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Abdullah, A K and Alshibani, A (2022) Multi-criteria decision-making framework for selecting sustainable private partners for housing projects. Journal of Financial Management of Property and Construction, 27(01), 112-40.

Ahadzie, D K, Proverbs, D G, Olomolaiye, P O and Ankrah, N (2009) Towards developing competency-based measures for project managers in mass house building projects in developing countries. Construction Management and Economics, 27(01), 89–102.

Al-Kharashi, A and Skitmore, M (2009) Causes of delays in Saudi Arabian public sector construction projects. Construction Management and Economics, 27(01), 3–23.

Bageis, A S and Fortune, C (2009) Factors affecting the bid/no bid decision in the Saudi Arabian construction contractors. Construction Management and Economics, 27(01), 53–71.

Burford, N K and Smith, F W (1999) Developing a new military shelter system: a case study in innovation. Building Research & Information, 27(01), 35–55.

Daget, Y T and Zhang, H (2019) Decision-making model for the evaluation of industrialized housing systems in Ethiopia. Engineering, Construction and Architectural Management, 27(01), 296–320.

Du, J, Jing, H, Castro-Lacouture, D and Sugumaran, V (2019) Multi-agent simulation for managing design changes in prefabricated construction projects. Engineering, Construction and Architectural Management, 27(01), 270–95.

Durdyev, S, Hosseini, M R, Martek, I, Ismail, S and Arashpour, M (2019) Barriers to the use of integrated project delivery (IPD): a quantified model for Malaysia. Engineering, Construction and Architectural Management, 27(01), 186–204.

Ginigaddara, B, Perera, S, Feng, Y and Rahnamayiezekavat, P (2022) An evaluation of offsite construction skill profiles. Journal of Financial Management of Property and Construction, 27(01), 16-28.

Han, J, Rapoport, A and Fong, P S (2019) Incentive structures in multi-partner project teams. Engineering, Construction and Architectural Management, 27(01), 49–65.

Hossain, L (2009) Communications and coordination in construction projects. Construction Management and Economics, 27(01), 25–39.

Hwang, B, Zhao, X and Lim, J (2019) Job satisfaction of project managers in green construction projects. Engineering, Construction and Architectural Management, 27(01), 205–26.

Kumar, A, Srivastava, V, Tabash, M I and Chawda, D (2022) Profitability determinants of infrastructure public private partnerships (PPPs): empirical evidence from Indian data. Journal of Financial Management of Property and Construction, 27(01), 91-111.

Lam, P T I and Wong, F W H (2009) Improving building project performance: how buildability benchmarking can help. Construction Management and Economics, 27(01), 41–52.

Leaman, A and Bordass, B (1999) Productivity in buildings: the 'killer' variables. Building Research & Information, 27(01), 4–19.

Liao, X, Lee, C Y and Chong, H (2019) Contractual practices between the consultant and employer in Chinese BIM-enabled construction projects. Engineering, Construction and Architectural Management, 27(01), 227–44.

Liu, S, Jin, H, Liu, C, Xie, B and Mills, A (2019) Government compensation and costs of non-competition guarantee for PPP rental retirement villages. Engineering, Construction and Architectural Management, 27(01), 128–49.

