THE PUBLIC PRIVATE PARTNERSHIP ACCELERATION LAW IN GERMANY AND ITS EFFECTS ON CURRENT PRACTICE
||THE PUBLIC PRIVATE PARTNERSHIP ACCELERATION LAW IN GERMANY AND ITS EFFECTS ON CURRENT PRACTICE
||Book of Abstracts: 13th Annual European Real Estate Society Conference in Weimar, Germany
||In 2005 Germanyís government decided a new law to improve the conditions for Public Private Partnerships. Half a year after coming into effect itís time to take stock of the effects on current practice. After a prefacing overview of the current PPP-market in Germany the paper gives a short review of the modifications of seven federal laws which are caused by the acceleration law. As public procurement law is modified the ordering party is now able to use a more liberal procedure to find the best bidder for a planned project. The so-called dialog competition is an achievement for both parties - public and private. As it is less restricted than previous methods it allows modifications and accommodations in required demands during the bidding process. But due to certain unclear phrasings and after the first experiences it seems that the law should be upgraded. Changes in the Bundeshaushaltsordnung - the law that restricts the rights of public authorities - caused that it is now possible to transfer public real estate even if they are further on needed for the fulfillment of public assignments. In combination with the reorganisation of the investment law this means new opportunities and chances for the public real estate market in Germany. The aim of the paper is to assess to what extend the private investor is now able to participate in this market. For that purpose the resumee includes an overview of drawbacks and opportunities connected with the acceleration law and points out suggestions for improvements.
||Public Private Partnership (PPP); acceleration law; current PPP-practice in Germany; public real estate market; investment market
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