Valuation of investment properties (with measurement), owner-occupied properties and registered (immovable properties) securities on loans for the free state development corporation

Scope of work

• Valuation of investment properties (with measurement), owner-occupied properties and registered immovable properties held as security on loans, for the Free State Development Corporation.

Property portfolio to be valued

• 19 immovable properties across the Free State, listed by contract number and area:
• 10002862 — Virginia
• 10002863 — Welkom
• 10002804 — Bloemfontein
• 10002767 — Botshabelo
• 10002773 — Ladybrand
• 10002797 — Bloemfontein
• 10002960 — Phuthaditjhaba
• 10003038 — Harrismith
• 10002853 — Bultfontein
• 10002588 — Soutpan
• 10002571 — Bloemfontein
• 10003469 — Bloemfontein
• 10002894 — Harrismith
• 10003031 — Phuthaditjhaba
• 10003046 — Kestel
• 10002618 — Smithfield
• 10002855 — Henneman
• 10002841 — Welkom
• 10002848 — Welkom

The assignment covers the valuation of FDC's immovable property portfolio:

• Investment properties, valued with measurement of extent.
• Owner-occupied properties.
• Properties registered as security on FDC loans.

The portfolio spans commercial, retail, industrial, residential and vacant land in towns across the Free State, including Bloemfontein, Botshabelo, Thaba'Nchu, Phuthaditjhaba, Harrismith, Industriqwa, Selosesha, Tshiame, Senekal, Sasolburg, Heidedal, Zamdela, Bohlokong, Matwabeng and Thabong. Each asset is listed with township, erf number, title deed, LPI code and extent in square metres.

Scope of work

• Professional valuation of Free State Development Corporation (FDC) immovable assets, comprising:
• investment properties, including measurement (extent) of each property;
• owner-occupied properties;
• properties held as registered security on FDC loans.
• The asset register covers approximately 300 land parcels and buildings across the Free State, including Bloemfontein, Botshabelo, Thaba'Nchu, Phuthaditjhaba, Harrismith, Industriqwa, Selosesha, Tshiame, Senekal, Sasolburg, Heidedal, Zamdela, Bohlokong, Matwabeng and Thabong.
• Property categories in the register:
• Commercial and retail (shopping centres, offices, hotel);
• Industrial (factories, warehouses, stores);
• Vacant commercial, vacant industrial and vacant residential land;
• Residential properties;
• FDC's own offices.
• Each register line identifies the township or farm, erf or farm number, title deed reference, LPI code and registered extent in square metres.
• Several properties are marked for removal from the register (for example Phuthaditjhaba-A erfs 8699, 8700, 9083, 9086, 9091, 9100 and Witzieshoek North erfs 19 and 20); these should be confirmed with FDC before inclusion.
• The largest parcels include Randfontein 1878/8 (5 322 293 m²) and 1878/9 (719 477 m²) near Harrismith, Industriqwa erf 128 (553 648 m²) and erf 112 (303 408 m²), and Thaba'Nchu erf 7966 (60 412 m²).
• Deliverables must cover each property individually, with market value, extent and the basis of valuation stated per asset.

The Free State Development Corporation (FDC) is a public entity established under the FDC Act and classified as a schedule 3D entity under the Public Finance Management Act. Its mandate is to develop sustainable SMMEs in the Free State by providing financial and non-financial support, managing properties, and promoting investment and exports.

The FDC holds a property portfolio across the Free State and is required by its Asset Management policy to value investment properties and owner-occupied properties annually so that they are disclosed at fair value at year end.

The valuation covers investment properties, owner-occupied properties, and registered securities (immovable properties held as security for loans) for the financial years ending 31 March 2025, 31 March 2026, and 31 March 2027 in the districts of Lejweleputswa, Thabo Mofutsanyana, Fezile Dabi, Mangaung Metropolitan Municipality, and Xhariep.

Each property must be individually assessed and a separate valuation report prepared for each building, site, or property before the comprehensive valuation report is compiled. The service provider must use Surveyor-General diagrams or other property identification tools to verify property particulars and identify consolidated ERFs, perform deeds searches, reconcile results to the FDC's records, conduct its own measurements, and report and reconcile any discrepancies.

The service provider must also develop and submit a new electronic Investment Property Register in Microsoft Excel format, fully reconciled to the valuation reports and deeds information, with each property record referenced to its individual valuation report.

Property types include residential, commercial, industrial, vacant sites, properties appearing on property search engines but not on the FDC list, and pledged immovable securities.

Proposal requirements include: professional property valuers; costs inclusive of travel, accommodation, and other related costs; demonstration of valuation experience with references and testimonials; project leader and team CVs; availability for audit queries; company profile, professional registration documents, B-BBEE certificate or sworn affidavit, CSD registration, and valid tax compliance status PIN; earliest commencement date; project timelines and interim report dates; and final report submission by 31 March 2027.

Compulsory virtual briefing session: 18 November 2026 at 12:00.

• Attendance register open from 12:00 to 12:30; late registration will not be permitted and late arrivals will not be admitted.
• Meeting ID: 335 224 665 323 669 9
• Passcode: zw3vR69n

Closing date: 2 December 2026 at 12:00.

