Research On Investment Strategy Of Pension Real Estate Project In Tangshan Of YD Group

In recent years,the aging of China’s population continues to accelerate.It is estimated that by 2050,the number of people over 60 will reach 460 million,accounting for more than one third of the total population.However,the contradiction between supply and demand is obvious in the current pension market.How to deal with and solve the pension problem in the future has become the focus of the current society.In this context,the central level has paid close attention in recent years and issued more than 100 old-age related policies and documents to support and promote the development of the old-age industry.Different market players in China have begun to explore the pension development mode extensively.Insurance institutions represented by Taiping Insurance and Taikang Life Insurance,traditional real estate development enterprises represented by leading real estate enterprises such as Vanke and Greentown,as well as enterprises with medical background and some other private/foreign capital have entered the pension real estate industry.When tracking a block in Tangshan,YD Group changed its development ideas to build a real estate for the aged after comprehensively considering the development prospect of the real estate for the aged,the existing resources of the Group and the need for possible transformation in the future,and based on this project,promoted the business transformation and upgrading of the enterprise.Therefore,a lot of research and demonstration have been carried out in the investment decision-making stage.This study takes the case of investment decision-making process of Tangshan old-age care real estate project of YD Group as the main line,and makes a systematic analysis of Tangshan old-age care real estate project with the combination of positioning theory,market segmentation and investment decision-making theory.As a new branch and new direction of real estate development,the old-age care real estate industry is still in the preliminary stage of development.It faces a series of problems and difficulties from the purchasing power of elderly customers to the difficulty in making profits for old-age care real estate enterprises,the difficulty in land use,high cost and the shortage of talents.Besides,the endowment real estate is different from the conventional sales real estate development,which can be used for one-off cash return through sales.The endowment real estate projects usually have the characteristics of diversified policy restrictions,long investment payback period and high operation requirements.The Tangshan project of YD Group also faces the same problem,so its investment decision is closely related to the project positioning,business model and operation service system.In this paper,a series of problems,such as positioning,development mode,operation mode and sales mode,faced by YD Group Tangshan old-age care real estate project in the investment decision-making stage will be elaborated through the case,and the corresponding solutions will be proposed.It is found that the key factor of whether the project can be landed lies in how to recover part of the capital under the condition of non-property rights sales,so as to partially solve the financial pressure of the early development and construction of the project,and ensure the sustainable operation of the project after completion.Finally,through the way of membership sales and high quality operation services,the investment can be quickly recovered through membership sales in the short term.High quality operation service increases customer acceptance and recognition,ensures the possibility of continuous operation,and generates operating income at the same time.In addition,with a small number of hotels and hot spring entertainment facilities,to relieve the operation pressure caused by the large scale of old-age care real estate;At the same time,through positioning,products and supporting facilities,financing and other aspects of consideration,reduce project risks.Finally,improve the project investment decision-making index system and the evaluation index system,rebuild the investment system organizational structure,and form a three-level system of expansion-support-decision;And improve the investment decision-making process,and manage in accordance with the acquisition of information-project establishment-final decision-project acquisition;In the evaluation index system,each business model module is separately calculated and transformed into a comprehensive calculation.After improving the whole investment decision-making process of YD Group’s Tangshan project,it will provide reference basis and model for the development of YD Group’s subsequent old-age care real estate projects.