A Research on Proceeds, Reductionism and Financing Mode of Rail Transit Projects ebased on the Value Integration Theory - Dalian Rapid Rail Transit Line 3 as an Example

Rail transit is an effective solution to urban traffic congestions. As an effective solution to the urban road congestion, urban rapid rail transit (URRT) has been widely utilized in various countries. However, URRT constructions and operations are subject to funds shortage, therefore the introduction of innovative financing and development modes is necessary to solve the problem. According to the value integration theory, if the rail transit project is integrated with the surrounding real estates, the resulting proceeds of real estates will considerably relieve the financial pressure of the URRT. Dalian Express Rail Traffic No.3 Line project is taken as an example in my essay. Based on the Hedonic Approach, the study of project's effects on the integrated value-added rate and on the value of surrounding real estates has been done. Meantime,through the value integration theory, a concept and related methods of comprehensive development of the URRT is put forward to further analyze its effectiveness and scope quantitatively, which is aimed at taking advantage of land comprehensive proceeds return to establish a new financing and developing mode.