Joint ventures between the public and private sector are gaining popularity, as authorities seek to unlock the value of land while retaining control of what is developed. In return, developers see a way to access productive landholdings and work with trustworthy partners. In terms of the regulations governing public authorities entering into JVs, the most significant are the European Union Procurement Directives which establish public procurement rules. Public projects must comply with the regulations if the value of contracts is above specified thresholds. The regulations go by the acronym 'OJEU' which take its name from the Official Journal of the European Union in which contracts need to be advertised.
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