Transit-oriented development is an initiative of the Government to have railway as the back-bone of the transport system to create vibrant, liveable, sustainable communities. It aims at achieving an efficient mass transport system for Hong Kong and making optimum use of the limited land resources by forming a complementary duo of railway network and the surrounding property developments, which is called ‘Rail plus Property’ (R+P) Model. Established 40 years ago for financing the first railway line, the R+P model continues making use of the land development rights alongside railway alignments granted by the Government to develop over 30 integrated communities incorporating residences, offices, shops, schools, green spaces and other public facilities above railway stations and depots. The convenience and quality of life brought by the railway system attracts people to reside in the adjoining premises, which in turn increase the usage of the mass transit carriers. The recurring revenue from the R+P assets such as property and shopping malls achieves a self-sustaining railway network and continuous investments in developing new railway lines.
During the seminar, the following topics will be discussed: 1. The “Railway + Property” Model and its Merits; 2. Integration of Property with Railway and 3. “R+P” Case Studies. |
