MTR to bring rail and property development model to Europe
EUROPE: Hong Kong’s MTR Corp has appointed chartered surveyor John Robinson as Head of Property for its European Business, with the aim of bringing to Europe the Rail+Property development model which it has successfully used in China.
Property developments at 39 stations in Hong Kong provide 100 000 residential units and more than 2 000 000 m2 of commercial space, generating a revenue stream to support the rail business. MTR recently completed its first mixed residential and commercial property development at Shenzhen.
‘Developing above and around stations often brings with it added complexity of design or construction, but we see real potential for combining our railway operations and property development expertise here in Europe and giving greater focus to this in our overall development plans’, said Jeremy Long, CEO of MTR Corp’s European Business, on May 9.