Abstract
Redevelopment of old piers and yards aims at reconstructing old isolated area into new commerce and business zone. It is a private sector that develops new commerce and business zone.
Private sector usually worries about suffering from uncertainties of redevelopment as follows.
1. Uncertainty of completing construction of infrastructures by public sector and on schedule.
2. Uncertainty of changing land use control on the basis of negotiation with interested parties
3. Uncertainty of accomplishing the first stage development in certain extent of area in cooperation with developers of neighboring blocks.
In order to eliminate the uncertainties and let private sector participate in redevelopment, public sector should construct infrastructures with their own budget, carry out negotiation for changing land use control by himself and form multiple developments of neighboring blocks into one unit development. This wide range of roles of public sector is particular characteristic of redevelopments of old piers and yards and should be authorized in master plan of redevelopment so that public sector may take a leading part in PPP and accomplish redevelopment by PPP.
