Investment property valuation services for PRASA – 36-Month contract

Returnable documents

• Form C (Tender Form): completed, signed and dated by a duly authorised signatory, with witnesses.
• Board resolution or certificate of partners/members: certified copy authorising the signatory to bind the bidder, annexed to Form C.
• Negotiating team: full names, capacity and signatures of the persons authorised to negotiate on the bidder's behalf should PRASA shortlist the bid for post-tender negotiations.

Offer conditions

• Tender validity: a minimum of 90 days from the closing date must be stated on Form C.
• Pricing: the offer is made at the prices in the schedule of prices or bills of quantities, or as a lump sum where no schedule forms part of the contract, with all applicable taxes included.
• Amount in words prevails over the amount in figures.
• Where unit rates are extended incorrectly, the unit rate governs; for architectural building work the total amount governs and individual items are adjusted to match it.

Appointment of a credible and experienced service provider with the capacity and resources to carry out investment property valuation for PRASA over a 36-month period.

• Deliverable: investment property valuations performed in accordance with the project specification and the schedule of RFP documents.
• Completion periods and any staged completion are as set out in the project specification.

Performance security

• A performance bond equal to 10% of the contract price (VAT inclusive) must be lodged with PRASA on acceptance of the tender.
• The bond must be issued by a bank registered in South Africa.

Penalties

• Late completion of the works, or of any stage, attracts a penalty under the Conventional Penalties Act as provided in the project specification.
• Relief from a penalty is granted only where the bidder proves the penalty is disproportionate to the prejudice PRASA suffered.

Failure to perform after award

• If the bidder fails to sign the contract when called upon, or fails to furnish satisfactory security, PRASA may recover the cost of re-tendering or of accepting a less favourable tender.

Post-award obligations

• Documentary proof of Workmen's Compensation cover, securities and insurance must be submitted within 30 working days of notification of award.
• The formal contract must be signed within 7 working days of PRASA notifying the bidder that the contract documents are ready.
• A certified board resolution or equivalent authority must accompany the tender.

Contract risk

• Non-compliance with any material term of the RFP is a material breach and grounds for cancellation.

Contract term

• 36 months from the date of notification of acceptance.
• Completion periods, staged completion and extensions of time are as laid down in the project specification.

Contract formation

• Acceptance of the tender obliges the bidder to conclude a written contract with PRASA; the tender, covering letter, subsequent correspondence and PRASA's acceptance form part of it.
• The formal contract must be signed within 7 working days of PRASA confirming the documents are ready.

Security and insurance

• Proof of Workmen's Compensation, securities and insurance cover must be produced within 30 working days of the award notification.
• A performance bond of 10% of the contract price (VAT inclusive) from a South African registered bank is required.

Penalties

• Penalties for late completion apply under the Conventional Penalties Act as specified in the project specification; ordering of alterations, extras, additions or omissions does not affect PRASA's claim.

Document precedence

• The tender documents are complementary. The project specification prevails over the other listed documents, but a covering letter or related correspondence prevails over all of them.

Breach

• Failure to comply with any material term of the RFP is a material breach entitling PRASA to cancel.

Closing date: 27 November 2026 at 12:00 (midday)

Compulsory briefing (virtual, Microsoft Teams): 10 November 2026 at 11:00

• Meeting link: https://teams.microsoft.com/meet/3322127188870436?p=M5NUyUIHbVM8phck6i
• Meeting ID: 332 212 718 887 043 6
• Passcode: xQ9Zr7EG

Closing date for questions: 13 November 2026 at 16:00

Closing date for responses to questions: 17 November 2026

Bid issue date: 28 October 2026

RFP available from: 28 October 2026 on National Treasury e-Tender Portal (www.etenders.gov.za)

Enquiries and submissions contact:

• Contact: Max Mashabane
• Email: [email protected]
• Telephone: 011 013 1463

Complaints: [email protected]

Submission address:

Passenger Rail Agency of South Africa (PRASA)

Umjantshi House

30 Wolmarans Street

Braamfontein

Johannesburg, 2001

Service delivery: PRASA property portfolio across all South African provinces.

Submission method: sealed envelope deposited in the PRASA tender box at the main entrance of Umjantshi House.

