资产发展与财务词汇2.doc

Contingency 不可预见费用建筑费用，施工费用　construction cost, building cost工期 construction period设计费用 design costLandowners土地所有者financial appraisal财务评价profitability盈利性rapidly changing economic environment变化迅速的商业环境GDV: Gross Development Value总开发价值占地面积(在句中时)covers a land area of …占地面积: 独立短语：occupied land area建筑面积 Floor areaProperty Development and Finance资产发展与财务Location(地理)位置项目地点(现场)site现场勘察site survey方案scheme• negotiating for site acquisition土地谈判;• Preliminary Design初设; 初步设计• planning approval 规划审批;• Finance融资;• site acquisition获取土地;• detailed design详细设计;• bidding documents投标文件;• Construction建设;gross development value (GDV开发总值) EUV (existing use value剩余使用价值) Value of the site土地价值地形topography地况ground conditions 土地状况容积率 plot ratio, floor area ratio (FAR),法律约束 legal constraints基础设施infrastructure规划约束planning constraints 景观landscape建筑密度building density 绿化率 greening rate 建筑面积 floor area, floor space总建筑面积 gross floor area 用地面积 land area边际收入 marginal revenue MC 边际成本 marginal costDEVELOPMENT APPRAISAL开发评价Market research市场调研Surface Landscape and Boundaries地面景观和边界Structure plans（框架性规划） Local plans（具体规划） Unitary development plans （综合性规划FSI楼层系数 (floor space indexConservation area预留面积 项目规模 project sizeland purchase cost 土地购置费开发利润DEVELOPMENT PROFITcash flow approaches;现金流量法discounted cash flow method折现的现金流量法GROUND RENTS地租Partnership schemes合伙计划住宅地产 Residential estates Industrial estates工业地产with a phased implementation of schemes.分期实施的Period by period分期法Net Terminal Value净终值法The site value is already present valued.地价已经是现值equity and debt capital. 股权与债权资本到期日 maturity dates Short-term liabilities流动负债，短期负债 长期资产 long term assets foreign currency risk外汇风险maximisation of shareholders interests 股东利益最大化Capital Asset Pricing Model资本资产定价模型Expected returns预期的回报率 Risk风险(iii) Capital markets资本市场cost of capital资本成本利润最大化标准 profit maximisation criteria returnCapital structure and gearing资本结构和资产负债率capital structure资本结构Funding Matrix融资矩阵Value of debt + Value of Equity债务价值+股权价值Advantages 优势 Disadvantages劣势Loan or traded security直接贷款和交易证券Secured and Unsecured有担保和无担保Recourse, non-recourse or limited-recourse loans有根和无根贷款及有限根贷款Equity Partnerships股权合伙制- Forward Sale预售- Sale and Leaseback销售回租- Finance Lease融资租赁• Debt Arrangements债务式- Bridging Finance过桥贷款- Mortgage抵押贷款- Project Management Fee项目管理费participation lending and forward funding两种类型：参与式贷款和提前融资. • Short term bridging finance;短期过桥式融资• Medium term loans and senior debt;中期贷款• Long term mortgages.长期抵押贷款资产组合portfolio mix Repayment Structures 偿还结构• Bank Base Rate银行基本利率• London Inter Bank Offered Rate (LIBOR)伦敦银行间隔夜拆借利率Finance Houses Base Rate (FHBR)财务公司基本利率Mortgage Rate抵押贷款利率Unitisation资产股权化 财务报表 financial statements • the profit and loss account;损益表• the balance sheet;资产负债表• notes to the accounts;报表注释• current cost accounts;成本报表• a statement of source and applications of funds;现金流量表• a statement of value added.增值分析表税息前利润 Profit before interest and tax Earnings per share每股收益率Dividend per share.每股股利Return on investment投资回报率Liquidity ratio速动比例Current ratio 流动比例Capitalisation of interest利息资本化Goodwill商誉Valuation of Assets资产评估Contingent liabilities.或有负债• Marketing of property房地产市场营销 • . Market research 市场调查 • Market segmentation市场细分 • Promotion 促销 Selling Techniques (brochures, mail shots, press advertising, siteboards, demonstrations).销售技巧4 Ps = Product产品 Price价格 Place地点 Promotion促销Or equally the ‘DRAMA’ Demonstration展示 Recommendation (from satisfied tenants)推荐 Arithmetic (rents)计算 Measurement (size information)评价 Assurance (give guarantees)加强• - objectives目标• - rents租金• - special deals特殊情况• - competitive positioning竞争地位Sampling抽样调查Homogenous preferences同质性特征Defused preferences发散性特征Cluster preferences群体性特征• The investment method投资法（重置成本法）;• the comparative method比较法;• the contractor‘s test 成本加成法(a cost based method)• the profits method收益法; and,• the residual valuation余值法.• The planning authority规划部门• The contractor施工方• The community社区• The funders资金方investment companies 投资类公司交易类公司 trading companies短期融资途径：a bank overdraft, loans for the development period from banks or construction companies, equity sharing arrangement with a financial institution like a merchant bank or venture capitalists, joint venture schemes with funders, occupiers, contractors and other developers.长期融资途径：a forward sale or commitment to an institution or a lease back arrangement.residual valuation余值法。