MTR Corp has signed a Cooperation Framework Agreement with Beijing Infrastructure Investment Corporation (BIIC) and Beijing MTR Corp (Beijing MTR) to jointly conduct preliminary studies on the integrated development of selected existing station and depot sites along Beijing Metro Line 4 and Daxing Line.
Under the agreement, the three parties will leverage on their respective advantages on integrated railway and property development to investigate related business opportunities.
The studies will draw on BIIC’s leading advantages on railway infrastructure construction and resources integration in Beijing, and MTR Corporation’s internationally recognised Rail plus Property development experience to create vibrant new communities.
Beijing Metro Line 4 and the Daxing Line are operated by Beijing MTR, a joint venture company in which
MTR Corp holds a 49% interest. The two lines have a combined length of 50 km with 35 stations, forming the main north-south metro artery for Beijing, with average weekday patronage of more than 1.25 million.
BJMTR also operates Beijing Line 14 and will operate Beijing Line 16 when that line is commissioned into service.
Beijing has more than 20 million permanent residents and a rapidly expanding metro network. “The integration of railway service and urban development can further enhance the efficiency of public transport and provide the local community with quality living environments leading to a sustainable better future,” said Dr Jacob Kam, Managing Director –Operations & Mainland Business of MTR Corporation.
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