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Monetary valuation of urban underground space: A critical issue for the decision-making of urban underground space development

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  • Qiao, Yong-Kang
  • Peng, Fang-Le
  • Wang, Yang

Abstract

Urban underground space (UUS) has attracted more and more attention worldwide, but its value, external value particularly, is often ignored or underestimated, which will influence or even change the trade-offs in the decision-making processes of UUS development. This paper employed service replacement cost method (SRCM) to access the value of urban underground space. Since the precise estimate of the value of urban underground space is almost an impossible task, this paper can only provide a crude approximation, in other words, a relative magnitude of the value of urban underground space. The case study of Changzhou City in China manifested that urban underground space provided an important portion of urban economy, which reached up to, but not be limited to, 1.8% of its GDP. This paper should aid in giving urban underground space more weight in urban decision-making process.

Suggested Citation

  • Qiao, Yong-Kang & Peng, Fang-Le & Wang, Yang, 2017. "Monetary valuation of urban underground space: A critical issue for the decision-making of urban underground space development," Land Use Policy, Elsevier, vol. 69(C), pages 12-24.
    • Handle: RePEc:eee:lauspo:v:69:y:2017:i:c:p:12-24
    DOI: 10.1016/j.landusepol.2017.08.037
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    Cited by:

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    3. Zhaoliang Peng & Yu Zhang & Fei Tan & Jiahe Lv & Lianghui Li, 2023. "Variable-Weight Suitability Evaluation of Underground Space Development Considering Socioeconomic Factors," Sustainability, MDPI, vol. 15(4), pages 1-20, February.
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    5. Wan-Lin Meng & Shuilong Shen & Annan Zhou, 2018. "Investigation on fatal accidents in Chinese construction industry between 2004 and 2016," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 94(2), pages 655-670, November.
    6. Bayer, Peter & Attard, Guillaume & Blum, Philipp & Menberg, Kathrin, 2019. "The geothermal potential of cities," Renewable and Sustainable Energy Reviews, Elsevier, vol. 106(C), pages 17-30.
    7. Ze-Nian Wang & Jun Chen & Wen-Chieh Cheng & Arul Arulrajah & Suksun Horpibulsuk, 2018. "Investigation into the tempo-spatial distribution of recent fire hazards in China," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 92(3), pages 1889-1907, July.
    8. Shen, Shui-Long & Lin, Song-Shun & Zhou, Annan, 2023. "A cloud model-based approach for risk analysis of excavation system," Reliability Engineering and System Safety, Elsevier, vol. 231(C).
    9. Zi-Yun Zhang & Fang-Le Peng & Chen-Xiao Ma & Hui Zhang & Su-Juan Fu, 2021. "External Benefit Assessment of Urban Utility Tunnels Based on Sustainable Development," Sustainability, MDPI, vol. 13(2), pages 1-23, January.
    10. Hámor-Vidó, Mária & Hámor, Tamás & Czirok, Lili, 2021. "Underground space, the legal governance of a critical resource in circular economy," Resources Policy, Elsevier, vol. 73(C).

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