Easing the financial cost of acquiring land needed for MRT development while also generating new sources of revenue and encouraging the private sector to participate in infrastructure projects has become a major government priority. Government needs to aggressively seek out partners to develop property adjacent to transit stations, so as to increase the financial resources of the MRT system by profiting from the joint development of real estate. According to the Regulations for the Joint Development of Land Adjacent to or Contiguous with Taipei Rapid Transit System and Regulations for the Negotiation of Preferential Trading of Land for Taipei Metropolitan Rapid Transit System, joint development combines characteristics of the public and private sectors to make the best use of real estate and create prosperity for the community.
A joint development program is basically the same as a common real estate development cooperation project, with a landowner providing land or property and an investor providing financial support, to undertake construction of transit stations plus other developments on the adjacent land under the supervision of the government's Joint Development Authority. Investors should first reach agreement with the landowners in terms of cooperation, income distribution, and other relevant rights and obligations for the construction and its land.