| Throughout more than 2 decades’ development,China’s real estate industry has gradually stepped into rationality and maturity.Real estate development under the socialist market mechanism with Chinese characteristics has experienced several stages: from housing system reform to overheated investment brought by avid foreign investors;real estate industry was key to increase domestic consumption and to stimulate economic growth during Asian financial crisis;the introduction of land auction mechanism aimed to foster price stability in commodity property confronting with housing market speculation;again real estate industry was the bailout plan for the subprime crisis as the role of “economy growth engine”;as the price soaring,regulatory macro policy was revived to deal with the problems of income inequality and multiple housing demands;the essential feature of housing which was proposed as “house is for living in,not for speculation”,indicating that China’s prospects in property market will better coordinate stable growth and risk prevention,forming foundation for long-term,steady and sound development.So far this year,local governments in China have introduced a series of regulatory measures for existing home sales,financing construction and taxation policies,depending on the specific city.On the whole,the industry will usher in a new round of innovation,gradually shifting from the past inflated development to a tightening trend,which will undoubtedly face more opportunities and challenges for many real estate enterprises.Taking G Real Estate Company as example,this paper studies the strategic development problems faced by real estate enterprises under the current new situation and proposes the necessity of strategic transformation and the direction of transformation.By reviewing domestic research literature,combining theories of strategic development and strategic transformation,and analyzing the external environment and internal conditions of the company,it is believed that the original scale expansion strategy with high debt and high return of G Company can no longer adapt to the market positioning of stable land price,stable house price and stable expectation.Nowadays,the profit margin supported by land and financial dividend in the past has narrowed.G Company must re-examine the new situation,find the right positioning,follow the direction of social capital,adjust its strategy and seek development opportunities.The structure of this paper is divided into six chapters:Chapter 1 is an introduction;Chapter 2 is an overview of the concepts and theories related to strategic transformation of real estate enterprises;Chapter 3 is the analysis of the environmental conditions for the development of G Real Estate Company under the new situation;Chapter 4 is the selection and implementation of strategic transformation of G Real Estate Company under the new situation;Chapter 5 is the guarantee measures for the implementation of strategic transformation of G Real Estate Company;Chapter 6 is the conclusion and prospect.With the help of PEST,SWOT and other related analysis tools,this paper composes a strategic transformation plan which is suitable for G Real Estate Company.Using QSPM matrix analysis to prove the feasibility of the transformation plan,it is concluded that the asset-light strategy and diversification strategy can help the company to achieve stable cash flow and high-quality development in the future.At the same time,this paper proposes a series of safeguards in terms of organizational system,technological innovation,brand building,incentive mechanism and policy support,aiming to improve the company’s management,operation and service capabilities,and to embrace more opportunities through synchronizing with city development.The macroeconomic data of China,internal operation data of G Real Estate Company and relevant market information involved in this paper are based on authentic sources and reference to the relevant experts’ research results in the real estate field supporting the objectivity and accuracy of this study.It is hoped that the research in this paper can provide reference and significance for other real estate companies in the industry during the process of strategic transformation. |
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