Two-envelope packaging required:

• Envelope 1 (Volume 1): Part A (Mandatory Requirements) and Part B (Technical/Functional response to scope of work).
• Envelope 2 (Volume 2): Part C (Financial Proposal and Specific Goals) in a separate sealed envelope.

Submission requirements:

• One original, optional copies, and an electronic version on a memory card or external hard drive, clearly marked with the bidder's name.
• All responses in English, A4 format (illustrations up to A3), bound, pages consecutively numbered.
• Signatures in black ink; copies of original documents certified by a Commissioner of Oaths.
• Original signed by an authorised person; proof of authorisation must be included.
• For consortia/JVs, each member's authorisation must be included.

Returnable forms (all mandatory, sign with black ink):

• Form A (SBD 1, Invitation to Bid): bidder and contact details, signed as the offer cover page.
• Form B: Terms and Conditions for Bidding.
• Form C: Tender Form (Pricing Schedule).
• Form D: Certificate of Attendance for the compulsory briefing.
• Form E: Statement of Works successfully carried out by the bidder.
• Form F: Security Screening Form.
• Form G: Acknowledgement.
• SBD 4 (Bidder's Disclosure): declares whether any director or shareholder is employed by the state or connected to the procuring institution.
• SBD 5: National Industrial Participation Programme.
• SBD 6.1: Preference Points Claim Form under the PPPFA 2022.

Disqualification risks:

• Submitting late or to the wrong address.
• Missing any mandatory returnable document.
• Any attempt to canvass PRASA officers or employees between closing and award.
• Collusion between bidders.
• Making or offering gifts to PRASA employees or consultants.
• Falsification of information (leads to contract cancellation and restriction).
• Altering bid prices after closing unless contractually allowed.

Three-stage evaluation:

• Stage 1: Compliance – must meet all mandatory requirements.
• Stage 2: Technical/Functionality – evaluated from Envelope 1.
• Stage 3: Pricing and Specific Goals – evaluated from Envelope 2, using the 80/20 preference point system (price 80 points, specific goals 20 points).

Preference points: awarded for specific goals under the PPPFA 2022.

PRASA reserves the right to negotiate a market-related price with the highest-scoring bidder, then the second- and third-highest if needed, or cancel the bid.

Bidders may be called for presentations of their offers during evaluation.

Scope: Conduct annual investment property valuations for PRASA's portfolio of investment properties, covering FY2027, FY2028 and FY2029 (financial years starting 1 April and ending 31 March).

Property count and outputs:

• 400 investment properties/assets.
• 7 high-income stations: Cape Town, Johannesburg Park, Pretoria, Mabopane, Durban, Berea, Isipingo.
• 2 additional high-income stations (to be advised).
• Estimated up to 220 individual valuation reports, estimated as:
• Undeveloped land: 16 reports.
• Developed sites: 195 reports.
• Station complexes: 9 reports.

Contract period: 36 months, ideally starting 1 December 2026.

Valuation work includes:

• Data collection: asset list, lease income/terms, maps, SG diagrams, title deeds, municipal valuation, zoning.
• Property inspections: technical inspection, visual inspection of surroundings, photographs.
• Market research: comparable sales, property agent details, capitalisation and vacancy rates, expense ratios; cite latest sources (SAPOA Cap and Data Survey, Rode Report).
• Valuation reports per site, including owner details, legal description, stand size, property details (size, construction, condition), motivation for unutilised bulk/zoning/usage, recent sales, determination of value, certificate of value, suggested rent per hectare/m² per asset category.

Compliance standards:

• Property Valuers Profession Act.
• International Valuation Standards (IVS) or SA Valuation Standards.
• Municipal Property Rates Act (MPRA).
• Applicable MFMA/PFMA requirements.

List of current sites provided at the compulsory briefing.

Responses should be clear and concise, with a concise Executive Summary that outlines the methodology and is followed throughout.

Use numbered headings, bullet points, sections, appendices and schedules.

Address each requirement succinctly, using the RFP's terms and definitions.

Include a Certificate of Acquaintance with the RFP terms and conditions.