• Type: Journal Article
• Keywords: Construction; Design management; Case study;
• ISBN/ISSN: 0969-9988
• URL: https://doi.org/10.1108/ECAM-01-2019-0063
• Abstract:
  Targeting public–private partnership (PPP) rental retirement villages, the purpose of this paper is to bring forward the solution of insufficient research in a non-competitive guarantee (a restrictive agreement) towards the compensation and guarantee costs in consideration of benefit redistribution if the governments are unable to keep the promise on guarantee provision. Real option principles are applied to assess the public–private investment proportions and the expected return rates of the private sector in a non-competitive guarantee and analyse their effects on the public–private benefit and risk allocations as well as the success of the project. Instead of granting direct capital support, this research accomplishes the compensation of non-competition guarantee by adjusting the project benefit distribution ratios between the government and the private sector to achieve the option value of the guarantee. An empirical example with alternative scales, which is developed from an existing rental village in Geelong, is used to numerically verify the research process. The results illustrate that the option value of the non-competition guarantee plays an important role in supporting the implementation of the PPP rental retirement village projects. The option value of the non-competition guarantee has a close relationship with the guarantee level and the government guarantee cost, which is positively correlated with the guarantee level and negatively correlated with the government guarantee cost. To reduce the government guarantee cost, the government should carefully determine the public–private investment proportion, appropriately control the return rate of the private sector and approve the construction of the new project after the investment recovery of the private sector. This research mainly focusses on the economic loss of the government due to the guarantee responsibility. Further research could be conducted to determine the guarantee level more precisely and take the social cost of the government guarantees into consideration. This research is the first attempt to investigate the government compensation and costs of non-competition guarantee for PPP rental retirement village projects and will enhance the understanding of the nature of PPP applications. The evaluation process and the implementation of the compensation through the adjustment of benefit distribution provides a comprehensive method to analyse the non-competition guarantee of PPP projects and help the parties negotiate in good faith to agree on a method of redress.

Mahamadu, A, Manu, P, Mahdjoubi, L, Booth, C, Aigbavboa, C and Abanda, F (2019) The importance of BIM capability assessment. Engineering, Construction and Architectural Management, 27(01), 24–48.

Mahmud, A T, Ogunlana, S O and Hong, W T (2022) Understanding the dynamics of cost overrun triggers in highway infrastructure projects in Nigeria: a systems thinking modelling approach. Journal of Financial Management of Property and Construction, 27(01), 29-56.

Moohialdin, A S M, Lamari, F, Miska, M and Trigunarsyah, B (2019) Construction worker productivity in hot and humid weather conditions. Engineering, Construction and Architectural Management, 27(01), 83–108.

Ojo, A, Ogunsina, O and Ogunsemi, D R (2022) Assessment of cost management practices of civil engineering (project procurement) organisations in Ondo State, Nigeria. Journal of Financial Management of Property and Construction, 27(01), 57-75.

Owusu-Manu, D G, Amo-Asamoah, E, Ghansah, F A and Asumadu, G (2022) An analysis of the economic viability of waste-to-energy generation in the Kumasi metropolis of Ghana. Journal of Financial Management of Property and Construction, 27(01), 1-15.

Ozyurt, B, Dikmen, I and Birgonul, M T (2019) Clustering of host countries to facilitate learning between similar international construction markets. Engineering, Construction and Architectural Management, 27(01), 66–82.

Papamichael, K (1999) Application of information technologies in building design decisions. Building Research & Information, 27(01), 20–34.

Sang, L, Xia, D, Ni, G, Cui, Q, Wang, J and Wang, W (2019) Influence mechanism of job satisfaction and positive affect on knowledge sharing among project members. Engineering, Construction and Architectural Management, 27(01), 245–69.

Sarhan, J G, Xia, B, Fawzia, S, Karim, A, Olanipekun, A O and Coffey, V (2019) Framework for the implementation of lean construction strategies using the interpretive structural modelling (ISM) technique. Engineering, Construction and Architectural Management, 27(01), 1–23.

Sezer, A A and Bröchner, J (2019) Site managers’ ICT tools for monitoring resources in refurbishment. Engineering, Construction and Architectural Management, 27(01), 109–27.

Singla, H K and Samanta, P K (2022) Identification of critical success factors (CSFs) for real estate developers (REDs) in India. Journal of Financial Management of Property and Construction, 27(01), 76-90.

Wang, D, Fu, H and Fang, S (2019) The efficacy of trust for the governance of uncertainty and opportunism in megaprojects. Engineering, Construction and Architectural Management, 27(01), 150–67.

Wang, Y, Liu, J, Zuo, J and Rameezdeen, R (2019) Ways to improve the project management efficiency in a centralized public procurement system. Engineering, Construction and Architectural Management, 27(01), 168–85.

Yun, S and Caldas, C H (2009) Analysing decision variables that influence preliminary feasibility studies using data mining techniques. Construction Management and Economics, 27(01), 73–87.