The Valuation of Block-unit Housing Rearrangement Project Using Fuzzy Real Options

The government was expected to select a total of 68 urban areas across the country that were declined in the urban regeneration projects, and the New Deal that was announced in December 2017 urban renewal New Deal policy roadmap showed the Playing Deal innovation hub. The urban regeneration Deal innovation hub has chosen to promote pilot projects in continuing to lead the business. In this study, it is essential to replace the large-scale maintenance business with a small-scale housing maintenance business in order to revitalize it. Therefore, the purpose of the project is to analyze the qualitative risk factors for the revitalization of the business and to make a final decision about the project promotion by reflecting it in the feasibility evaluation, so that the Block-unit Housing Rearrangement Project can act as a foundation of the innovation renewal base of urban regeneration. In addition, I have suggested the policy implications by establishing methods for improving the management of these risk factors. Although the project of this study is not feasible at the beginning, the business entity (association, co-implementer, etc) can expect a business value of approximately 1,023 million won in the best case five years after the completion of the project. Therefore, the project developer (association, co-implementer, etc) should make careful decisions about the project. In conclusion, this study can be considered to be feasible by taking into account the risk factors of the Block-unit Housing Rearrangement project from the survey data of real estate experts.