Note: Site visits and property inspections are part of the valuation work, so bidders must plan for physical access to properties.

Form E (Statement of Works Successfully Carried Out by Bidder) must be submitted, demonstrating relevant experience.

The RFP requires a 'credible and experienced expert service provider' with capacity and resources.

The extractor did not provide specific minimum years or number of reference projects; these details may appear in the full technical evaluation criteria.

Valuation reports must comply with International Valuation Standards (IVSC) and all relevant standards.

Reports must reflect a thorough understanding of the property, including owner details, legal description, stand size, and property characteristics.

Market research must cite the latest available sources (e.g., SAPOA Cap and Data Survey, Rode Report).

Bidders must ensure alignment with the Property Valuers Profession Act, International Valuation Standards, Municipal Property Rates Act, and applicable MFMA/PFMA requirements.

Pricing schedule (Annexure 5, Form C) must be submitted in Volume 2 (Envelope 2).

Bidders must submit a financial proposal priced per the pricing schedule format provided.

PRASA may negotiate a market-related price and may conduct BAFO.

No details of bill of quantities or rates were extracted.

Pricing: submit financial proposal in Volume 2 (Envelope 2) only.

PRASA may negotiate a market-related price with the highest-scoring bidder; if no agreement, it may negotiate with the second- or third-highest, or cancel. It may also invite Best and Final Offer (BAFO) if no proposal meets requirements.

Bidders must bear all costs of preparing and submitting the proposal; PRASA will not reimburse any costs.

PRASA may request annual financial statements prepared and signed off by a professional accountant for due diligence.

Validity period: 90 working days from closing date; bidders may be asked to extend.

No bid security or guarantees are stated.

Central Supplier Database (CSD):

• Must be registered on the CSD (https://secure.csd.gov.za) and provide the supplier number and unique registration reference number.
• Foreign suppliers with no locally registered entity are exempt.
• For consortia/JVs/subcontractors, each party must be registered.

Tax compliance:

• Must be tax compliant at submission and for the entire contract term.
• Must supply a SARS Tax Compliance Status (TCS) PIN.
• Tax compliance verified via CSD.

B-bbee:

• Bidders responding as a JV or consortium with B-BBEE entities must state intention and submit a signed JV/consortium agreement showing percentage split and responsibilities, or written confirmation of intent; award follows only after signed agreement.
• SBD 6.1 (Preference Points Claim) required.

Bidder declarations:

• SBD 4 (Bidder's Disclosure) – declare any state employment or connections.
• Bidder's declaration regarding PEP/PIP (politically exposed persons / prominent influential persons).
• Declaration of no conflict of interest.
• Certificate of Independent Bid Determination (no collusion, no price disclosure).

Other:

• Must comply with all applicable laws and regulations.
• May be required to sign confidentiality undertakings.

Contract is for 36 months, ideally starting 1 December 2026.

PRASA reserves the right to:

• Modify the RFP and request re-bids.
• Withdraw or amend the RFP without notice or liability.
• Reject non-conforming proposals.
• Disqualify late submissions.
• Request additional documents.
• Award or not award at any time.
• Validate all information submitted.
• Request annual financial statements for due diligence.
• Not accept changes to bid rates after closing.

Confidentiality: All information provided is confidential; bidders must not copy, reproduce, or distribute without PRASA's written consent. Confidential information remains PRASA's property and must be returned on demand.

Bidders may review and amend the draft contract; changes must be shown with track changes, and the disc copy must be in Word format and not password protected.

If a contract is awarded based on incorrect information, PRASA may cancel the contract and place the bidder on the Restricted Suppliers list.

Gifts or inducements to PRASA employees lead to disqualification.

The tender seeks to appoint a credible and experienced expert service provider with capacity and resources to conduct investment property valuation for PRASA for a period of 36 months.

Scope of services:

• The service provider must conduct investment property valuations for PRASA.
• The contract period is 36 months, valued per year.
• Property categories to be valued:
• High income stations (7 defined stations) and (2 additional stations)
• Investment properties: undeveloped sites (estimated 16 sites)
• Investment properties: developed sites (estimated 195 sites)
• Pricing must be provided per valuation report for each category for each year.

