The importance of complex modelling of the spatial-territorial system in assessing the implementation of investment and construction projects

Abstract

This paper examines an approach to integrated modelling of a spatial-territorial system from the perspective of the interconnections and mutual influences of not just individual factors and components, but rather complex systems that form a natural and artificial spatial system. The fundamental distinction of this approach is that it considers the interactions of systems with the same goal but different resource directions in the formation of a unified system during the implementation of investment and construction projects. The socioeconomic nature of a spatial-territorial system, which takes into account the complex use of land plots with various land uses interconnected with technological process components during the construction of real estate with varying functionality, determines the task of quantifying the balance of the model. The level of capitalization of “undeveloped” (“undeveloped land” — a natural resource at the stage of the beginning of the territory organization process) land resulting from the implementation of investment and construction projects reflects the efficiency of its use, regardless of the functionality of spatial objects. Therefore, this indicator can serve as an integral criterion for the balanced state of a spatial-territorial system. Moreover, the direction of investment impact will be determined by the identified discrepancies in the functioning of individual elements of the system under study during the investment support of project implementation. This article examines a resource decomposition method for a model for all participants in territorial redevelopment, enabling the calculation of benchmark values for the system's economic parameters under the assumption of a balanced structure. These results were achieved through the creation of a comprehensive “territorial genesis” model, based on the interconnected and interdependent production processes of construction projects. Furthermore, the inclusion of humans as a key production factor played a significant role in the model's development. The influence of the human factor is reflected in the model both at the organizational stage and during the adoption and implementation of the investment construction process. Based on the model's decomposition, it was possible to obtain capitalization coefficients for each system element, the entrepreneur's profit level, the contractor's profit level, and the refinancing rate assuming no losses in a balanced system. These values can serve as benchmarks to strive for when developing territories in investment construction projects to ensure the structural balance of the spatial-territorial system, or they can reflect the balance of the real estate market and the state of its individual segments at the time of their assessment.