Research On Risk Identification Andevaluation In The Planning And Designstage Of M&A Real Estate Projects

Land resources are the foundation for the survival of real estate enterprises.In addition to the mainstream land auction,acquiring land by acquisition and merger has become one of the important means for real estate enterprises to store land and expand the development scale.Especially in recent years,the real estate market has turned to a downward cycle,adding multiple pressures,some real estate enterprises can not bear the burden,seeking to acquire the way to repay debt or activate“Bad assets.”.However,acquiring land through acquisition and merger may bring different risks to the acquirer due to the asymmetry of information between the subjects of both parties and the complexity of the merger and acquisition process.This impact will not only occur in the process of acquiring land resources,but also have a profound impact on the subsequent development stage.This paper takes the M&A real estate project as the research object,and summarizes and analyzes its definition and characteristics,the connotation and importance of its planning and design stage work.In this paper,ZA M&A real estate project is selected as the research case,and the literature survey method,case analysis method and improved Delphi method are selected to identify and summarize the risks existing in the project planning and design stage.Based on the list of risk identification,the risk index system is constructed,and the weight of risk index is determined by using analytic hierarchy process,and then the risk level of ZA M&A real estate project is determined to be medium by using fuzzy comprehensive evaluation method.According to the results of risk identification and evaluation,it is concluded that the risk of M & a real estate project is more hidden,more uncertain and more complex than that of ordinary real estate project.According to the risk level of the project,put forward the suggestion of risk prevention measures and analyze the effect of risk prevention.Finally,the risk prevention plan of this project is given.