Many Southeast Asian developing cities are facing traffic and pollution
issues. In order to produce a more sustainable city, local governments
often opt for developing modern public transit systems. Because of a
lack of finance, developing cities are supported by international donors
while also looking for self-sufficient financing approaches like land value
capture mechanisms. The Hong Kong “Rail plus Property” (R+P) model is
seen as a reference. This chapter stresses the advantages of such a model,
points out the particularities that make this model very unique and argues
that adjustments that have recently been made are distorting the original
model. Hence, the R+P model appears not as evident and straightforward
as its advocates would like it to be.
Land Value Capture and Tax Increment Financing: Overview and Considerations for Sustainable Urban Investment
