METHODOLOGICAL APPROACH TO ASSESSING THE INVESTMENT ATTRACTIVENESS OF LAND RESOURCES OF TERRITORIAL COMMUNITIES AND OPTIMIZING INVESTMENT ALLOCATION

The study develops a methodological approach to assessing the investment attractiveness of land resources in territorial communities. It also substantiates a perspective on the optimal allocation of investment across promising land-use options, taking into account economic, resource-related, spatial and infrastructural factors. The study made it possible to substantiate the feasibility of shifting from a comparative assessment of the investment attractiveness of land resources to the formulation of investment decisions that account for the limited financial resources available to an investor. In this context, the author proposes a methodological approach under which the land resources of a territorial community are considered as a set of potential investment objects, individual land plots are treated as assessment objects, and the combination of a land plot with an allowable direction of its use constitutes an investment alternative. For each alternative, the relationship between the expected economic effect and the amount of investment is determined, providing a basis for further optimization of the allocation of limited investment resources. Using land plots within the Polyanska Territorial Community as an example, the study demonstrates a sequence through which an investor can move from the characteristics of individual land plots to the formation of investment alternatives and their incorporation into a problem of optimal allocation of investment resources. In particular, given a hypothetical investor budget of UAH 10 million and specified illustrative functions of economic effect, the model determined an allocation of resources between alternatives A1 and A2 in the amounts of UAH 6 million and UAH 4 million, respectively, while A3 and A4 were not included in the current financing plan under the specified conditions. This result is illustrative and should not be regarded as an actual investment recommendation without replacing the assumed parameters with real-world data. The practical value of the proposed approach lies in its ability to provide an investor not only with an informational characterization of land plots but also with a structured option for allocating limited capital among specific directions of their use. To move from the illustrative model to a practical investment decision, actual business plans, cost estimates, projected cash flows, risk parameters, project implementation periods, as well as confirmation of the land-use, legal, and urban-planning admissibility of the respective directions of use are required.