Financing a subway with underground real-estate

Is it possible to finance a subway system with underground commercial real-estate?

Over here, in Tel-Aviv, we have a grave need for a subway train. A metro system can make life much easier and the city much cleaner.

An interesting calculation would find out how many meters of underground real-estate would the city need to give to the entrepreneur in order for the project to pay for itself. It can possibly be done two stations at a time to minimize risk.

Selling stock to citizens for further financing

Besides the rights to sell the tickets to the subway, and the real-estate, the entrepreneur can also sell some stock for the the entire system ahead of time. City property owners in strategic locations would jump on the stocks because they have a double interest in raising the value of their real-estate and earning from the new commercial area. They can even be given the rights of choosing where the stations will be located, increasing incentive.

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