The pricing schedule requires bidders to quote a fee per valuation report for each category: high income stations (7 defined stations, and 2 additional stations), undeveloped sites (estimated 16 sites), and developed sites (estimated 195 sites). Provide fees for Year 1, Year 2, and Year 3, total the fees exclusive of VAT, add VAT at 15%, and show the total inclusive of VAT.

Pricing schedule:

• Bidders must provide a valuation fee per category for each year (Year 1, Year 2, Year 3).
• Provide the total valuation fee exclusive of VAT, add VAT at 15%, and show the total price inclusive of VAT.

No specific compliance requirements stated in the source document.

The procurement seeks to appoint an expert service provider for investment property valuation services for PRASA, under a 36-month contract.

No returnable forms or submission instructions could be recovered from the available source material.

Bidders must demonstrate credibility, relevant experience, and the capacity and resources to conduct investment property valuations for PRASA.

The National Industrial Participation (NIP) Programme applies to all government procurement contracts with imported content, effective 1 September 1996. NIP is obligatory; the DTI's Industrial Participation Secretariat administers the programme. An NIP obligation is triggered when imported content equals or exceeds US$10 million, either in a single contract, multiple contracts totalling US$10 million over 2 years, a contract with a renewable option that would exceed US$10 million, or multiple suppliers of the same goods/services under one contract that together exceed US$10 million. The obligation is 30% of imported content (pro-rata for multiple suppliers). NIP obligations are discharged through DTI-negotiated agreements such as investments, joint ventures, subcontracting, licensee production, export promotion or R&D, and must be fulfilled within 7 years.

Closing date: 27 November 2026 at 12:00

Briefing session (compulsory): 10 November 2026 at 11:00, held via Microsoft Teams

Meeting ID: 332 212 718 887 0436

Passcode: xQ9Zr7EG

Tender document download available from 28 October 2026 on the National Treasury e-tender website.

For NIP: successful bidders with contracts over R10 million must report to the DTI within 5 working days after award.

Submission address:

PRASA Umjantshi House

30 Wolmarans Street

Braamfontein

Johannesburg, 2001

NIP contact (after award):

Name: Elias Malapane

Telephone: 012 394 1401

Facsimile: 012 394 2401

Email: [email protected]

Address: Department of Trade and Industry, Private Bag X84, Pretoria, 0001

No other named enquiry contacts provided.

Returnable forms (all must be completed and signed):

• FORM A (Invitation to Bid): bidder and contact details, signed as the offer cover page; proof of authority to sign must be attached.
• FORM D (Tender Briefing Session – Compulsory): attendance certificate and acknowledgment of having read the contract, specifications and conditions.
• FORM E (Statement of Works Successfully Carried Out): particulars of works carried out, including client, nature of works, contract/project period and value of works.
• FORM F (Security Screening Form): declares no previous convictions, civil judgments, pending criminal/civil proceedings, insolvency or liquidation; provides company, shareholder and banking details; consents to security screening of the company and directors. Section 3 (PSIRA good standing letter) applies only to security providers.
• FORM G (Acknowledgment): certifies that all information provided is true and correct; false information may lead to blacklisting and publicising the contravention.
• SBD 4 (Declaration of Interest): discloses whether any director, shareholder or connected person is employed by the state or has a relationship with anyone at PRASA; false disclosure disqualifies the bid.
• SBD 5 (National Industrial Participation Programme): certifies awareness of, and compliance with, NIP requirements for contracts with imported content; signing and submission is compulsory.
• SBD 6.1 (Preference Points Claim): claims B-BBEE points under the 80/20 system; supported by a B-BBEE certificate or affidavit.
• SBD 7 (Contract Form) will be required to be signed by the successful bidder.

Submission method: deposit in the bid box.

Bid box address:

PRASA Umjantshi House

30 Wolmarans Street

Braamfontein

Johannesburg, 2001

All bids must be submitted on the official forms provided (not retyped). Late bids will not be accepted. Bidders must be registered on the Central Supplier Database (CSD) with business registration, directorships/membership, identity numbers, tax compliance status and banking information.

Preference point system: 80/20 (for requirements up to R50 million, VAT included).

