Wuhan yuya property management co., ltd

10 km, from the start to the end, less than 20 minutes.

On the morning of May 26th, around 10, there were only thirty or forty passengers in the car rated to accommodate 950 people. Wuhan light rail 1 line has been built and operated for nearly a year. It is not surprising to reporters that there are fewer and fewer cars and horses at the door. The distance is too short and the route planning is unreasonable, which has become a fatal "hard injury" for Wuhan light rail 1 line.

Obviously, operating income alone cannot maintain the daily operation of light rail, let alone raise funds for the later construction of rail transit. However, in the foreseeable future, the government cannot enjoy the huge appreciation space that rail transit will bring to real estate along the line. Can real estate development along the line be combined with rail transit development? It has become a difficult problem to be solved urgently in the development of Wuhan rail transit to establish the mechanism of real estate income subsidizing rail construction and operation.

A few days ago, the Hong Kong MTR Corporation announced a high-profile investment of 26 billion yuan to participate in Wuhan rail transit construction. The meaning of MTR drunkenness obviously lies in the development of real estate along the line. "But if we can't break through the mainland's policy restrictions, there are still only two skins between the MTR and Wuhan Rail Transit," a person from Wuhan Rail Transit Co., Ltd. told reporters.

26 billion subway hits Wuhan

On May 10, the Wuhan Municipal Government and the Hong Kong MTR Corporation announced in Hong Kong that they had signed a memorandum of cooperation on MTR's investment in Wuhan rail transit construction. The MTR plans to invest 26 billion yuan to participate in the construction of Wuhan rail transit 1 Line (light rail), Line 2 (subway) and Line 4 (subway).

Insiders pointed out that rail transit is recognized as a public welfare undertaking all over the world. As a listed company in Hong Kong, why should MTR intervene in Wuhan urban rail transit construction on such a large scale?

As the only profitable subway company in the world, Chung Kong Chow, CEO of MTR Corporation, said during his inspection tour in Wuhan that MTR will participate in the construction of Wuhan rail transit and will transplant the practice of Hong Kong subway and set foot in real estate development along the rail transit.

Ling Xiong, chief traffic planner of Wuhan Urban Comprehensive Traffic Planning and Design Institute, also revealed to reporters that the MTR has sent people to investigate the real estate situation along the Wuhan rail transit planning in detail, including possible stations and plots available for development. A detailed investigation report is being written.

At present, the first phase of the full-length 10 km light rail 1 line has been completed in Wuhan and put into use in July last year. According to the planning of Wuhan rail transit network, before 20 10, Wuhan will complete 29 km light rail 1 line, 26 km subway line 2 and 5 km subway line 4. By then, Wuhan will form an I-shaped network skeleton of about 70 kilometers. The long-term planning of Wuhan rail transit network consists of seven lines, with a total length of 223 kilometers, running through three towns in Wuhan.

According to the understanding reached between Mr. Li, Mayor of Wuhan, and Chung Kong Chow, CEO of MTR Corporation, Metro Line 2 from Tianhe Airport to Donghu Development Zone is most likely to become the first project of MTR construction.

Chung Kong Chow said that in Chinese mainland, MTR's investment strategy is to focus on investment opportunities in big cities. He believes that due to the rapid population growth, enhanced awareness of environmental protection and increasingly serious traffic congestion in China's big cities, there is a great demand for public transport systems and a high relative profit potential. "In some cases, companies can adopt the model of' comprehensive development and management of railways and properties' which is effective in Hong Kong, while in other cities, they may adopt the model of' public-private partnership', that is, the government subsidizes most of the capital expenditure."

In recent years, MTR Corporation has successively invested in subway construction in Shenzhen, Beijing and other places, but its mode of "comprehensive development and management of railway property" has not been solved due to the restrictions of mainland land policy.

Management dilemma and profit vision

In fact, the MTR is one of the largest real estate developers in Hong Kong.

According to the 2004 annual report of Hong Kong Metro, the total revenue of Hong Kong Metro increased by 65,438+00% to HK$ 83,565,438+00 million in 2004, of which the profit from property development was 4,568 million yuan, accounting for more than 50% of its total profit.

