Large-scale public venue development and the application of Public-Private Partnerships (PPPs)

摘要

Large-scale venues for exhibitions and events are important public infrastructure. Developing venues have captured much of governments' attention due to the potential benefits the industry would bring to the community. However, venue development requires considerable capital and operating costs, unique standards of design and complicated operational issues. Public-Private Partnerships were introduced by governments as innovative delivery models to bring forward venue projects. This paper presents comparative case studies of two PPP venue projects in Hong Kong Special Administrative Region and New Zealand aiming to investigate key challenges for using PPPs in venue development and propose strategies to address the problems and assist future planning and organization for venue PPPs. The research shows that for a successful venue PPP, the following are critical features: (1) sound business case development; (2) streamlined financial arrangements; (3) robust tendering; (4) effective governance structure and partnership-based consortium; and (5) realistic risk allocation.