European Bank for Reconstruction and Development
Türkiye’s third-largest city is reimagining how it funds and operates its metro network. HR&A serves as overall project lead for a two-part EBRD-supported engagement in Izmir — leading a land value capture program that extends the analytical framework pioneered in Ankara and overseeing a parallel corporate development program to strengthen the financial and operational performance of Izmir Metro A.Ş.
The LVC component draws on curated international case studies, strategic modeling of how urban rail investment shapes real estate values, and a GIS-based dashboard — tools first developed from the analytical framework HR&A pioneered in Ankara — now adapted and deepened for Izmir’s context. HR&A is identifying pilot sites across the city’s metro network, modeling LVC revenue scenarios at each, and preparing a comprehensive recommendations and action plan for IMM. An international Study Tour will give municipal leaders direct exposure to comparable cities that have successfully deployed land-based transit financing.
Running in parallel, consortium partner MC Mobility Consultants GmbH leads the Corporate Development Programme, which encompasses a Financial and Operational Performance Improvement Programme and an Asset Management Strategy for Izmir Metro A.Ş. Together, these workstreams position the operator to meet ISO 55001 standards and EBRD requirements — building the institutional capacity needed to sustain long-term metro growth.