Although Hong Kong subway is small in scale, with a total length of only 82.2 kilometers, it is the busiest underground transportation system in the world. Because the subway has greatly improved the traffic conditions along the line, the stations along the line have formed many new prosperous areas, and the real estate along the line is also increasing in value. MTRC makes full use of this advantage, combining the development of subway with real estate development, which has brought rich returns to MTRC, not only solving some sources of funds for project construction, but also bringing rolling financial resources to MTRC from the subsequent subway property management. This is the secret of the profitability of the Hong Kong subway.

"The advantage of rail transit is that it is a long-distance and large-capacity means of transportation, and the total length of the first phase of the light rail project that has been completed in Wuhan is only 10 km. The line design is not reasonable, and it will not bring tourists anyway." Ling Xiong told reporters.

Since the opening of Wuhan Light Rail 1 Line, it can be said that the operation is bleak. It is impossible to maintain daily operations only by operating income, let alone raise construction funds. On the other hand, Wuhan's finance is not plentiful, and the profit experience of Hong Kong Metro has aroused the interest of Wuhan Rail Transit Company and relevant government departments.

"Can we learn from the practice of setting up a land transaction sub-center in Wuhan New District, and recycle the proceeds from the auction and development of real estate and site properties along Wuhan rail transit planning in the body to make up for the loss of rail transit operation and solve some construction funds problems?" Wang Changyu, director of the office of Wuhan Rail Transit Company, told reporters.

Previously, in order to promote the construction of "Wuhan New District", the Wuhan Municipal Government set up a land consolidation and reserve sub-center in Wuhan New District, and used all the proceeds from land transfer in Wuhan New District for the construction of the new district. Can this model be used for reference by railway companies?

In fact, according to the reporter's understanding, regardless of whether the MTR has injected capital, Wuhan Rail Transit Company has begun to intervene in real estate development along the route. It is reported that they are prepared to cooperate with powerful developers to take down the parking lots at both ends of the light rail phase II 1 line and the plots around the maintenance workshop for commercial development.

Policy Obstacles and Wuhan Reality

"However, according to national policies, the proceeds from land transfer can only be used for land development. Even if the real estate along Wuhan rail transit is operated in the form of a land transaction sub-center, its land appreciation and transfer income cannot be used for rail transit construction. " Qian Feng, director of the office of Wuhan Land Consolidation Reserve Supply Center, told the reporter.

Qian Feng believes that every project cannot be required to be self-circulating and self-balanced, and it is a big account. According to the current land policy of the country, all construction transfer must go through public transfer procedures such as bidding, auction and hanging. Qian Feng, who once participated in the inspection and talks of China Hong Kong Metro Company, said, "Of course, Hong Kong Metro Company has mature experience and abundant funds, and its bid is likely to be higher than other bidding companies, so the real estate along the line will of course be developed by him." However, he stressed that under the current policy, rail transit companies, as enterprises, must obtain the right to develop land along the line through listing and auction.

"As for the superstructure of the subway and light rail station, since the land granted by the state to the rail company is the land for rail construction and belongs to the nature of allocation, there are also certain policy obstacles if the nature of the land is changed and commercial development is carried out." Ling Xiong also told reporters that,

Moreover, the development of rail transit in Wuhan is different from that in Shenzhen, which is a new city. When planning the rail transit line, the Shenzhen Municipal Government has controlled the land along the line. After the completion of the subway, the land price along the line soared, and the government naturally shared the "happiness of growth." However, Wuhan is a city without rail transit. Take Metro Line 2 as an example. It starts from Evergreen Garden in the north, passes through the downtown area of Hankou, the most prosperous and populous city in Wuhan, and then crosses the Yangtze River and Wuchang. "There are dense buildings along the line, there are not many ready-made plots for development, and the cost of demolition is huge, which leads to a narrow profit margin for real estate development in the future." Qian Feng said.

According to the reporter, Wuhan Metro Line 2 has encountered obstacles in the demolition. According to the planning of the light rail company, the subway that should have been demolished in May crosses the river at the exit of Hankou. After the local residents knew that they would take the subway, they generally raised the compensation requirements for demolition and delayed the demolition work.

The reporter also learned from different channels that the Ministry of Construction will send a working group to Wuhan for investigation in the near future. How to establish a mechanism for land development to compensate rail transit, how to deal with the relationship between land development along rail transit and rail transit station facilities, how to ensure the overall development of rail transit station facilities and land along the line, how to avoid the waste of urban land resources, how to improve land use efficiency along rail transit and how to maximize land value will be the focus of this review and investigation by the Ministry of Construction.