Yıl 2018, Cilt 30 , Sayı 3, Sayfalar 286 - 298 2018-09-30

Evaluation of Value Capture Strategies for Public Private Partnership Projects in Railway System Projects to be Built in Istanbul City.

Hakan İNAÇ [1] , Cem Çağrı DÖNMEZ [2]


For urban rail lines, there is a need for resources at all stages such as planning, construction and operation. In financing these structures with large budgets and requiring specialized construction,  it is possible to implement not only the use of state resources but also many models of public private cooperation.

This method, which can be called alternative financing, will make a significant contribution to the realization of investment auctions and will also contribute to the rapid commissioning / finalization of investments. This model has been tried many times in the world and it has been evaluated that it will be more successful in the types of metro (cable car, light subway, monoray, street tram) which can be called as a relatively light subway investment.

For rail lines where alternative financing is required, it would be appropriate to increase the diversity of income items in feasibility reports. In this context, in addition to travel revenues, real estate value tax, Tax credit Financing, goodwill and real estate development partnership can provide income. Real estate prices increase in the area where rail system investment is made and this situation is used as a direct marketing tool by construction companies. On the other hand, in cases where Station structures have to be constructed outside the public area, the cost of expropriation for the project is increasing and financing needs are increasing.

For transportation investment projects with Public Private Partnership, it would be helpful to use value increase strategies other than passenger income. Which Public Private Partnership (PPP) Project, which Value Capture Strategies (VCS) will be more useful to use, will vary according to the demographic characteristics of the project.

Within the scope of this project, The Value Capture Strategies (VCS) and Public Private Partnership (PPP) varieties were evaluated using Analytic Hierarchy Process (AHP) with expert opinion for rail system projects to be carried out in Istanbul

Alternative Funding Options, Value Capture Strategies (VCS), Public Private Partnership (PPP), Rail System, Analytic Hierarcy Process (AHP), City of İstanbul
  • 1. Yescombe, E.R., Principles of Project Fınance, 2002. 2. Dr.Azadeh Kopp-Moini, XS-Axis Consulting GmbH, Unpublished Presentation, Railway PPPs “Trends, PPP Relavant Issues”, Hamburg, Germany,2013. http://www.unece.org/fileadmin/DAM/ceci/documents/2014/PPP_Materclass/Day3_Azadeh_Kopp_Railway_PPP.pdf3. Julien Dehornoy, PPPs in the rail sector - A review of 27 projects, SNCF French National Railways, April 2012. https://mpra.ub.uni-muenchen.de/38415/1/MPRA_paper_38415.pdf4. Istanbul Metropolitan Municipality 2016 Year Investment and Service Program, 2016,5. Lari, Adil and Levinson, David and Zhao, Zhirong and Iacono, Value Capture of Transportation Finance, Tecnical Research Report, Minneapolis,2009.6. Ismail Eraslan et al., Istanbul Property Value Map Study, IMM, Istanbul, 2017.7. Z Zhao, Levinson D., Introduction to The Special Issue on Value Capture for Transportation Finance, The Journal Transport Of Land Use, University of Minnesote,2012.8. Suzuki, H. J Murakami, Y. Hong, and B. Tamayose, Finacing Transist-Oriented Development with Land Values: Adapting Land Value in Developing Countries, Washington D.C., Urban Development Series, World Bank Group, 2015.9. R. W. Saaty, The Analytıc Hierarchy Process-What It is And How It is Used, Math Modeling, 1987.10. Finnerty, J.D. Project Financing: Asset-Based Financial Engineering. John D. Wiley & Sons, 1996. 11. Khan, MFK and Parra R.J. Financing Large Project Using Project Finance Techniques and Practices, 2003. 12. Istanbul Metropolitan Municipality, Transportation Master Plan, Alternative Financing Swot Analysis, 2002, Istanbul, Turkey.
Birincil Dil en
Konular Mühendislik
Bölüm Araştırma Makaleleri
Yazarlar