Bid validity period: 120 days after the closing date.

Final report submission date: 31 March 2027.

Technical enquiries

• Contact: Matee Mokhethi
• Email: [email protected]
• Telephone: 051 065 0060

Supply chain management enquiries

• Contact: Kelebogile Mokopi
• Email: [email protected]
• Telephone: 051 065 0060

Bid submission address

33 Kellner Street

Westdene

Bloemfontein

9301

Submission method

• Hand delivery: deposit the bid in the bid box at 33 Kellner Street, Westdene, Bloemfontein.
• Late bids will not be accepted.
• Bids must be submitted on the official forms provided; retyped forms are not accepted.

Returnable documents

• SBD 4 (Declaration of Interest): discloses whether any director or shareholder is employed by the state or connected to anyone at the FDC; a false declaration disqualifies the bid.
• SBD 6.1 (Preference Points Claim Form): claims points for specific goals (black women ownership, black youth ownership) with supporting B-BBEE certificate or sworn affidavit.
• SBD 7 (Contract Form): the successful bidder must complete and sign this form.
• Price Declaration Form: states the total bid amount including VAT and confirms the offer remains open for 120 days.
• Company profile and professional registration documents recognised for property valuers.
• B-BBEE certificate or sworn affidavit.
• Proof of CSD registration.
• Valid SARS tax compliance status PIN.
• Contactable reference letters on client letterhead, signed and dated, for projects completed within the last five years.
• CVs of the project leader and proposed team, indicating relevant experience.
• For Free State based companies claiming preference: municipal account not older than 3 months or a valid lease agreement.
• Proof of authority to sign (e.g. company resolution).

Disqualification risks

• Late submission.
• Failure to provide a valid tax compliance status PIN.
• Failure to submit any mandatory returnable document.
• Submission by a person in the service of the state, a company with such a director, or a close corporation with such a member.

Evaluation stages

1. Functionality evaluation: minimum qualifying score 70/100. Bids scoring below 70 are not considered further.
2. Preference point system (80/20): Price 80 points; Specific goals 20 points.

Functionality criteria (100 points)

• Relevant reference letters (40 points): letters must be on client letterhead, signed and dated, for projects completed within the last five years, and must include client name, project title, scope description, confirmation of property valuation involvement, contact person details, and confirmation of client satisfaction.
• 1–2 letters: 10 points
• 3–4 letters: 20 points
• 5–6 letters: 30 points
• 7 or more letters: 40 points
• Key personnel experience: Project Manager (50 points): must hold valid professional registration as a valuer.
• 1–2 years: 10 points
• 3–4 years: 20 points
• 5–6 years: 30 points
• 7–8 years: 40 points
• 9 years or more: 50 points
• Free State based companies (10 points): attach municipal account not older than 3 months or a valid lease agreement.

Specific goals (20 points)

• Black women ownership: 10 points (100% black women ownership claimed).
• Black youth ownership: 10 points (100% black youth ownership claimed).
• Supporting document: SANAS accredited B-BBEE certificate or sworn affidavit.

Scope of work

The FDC requires a professional property valuer to perform valuations, including physical measurements where required, of investment properties, owner-occupied properties, and registered securities (immovable properties held as security for loans) for the financial years ending 31 March 2025, 31 March 2026, and 31 March 2027.

Districts covered

• Lejweleputswa
• Thabo Mofutsanyana
• Fezile Dabi
• Mangaung Metropolitan Municipality
• Xhariep

Property types

• Residential properties
• Commercial properties
• Industrial properties
• Vacant sites
• Properties appearing on property search engines but not on the FDC list
• Securities pledged (immovable)

Deliverables

• Individual valuation report for each building, site, or property identified, completed before the comprehensive valuation report.
• Comprehensive valuation report incorporating all individual reports.
• New electronic Investment Property Register in Microsoft Excel format, including at minimum: property description and physical address; ERF/Farm/Portion details; title deed information; property category and usage; extent of land and building measurements; valuation date; valuation methodology applied; fair value and/or carrying value; measurement calculations and supporting assumptions; reference number linked to the corresponding individual valuation report; and geographical location.
• The register must be fully reconciled to the valuation reports and deeds information, with each property record referenced to its individual valuation report.

Methodology requirements

• Use Surveyor-General (SG) diagrams or other appropriate property identification tools to verify property particulars and identify consolidated ERFs.
• Perform a deeds search for all properties and reconcile results to the FDC's existing investment property records.
• Conduct and record own property measurements and include them in both individual valuation reports and the investment property register.
• Report and reconcile any discrepancies between deeds information, property measurements, and existing records.
• Valuation reports must state the assumptions used (basis for calculation and motivation for choice of assumption).

Proposal requirements

• Project costs must be inclusive of travel, accommodation, valuation, and any other related costs.
• Demonstrate valuation experience with a list of references with valid contacts and attach testimonials.
• Provide the project leader and CVs of the proposed team, indicating relevant experience.
• The team must be available to answer audit queries based on the valuations performed.
• State the earliest date to commence the assignment.
• Clearly state project timelines and interim report submission dates.
• Final report submission date: 31 March 2027.