Points allocation: Price 80 points; Specific Goals 20 points; Total 100 points.

Price formula (80/20): Ps = 80(1 - (Pt - Pmin)/Pmin), where Ps = price points, Pt = price under consideration, Pmin = lowest acceptable price.

Specific goals (20 points):

• B-BBEE with at least Level 2: 10 points (evidence: B-BBEE certificate or affidavit; for a joint venture, a consolidated scorecard is accepted).
• EME or QSE 51% Black Owned: 10 points (evidence: audited annual financial statements and B-BBEE certificate/affidavit).

Failure to submit evidence for specific goals means no points for those goals. The organ of state may require substantiation of preference claims. Fraudulent claims may lead to disqualification, recovery of costs, cancellation of contract, restriction from state business for up to 10 years, or criminal prosecution.

Scope: appointment of a credible and experienced expert service provider to conduct investment property valuation for PRASA for a period of 36 months.

The bidder must have capacity and resources to perform the valuations.

National Industrial Participation (NIP) obligations apply where the contract has imported content equal to or exceeding US$10 million (or cumulative US$3 million per contract over 2 years reaching US$10 million). Obligation is 30% of imported content, to be discharged within 7 years via DTI-approved agreements (investments, joint ventures, sub-contracting, etc.). Successful bidders with contracts over R10 million must report to the DTI within 5 working days after award, including contract number, description, acceptance date, institution details, value and imported content.

Bidders must demonstrate that they are credible and experienced expert service providers with the capacity and resources to conduct investment property valuations for a period of 36 months. FORM E requires particulars of works successfully carried out, including client, nature of works, contract/project period and value of works for which the bidder was directly responsible.

Bid security: not stated in the provided document.

Performance guarantee: required only as part of the NIP process to the DTI for contracts with NIP obligations.

Retention and payment terms: not stated.

Reporting to DTI required for contracts in excess of R10 million.

Central Supplier Database (CSD) registration is mandatory; must include business registration, directors/membership/identity numbers, tax compliance status and banking information.

Tax compliance: submit a SARS tax compliance PIN or TCS; may submit printed TCS or provide CSD number if no TCS is available. Joint ventures, consortia and subcontractors must each submit separate proof.

Foreign suppliers: must complete the foreign supplier questionnaire; if not resident and with no branch, permanent establishment or income in South Africa, TCS is not required.

B-BBEE: Level 2 or higher required to claim 10 preference points; EME or QSE 51% Black Owned required for the other 10 points. Acceptable evidence: certificate or affidavit (for JV, consolidated scorecard).

No CIDB grading required (not construction).

No local content percentage stated. SBD 5 (NIP) applies where imported content is present.

The successful bidder must sign a written contract form (SBD 7). The National Industrial Participation (NIP) agreement is between the successful bidder and the DTI, and does not involve the purchasing institution. Under NIP, the bidder must sign an NIP obligation agreement, submit a performance guarantee to the DTI, submit a business concept for approval, then detailed business plans, and provide bi-annual progress reports on approved plans. Fraudulent preference claims may lead to disqualification, recovery of costs/damages, contract cancellation, restriction from state business up to 10 years, or criminal prosecution.

Preference points are awarded for price and specific goals under the 80/20 system. The specific goals are: B-BBEE at least Level 2 (10 points, evidence: certificate/affidavit; for JV a consolidated scorecard) and EME or QSE 51% Black Owned (10 points, evidence: audited annual financial statements and B-BBEE certificate/affidavit). Total 20 points for specific goals. The organ of state may require substantiation of claims; fraudulent claims lead to severe penalties.

INTERSITE, a wholly owned subsidiary of PRASA, appoints a consultant to deliver investment property valuation services under a consultancy agreement.

• Scope of services and delivery timelines: Annexure A.
• Payment schedule: Annexure B.
• Contract term: 36 months from the effective date to the completion date.
• Order of precedence where documents conflict: the agreement and its annexures first, then the RFP, then the consultant's bid.
• Discrepancies are to be resolved between the parties, failing which the matter goes to arbitration.

