Subject. This article examines the impact of project financing on the development of the real estate funding market in the context of the transition to the digital economy. Objectives. The article aims to define the features of project financing in the property construction and its development prospects in the context of the transition to the digital economy. Methods. For the study, I used comparative and logical analyses, object-oriented design, and the systems approach. Results. The article defines the essence of project financing and its role in the development of the real estate funding market in the transition to the digital economy. It describes a number of features of project financing in construction and compares them with the features of project financing of innovative industrial projects. The article shows how to solve existing problems in this area and offers a use case diagram that helps develop a software product relevant to the real estate funding market. Conclusions and Relevance. The real estate funding market is a complex structure and it includes the synergy of the real estate market, banking market, and the financial market. Project financing is an integral part of the real estate funding market. It stimulates the development of quality consulting services in the market and produces key requirements for the profession of the next generation. The results of the study can be used to improve banking activities in project financing and when creating quality services of consulting companies in the real estate funding market.
Keywords: project finance, real estate financing market, digital economy, mortgage lending
Sirotkin V.A. Ekonomicheskie mekhanizmy formirovaniya rynka zhiloi nedvizhimosti: monografiya [Economic mechanisms of formation of the residential real estate market: a monograph]. Yekaterinburg, Ros. gos. prof.-ped. un-t Publ., 2012, 251 p.
Razumovskaya E.A., Razumovskii D.Yu. [Approaches to evaluating the appropriateness of households' financial resource structure and people's financial literacy]. Finansy = Finance, 2020, no. 1, pp. 57–64. (In Russ.)
Nikonova I.A., Smirnov A.L. Proektnoe finansirovanie v Rossii: problemy i napravleniya razvitiya [Project financing in Russia: problems and directions of development]. Moscow, Konsaltbankir Publ., 2016, 215 p.
Yescombe E.R. Printsipy proektnogo finansirovaniya [Principles of Project Finance]. Moscow, St. Petersburg, Vershina Publ., 2008, 481 p.
Rakhmatulin R.V., Rakhmatulina D.F. [The essence of the concept of a project financing and its role in modern Russia]. Ekonomika, upravlenie i investitsii, 2014, no. 2, p. 6. (In Russ.) URL: Link
Rubleva T.A. [The role of "mortgage for investors" in the period of economic instability]. Bankovskoe delo = Banking, 2014, no. 7, pp. 72–75. (In Russ.)
Wachter S.M., Smith M.M. The American Mortgage System: Crisis and Reform. University of Pennsylvania Press, 2011, 400 p. URL: Link
Maevskii V.I., Kirdina-Chendler S.G., Volynskii A.I. et al. Mezoekonomika: elementy novoi paradigmy: monografiya [Meso-economics: The elements of a new paradigm: a monograph]. Moscow, IE RAS Publ., 2020, 392 p.
Abdrakhmanova G.I., Vishnevskii K.O., Gokhberg L.M. et al. Chto takoe tsifrovaya ekonomika? Trendy, kompetentsii, izmerenie: monografiya [What is the digital economy? Trends, competencies, measurement: a monograph]. Moscow, NRU HSE Publ., 2019, 82 p.