THEORETICAL ASPECTS OF THE STUDY OF INVESTMENT ATTRACTIVENESS OF CONSTRUCTION ENTERPRISES

Abstract

The construction industry plays a crucial role in the economy of every country, driving infrastructure development, residential construction, and the establishment of various social and economic structures. As a capital-intensive and high-risk business, the investment attractiveness of enterprises in this sector holds significant importance. The goal is to attract investments that allow companies to implement large-scale projects, modernize infrastructure, and improve living conditions for the population. Understanding the essence and significance of investment attractiveness, as well as the factors influencing its formation in the construction industry, is an essential aspect of strategic management and planning. Recent research in this area has highlighted various viewpoints regarding the nature of investment attractiveness. Scholars have defined investment attractiveness as the potential of a company to attract necessary financial resources for growth and development. Several authors, including M. Katan and K. Khorishko, emphasize that investment attractiveness refers to the company’s ability to attract the appropriate quantity and quality of investment resources, ensuring sustainable production development in a socially-oriented market economy. However, the concept remains complex, and there is insufficient clarity regarding its specific application to the construction industry. Construction companies often face a high level of investment dependence due to the capital-intensive nature of the sector. Investments are required for the realization of major construction projects, and without significant financial resources, the growth of these companies is hindered. The paper explores the theoretical aspects of investment attractiveness, identifying key factors such as financial stability, technical potential, legal and regulatory frameworks, and risk management, which shape the investment appeal of construction enterprises. Special attention is given to the influence of innovative technologies and materials, which not only enhance the quality of construction but also help to reduce costs, making companies more attractive to investors. The article also examines how external factors, such as government policy and economic stability, impact the attractiveness of construction businesses for investors. In conclusion, investment attractiveness is a key determinant for the sustainable development of construction companies. It allows businesses to implement significant infrastructure projects, which contribute to economic growth. Furthermore, attracting investments provides opportunities for implementing innovative technologies, enhancing competitiveness, and expanding global market presence.