Yazar: Hakan İNAÇ (Sorumlu Yazar)
Kurum: Marmara University, Engineering Management Science
Ülke: Turkey


Yazar: Cem Çağrı DÖNMEZ
Kurum: Marmara University, Department of Industrial Engineering,
Ülke: Turkey


Tarihler

Yayımlanma Tarihi : 30 Eylül 2018

Bibtex @araştırma makalesi { marufbd396649, journal = {Marmara Fen Bilimleri Dergisi}, issn = {}, eissn = {2146-5150}, address = {}, publisher = {Marmara Üniversitesi}, year = {2018}, volume = {30}, pages = {286 - 298}, doi = {10.7240/marufbd.396649}, title = {Evaluation of Value Capture Strategies for Public Private Partnership Projects in Railway System Projects to be Built in Istanbul City.}, key = {cite}, author = {İNAÇ, Hakan and DÖNMEZ, Cem Çağrı} }
APA İNAÇ, H , DÖNMEZ, C . (2018). Evaluation of Value Capture Strategies for Public Private Partnership Projects in Railway System Projects to be Built in Istanbul City.. Marmara Fen Bilimleri Dergisi , 30 (3) , 286-298 . DOI: 10.7240/marufbd.396649
MLA İNAÇ, H , DÖNMEZ, C . "Evaluation of Value Capture Strategies for Public Private Partnership Projects in Railway System Projects to be Built in Istanbul City.". Marmara Fen Bilimleri Dergisi 30 (2018 ): 286-298 <https://dergipark.org.tr/tr/pub/marufbd/issue/38853/396649>
Chicago İNAÇ, H , DÖNMEZ, C . "Evaluation of Value Capture Strategies for Public Private Partnership Projects in Railway System Projects to be Built in Istanbul City.". Marmara Fen Bilimleri Dergisi 30 (2018 ): 286-298
RIS TY - JOUR T1 - Evaluation of Value Capture Strategies for Public Private Partnership Projects in Railway System Projects to be Built in Istanbul City. AU - Hakan İNAÇ , Cem Çağrı DÖNMEZ Y1 - 2018 PY - 2018 N1 - doi: 10.7240/marufbd.396649 DO - 10.7240/marufbd.396649 T2 - Marmara Fen Bilimleri Dergisi JF - Journal JO - JOR SP - 286 EP - 298 VL - 30 IS - 3 SN - -2146-5150 M3 - doi: 10.7240/marufbd.396649 UR - https://doi.org/10.7240/marufbd.396649 Y2 - 2018 ER -
EndNote %0 Marmara Fen Bilimleri Dergisi Evaluation of Value Capture Strategies for Public Private Partnership Projects in Railway System Projects to be Built in Istanbul City. %A Hakan İNAÇ , Cem Çağrı DÖNMEZ %T Evaluation of Value Capture Strategies for Public Private Partnership Projects in Railway System Projects to be Built in Istanbul City. %D 2018 %J Marmara Fen Bilimleri Dergisi %P -2146-5150 %V 30 %N 3 %R doi: 10.7240/marufbd.396649 %U 10.7240/marufbd.396649
ISNAD İNAÇ, Hakan , DÖNMEZ, Cem Çağrı . "Evaluation of Value Capture Strategies for Public Private Partnership Projects in Railway System Projects to be Built in Istanbul City.". Marmara Fen Bilimleri Dergisi 30 / 3 (Eylül 2018): 286-298 . https://doi.org/10.7240/marufbd.396649
AMA İNAÇ H , DÖNMEZ C . Evaluation of Value Capture Strategies for Public Private Partnership Projects in Railway System Projects to be Built in Istanbul City.. MFBD. 2018; 30(3): 286-298.
Vancouver İNAÇ H , DÖNMEZ C . Evaluation of Value Capture Strategies for Public Private Partnership Projects in Railway System Projects to be Built in Istanbul City.. Marmara Fen Bilimleri Dergisi. 2018; 30(3): 298-286.