PPP PUBLIC PRIVATE PARTNERSHIP APPLICATION TO REAL ESTATE IN TURKEY

Feyzullah Yetgin

ERES from European Real Estate Society (ERES)

Abstract: The so-called public and private sector cooperation model (PPP) increasingly attracts interest and applications in recent years. A number of successful applications were realized by marrying the resources and dynamism of private sector and the vast experience of public sector. In such partnerships, public sector is dominant in defining the respective rights and obligations of the parties. European Commission is working on preparation of a guide for definition and application of PPP model. Certain member states of the European Union build infrastructures by employing PPP model. In Turkey, it is required to meet the housing demand of low-income classes as a principle of social state under the Constitution. However, the government lacks sufficient funds, so that it cooperates with private sector to allow building of projects on valuable plots of land, raises funds by employing a model of income sharing through sale of such plots, and uses said funds to built housing projects for low-income classes. This study reviews the applications and outcomes of the income sharing through sale of plots of land in Turkey as an example of PPP model. It is thought that said applications will be an example how to turn idle plots of land owned by especially the states of developing countries into economically viable assets by cooperating with private sector.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2006-01-01
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