- The Rail-Plus-Property model synergizes railway development with property investments through land value capture to foster strategic urban development.
- Key success factors to all integrated rail-property development include sophisticated urban environments, secure land use rights, holistic planning approaches, supportive zoning systems, and robust legal frameworks for creating and maximizing land value appreciation.
- Unique to the Rail-Plus-Property model is the railway agency’s exclusive development rights and its entrepreneurial initiative and robust in-house expertise in railway, property, and business domains.
- The model provides a financing tool for railway agencies while relieving the government’s fiscal burden. By aligning with transit-oriented development principles, it can increase public transit usage, reduce road congestion, lower transportation costs, mitigate air pollution, and conserve energy.
- Developing Asia shows potential for adopting the Rail-Plus-Property model. Challenges like unclear land ownership hinder direct replication, yet lessons in private sector involvement and elements of land value capture and transit-oriented development offer valuable insights.