The service provider must use Surveyor-General (SG) diagrams or other appropriate property identification tools to verify property particulars and identify consolidated ERFs.

A deeds search must be performed for all properties and the results reconciled to the FDC's existing investment property records.

The service provider must conduct and record its own property measurements and include them in both the individual valuation reports and the investment property register.

Any discrepancies between deeds information, property measurements, and existing records must be clearly reported and reconciled.

Valuation reports must state the assumptions used, including the basis for calculation and motivation for the choice of assumption.

The Investment Property Register must be submitted in Microsoft Excel format and must include at minimum: property description and physical address; ERF/Farm/Portion details; title deed information; property category and usage; extent of land and building measurements; valuation date; valuation methodology applied; fair value and/or carrying value; measurement calculations and supporting assumptions; reference number linked to the corresponding individual valuation report; and geographical location.

The register must be fully reconciled to the valuation reports and deeds information, with each property record referenced to its individual valuation report.

The FDC requires professional property valuers to physically value the properties.

Bidders must demonstrate valuation experience by providing a list of references with valid contacts and attaching testimonials from references.

Reference letters must be on the client's official letterhead, signed and dated, for projects completed within the last five years, and must include: client name; project title; brief description of the scope of work; confirmation that the project involved valuation of properties; name, designation, telephone number, and email address of the client contact person; and confirmation of the client's level of satisfaction.

Only reference letters meeting all these requirements will be considered for evaluation.

The project leader and CVs of the proposed team must be submitted, including a short indication of relevant experience.

The Project Manager must hold valid professional registration as a valuer.

Functionality points for experience:

• Reference letters: 1–2 letters = 10 points; 3–4 = 20 points; 5–6 = 30 points; 7 or more = 40 points.
• Project Manager experience: 1–2 years = 10 points; 3–4 years = 20 points; 5–6 years = 30 points; 7–8 years = 40 points; 9 years or more = 50 points.
• Free State based companies: 10 points (attach municipal account not older than 3 months or valid lease agreement).

Minimum qualifying score for functionality: 70 out of 100.

Pricing

• Price must be quoted as a total amount including VAT, covering all project management and consulting activities.
• The price must cover all costs; the FDC will incur no additional costs.
• The offer must remain open for acceptance for 120 days from the submission date.

Preference points

• Price: 80 points under the 80/20 preference point system.
• Specific goals: 20 points (black women ownership 10 points; black youth ownership 10 points).

Mandatory compliance

• CSD registration: proof of registration on the Central Supplier Database is required.
• Tax compliance: a valid SARS tax compliance status PIN must be submitted. Failure to provide it renders the bid invalid. A printed TCS certificate may also be submitted. For consortia, joint ventures, or subcontractors, each party must submit a separate TCS certificate/PIN/CSD number.
• B-BBEE: a SANAS accredited B-BBEE certificate or sworn affidavit is required to claim preference points for specific goals.
• Professional registration: the bidder must submit professional registration documents recognised for property valuers.
• Company profile: required.
• Proof of authority to sign (e.g. company resolution).
• Persons in the service of the state: no bid will be considered from a person in the service of the state, a company with a director who is a person in the service of the state, or a close corporation with a member who is a person in the service of the state.

Returnable forms

• SBD 4 (Declaration of Interest): discloses state employment and relationships with FDC officials; false declaration disqualifies.
• SBD 6.1 (Preference Points Claim Form): claims specific goals points with supporting B-BBEE certificate or sworn affidavit.
• SBD 7 (Contract Form): to be completed and signed by the successful bidder.
• Price Declaration Form: confirms the total price and 120-day validity.

The successful bidder will be required to complete and sign the SBD 7 contract form.

The bid is subject to the Preferential Procurement Policy Framework Act, 2000, the Preferential Procurement Regulations, the General Conditions of Contract, and any special conditions of contract.

The offer must remain open for acceptance for 120 days from the submission date.

The service provider must commence the assignment when required by the FDC and must be available to answer audit queries based on the valuations performed.

The final report must be submitted by 31 March 2027.

Functionality evaluation (100 points, minimum qualifying score 70)

• Relevant reference letters (40 points): letters must be on client letterhead, signed and dated, for projects completed within the last five years, and must include client name, project title, scope description, confirmation of property valuation involvement, contact person details, and confirmation of client satisfaction.
• 1–2 letters: 10 points
• 3–4 letters: 20 points
• 5–6 letters: 30 points
• 7 or more letters: 40 points
• Key personnel experience: Project Manager (50 points): must hold valid professional registration as a valuer.
• 1–2 years: 10 points
• 3–4 years: 20 points
• 5–6 years: 30 points
• 7–8 years: 40 points
• 9 years or more: 50 points
• Free State based companies (10 points): attach municipal account not older than 3 months or a valid lease agreement.

Preference point system (80/20)

• Price: 80 points
• Specific goals: 20 points (black women ownership 10 points; black youth ownership 10 points)
• Supporting document for specific goals: SANAS accredited B-BBEE certificate or sworn affidavit.