Vilnius Gediminas Technical University
VGTU Faculty of Business Management
DEPARTMENT OF FINANCE ENGINEERING
Real Estate Investment Portfolio Management
Author: Daiva Pušinaitienė
Academic supervisor: Aleksandras Vytautas Rutkauskas
Thesis language - Lithuanian
The master thesis analyses investment in real estate and investment portfolio formation and management of
real estate objects. The main objective of the thesis is to optimize the process of investment into real estate
development, applying principles of investment portfolio theory as the main instrument of risk diversification
and possibilities reliability management while forecasting development of investments into real estate.
Analytical parts of the thesis analyse development processes of real estate, their risk and related decisions.
The conception of investment into real estate, types of such investments, objectives and reasons are being
analysed. Analytical possibilities of investment portfolio as a means of investment management instrument
are disclosed. Practical part analyses investments into particular objects of real estate. Financial data of the
selected objects is presented, forecasted profitabilities are calculated, and possibilities, as well as reliability of
the developed portfolios are presented graphically. The thesis is composed of seven parts: introduction, three
analytical parts, practical part, conclusions, references. The volume of the thesis – 81 p. without appendixes,
12 figures, 21 tables, 78 reference positions. Appendixes are presented separately.
Keywords: investicijos, investicijų portfelis, nekilnojamasis turtas, optimalus portfelis.