Hong Kong Transit-Oriented Development Model: What Can We Learn From?
Cities around the globe, particularly in emerging markets and developing economies (EMDEs), face a strong need for infrastructure development to meet the rising demand driven by rapid population growth and urbanization. Yet with transportational infrastructure, the cost of keeping up with demand, especially in these economies, is never cheap. The development of roads or metro lines would not only incur substantial costs for construction and land clearance, but also require a large team of urban planners, engineers, and accountants to ensure the project is executed to the highest standard. Hong Kong's 'Rail + Property' Transit-Oriented Development (TOD) model was an innovative solution in balancing the monetary cost of railway development, yet also allowed for the development of a high-quality rail network. Mass Transit Railway (MTR) in Hong Kong, widely known for its great success, not only allows for a proper integration of Hong Kong's people with the transport networ...
