Lessons can be learned from Hong Kong's MTR, however it seems that economic growth, high real estate prices and urban density are part of the equation.Ĭredits: Map of Hong Kong Metro from 4.bp. The Hong Kong Metro is a subway transportation system that travels throughout the city of Hong Kong, which is a special administrative region of China. Very few rail systems around the world are not supported by government subsidies. Despite this market savviness (complete with a highly-paid CEO head-hunted from New York's MTA) the MTRC is still largely a government-owned enterprise. The MTRC benefits on both ends of this strategy: more riders = more shoppers = higher rent = growing network = more riders. The value of the properties is assuredly high given the colocation to stations in this dense public transit-oriented city. Architectural elements: The giant curtain wall comprises over 4,000 irregular glass panels to maximize daylight and conserve energy. Its unique architecture and beautiful landscape make it a new hotspot for visits and photos. Planned always in conjunction with the stations, it's portfolio of properties includes shopping malls, residential and office towers, hotels, serviced apartments and even parking lots. Hong Kong West Kowloon Station is conveniently located next to the West Kowloon Cultural District. Surprisingly, since it's inception in the 1970's, the MTRC is also a real estate developer. Hong Kong MTRs lines of business such as rail, property development, retail, and advertising needed a faster way to retrieve more accurate data for better. Despite the ridership, this profit is not driven by passenger tickets or advertisement but by its strategy of integrating railway infrastructure with urban development. While most of the world's urban rails are largely subsidized by government funds, Hong Kong's MTR Corporation (MTRC) runs a significant surplus.
The MTR is unique in another way: it is a profitable transit system. Rush Hour at Admiralty Station, Hong Kong. Its extensive network carries over 4 million passengers per day, connecting Hong Kong Island to Kowloon and the New Territories. Hong Kong Mass Transit Rail (MTR) is one of the most efficient, safe, reliable and affordable systems in the world.
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