WSP|PB calls for smart development among regional rail projects

 

WSP | Parsons Brinckerhoff (WSP|PB) urged regional governments developing metro or light rail ring-fence station-side land which would help off-set the upfront cost of rail projects.

In its white paper, Smarter Rail – A Whole-life Approach, the company highlights one of the major challenges for local rail asset owners is transitioning from a delivery-oriented organisation to an asset operator and maintainer.

The whole lifecycle of a rail network is often over-looked during planning and design, even though the operational phase is significantly longer and requires far more investment than the project phase.

To help off-set the capital costs of construction and secure long-term revenues to offset operating cost once in service the consultants argue that rail owners should look to implement schemes to develop smart transit hubs and developments on adjacent and nearby plots.

The whitepaper cites research that shows locations next to Metro stations can enjoy increases in land values of over 50% in comparison to locations away from Metro stations, and that people who live in a TOD are five times more likely to commute by public transport than other residents.

Head of rail at WSP | PB Brendan Young said: “As the Middle East looks to grow its rail network, there is an opportunity for rail owners to take the next step and create smart developments.

“However to ensure that this vision can be realized some policy and regulation measures will be required, and one that we envisage being crucial is some form of regulation to freeze and  rezone station-side land for this purpose.”

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