Evaluation of the effectiveness of investments in objects of unfinished construction at the pre-project stage

Abstract In Ukraine, due to crisis phenomena, the share of unfinished construction objects has significantly increased, problems have arisen in preparing for the implementation of these objects with the assessment of the effectiveness of completion and diversification. The main purpose of this work is to establish the regularities of formation and evaluation of investment efficiency at the stage of organizational and technical preparation of completion and diversification on the basis of an integrated approach to the multivariant use of construction in progress. Scientific novelty consists in the following: the place and periods of organizational and technical preparation of completion and diversification of unfinished construction objects in the investment cycle are substantiated; approaches to the complex assessment of investment efficiency with the output to the market value of unfinished construction objects are proposed; the methodology of organizational and technical preparation of completion and diversification is proposed. The practical value consists in increasing the validity of organizational and technical preparation of completion and diversification of unfinished construction objects; increasing the objectivity of assessing the value of these objects. Practical results can be implemented by the subjects of the real estate market when assessing the purchase and sale price, as well as by the State Property Fund when preparing for the sale of unfinished construction objects. The main results: developed approaches to complex assessment of investment efficiency and methodology of market value assessment with the choice of optimal strategy of seller and buyer; methodology of organizational and technical preparation of completion and diversification within the cycle of pre-project works on objects of unfinished construction in the investment cycle.