'Asset-Light and Partnership-Heavy' Mode: Research on Strategic Transformation of the Real Estate Enterprise in China

摘要

In China most real estate enterprises have been taken asset-heavy management mode, which integrates investment, construction, and management to obtain the whole profit of project. But nowadays, this kind of asset-heavy operation mode which takes land and earns the value-added income as the core cannot adapt to the new market situation. Real estate enterprises need to transform their operation mode and adopt the operation mode of "Asset-light and Partnership-heavy". This is a horizontal integrated operation mode, which emphasizes the strategic partnership of the node enterprises in the project value chain in order to reduce their own business risks. Based on value chain theory, the paper takes China's X Real Estate as a case to analyze "Asset-light and Partnership-heavy" mode, and uses EVA model to evaluate its transformation effect. The conclusions can help real estate enterprises focus on the core competitiveness of enterprises, decentralize business risks, and ensure sustainable development.