Public-Private Negotiation of the Increase in Land or Property Value by Urban Variant: An Analytical Approach Tested on a Case of Real Estate Development

A META-ANALYSIS OF THE PUBLIC-PRIVATE PARTNERSHIP LITERATURE REVIEWS: EXPLORING THE IDENTITY OF THE FIELD

The growing literature in PPP has made the field multi-disciplinary, over-differentiated, and unconsolidated. Taking a meta-analysis lens, this study investigates an unexplored identity of the field. It consolidates 61 review articles in PPP, analyses them across numerous review categories, and provides implications and suggestions for future studies. The review categories include the purpose of study, methods used, dataset details, journal and author details, primary disciplinary focus, awareness of previous review studies, and evolution of the PPP review literature. The findings reveal that the literature progressed through four evolution phases: from initiation, formation, growth, to expansion. Future review works should involve more empirical studies and examine the practical relevance of the PPP research. Promising areas are PPP governance, complexity, post-transfer phases, sustainability-related issues, and real estate development through PPP. The PPP researchers in construction engineering and management, property management, public management, and transportation will benefit from understanding the field’s identity, how it is currently being formed, promising areas, and where the literature is evolving.

An Innovative Approach for the Enhancement of Public Real Estate Assets

In a context of dwindling resources and growing financial constraints for public administrations, available real estate assets can become an important economic resource both for debt reduction through their alienation, and for carrying out public works through rehabilitation and defunctionalisation using private capital. The latter requires the adoption of innovative policies and strategies to enhance the value of the assets, especially those that are disused or abandoned, which very often represent a critical element in the overall management of public administrations. This study proposes a strategy for the enhancement of public assets using a little-experimented contractual form of public–private partnership. This approach, through a complex exchange transaction, avoids the total disposal of the assets, thus guaranteeing the social and environmental sustainability of the intervention, and also allows for the enhancement of the property with a financially convenient solution for both partners. The balance between the benefits of the two parties is in fact the basis of the model proposed for the final solution.