From Planning To Practice: Public-Private Partnership Model For Urban Public Asset Management In Karebosi Field, Makassar

Abstract

This study examines the implementation of public-private partnership (PPP) models in urban public asset management through a comprehensive analysis of the Karebosi Field revitalization project in Makassar, Indonesia. The research investigates how governance mechanisms, stakeholder engagement, and institutional arrangements influence the transformation of urban public assets through collaborative frameworks. A qualitative case study methodology was employed, following Yin's framework for exploring contemporary phenomena within real-life contexts. Data collection utilized multiple sources including in-depth interviews with key stakeholders from government agencies and private partners, complemented by extensive document analysis of legal agreements, policy frameworks, and project reports. Data analysis followed Miles and Huberman's interactive model comprising data reduction, display, and conclusion drawing. The study reveals that while PPP arrangements offer significant potential for addressing fiscal constraints and leveraging private sector expertise, successful implementation requires robust institutional frameworks across three critical phases: initiation, design, and execution. Key challenges identified include inadequate stakeholder consultation during project initiation, regulatory gaps in subsurface development rights, and limited government capacity for complex PPP management. However, the project demonstrated successful technical delivery, innovative spatial integration of public and commercial functions, and adaptive financial restructuring capabilities. The research provides strategic guidance for practitioners and policymakers implementing urban PPP projects, emphasizing the importance of comprehensive stakeholder engagement, transparent procurement processes, and sustained community consultation throughout project lifecycles. This study contributes to theoretical understanding of PPP implementation in developing urban contexts, particularly regarding the balance between commercial viability and public benefit objectives in traditional urban landmarks transformation.