Contract notices address (INTERSITE)

Umjantshi House

30 Wolmarans Street

Braamfontein

Johannesburg

Attention: Legal Department

Postal address

Private Bag X101

Braamfontein

2017

Telephone: 011 085-7002

Facsimile: 011 085-7002

Appointment of a consultant to carry out investment property valuation work for INTERSITE, a wholly owned subsidiary of PRASA.

• Contract period: 36 months, running from the effective date to the completion date.
• Detailed scope of services and delivery timelines: set out in Annexure A (Scope of Services), which is not reproduced in this contract.
• Place of performance: largely at the consultant's own discretion, with work also performed by telephone and at any other location needed to deliver the services.
• Standard of performance: services must be delivered in line with Good Industry Practice and the agreement.
• Deliverables are governed by the scope schedule; no quantities, property list or valuation standards are specified in this contract.

Pricing and payment

• Contract price is inclusive of VAT.
• Payment follows the Payment Schedule in Annexure B.
• INTERSITE pays 60 days after receipt of a valid invoice.
• Funds are paid into the bank account stated on the invoice.

Invoice requirements

• Must show the consultant's VAT number.
• Must show full consultant details and bank account details.
• Must be a valid SARS tax invoice.
• Must quote the vendor number issued by INTERSITE.

Insurance

• Professional Indemnity Insurance with a well-established insurer or reputable underwriter is required.
• Cover must be maintained for 1 year after completion of the services, provided it remains available at reasonable premiums.
• Maximum liability cover is left blank in the contract and is to be agreed.

Variations

• Variations are capped at 10% of the agreement value.
• The consultant must submit cost and timeline impact within 5 business days of a variation proposal.

Liability

• Neither party is liable for indirect or consequential damages.
• The consultant indemnifies INTERSITE against property loss or damage, statutory breaches, death or personal injury claims, and breaches of its warranties.

Legal status

• The consultant must be a limited liability company registered under the Companies Act, 2008, validly existing and authorised to sign and perform the agreement.
• The consultant must not be a Restricted Enterprise (not listed as a tender defaulter or barred from contracting with public entities).
• No litigation, arbitration, investigation, liquidation, business rescue or deregistration proceedings may be pending or threatened that could materially affect performance.
• The consultant must not have engaged in corrupt activity in securing the appointment.
• All insurances required in the consultant's sector must be held.

Employment and labour

• The consultant must comply with the Labour Relations Act, Basic Conditions of Employment Act, Employment Equity Act and all other applicable employment legislation.
• Services must be rendered as an independent contractor under the Labour Relations Act and the Occupational Health and Safety Act, 1993.
• The consultant indemnifies INTERSITE against claims under section 198(4) of the Labour Relations Act.
• Any breach of employment legislation must be remedied within 10 days of written notice.

Ownership and B-BBEE

• No transfer of shares, change in composition or ownership, change to the memorandum or constitutive documents, or change to the B-BBEE component may occur without prior written consent of the Chief Procurement Officer and Group Chief Executive Officer.
• Consent is not needed where the change does not affect the consultant's B-BBEE status.
• Cession, delegation or subcontracting requires the other party's prior written consent; the consultant remains liable for subcontracted work.

• The consultant must render the services as an independent contractor as defined in the Occupational Health and Safety Act, 1993 and the Labour Relations Act.
• The consultant indemnifies INTERSITE against any claim brought under section 198(4) of the Labour Relations Act.
• No further occupational health and safety plan, specification or reporting requirement is set out in this contract.

Duration

• Runs from the effective date to the completion date (36 months).

Breach

• A party in breach has 7 days from written notice to remedy, or must show within 7 days that remedial steps have started.
• The aggrieved party may then claim specific performance and damages without further notice.

Termination

• Either party may terminate on the other's default.
• On INTERSITE default, the consultant is paid for approved services rendered to the termination date.
• On consultant default, the consultant pays damages and INTERSITE may terminate on 30 days' notice.
• Breach of the ownership, composition or B-BBEE change restrictions allows immediate termination.

Force majeure

• The affected party must notify within 5 days of becoming aware, with a follow-up notice within 5 days.
• If the event continues beyond 20 days, either party may terminate.

Confidentiality

• Both parties keep confidential information secret during the agreement and for 7 years after it ends.

Dispute resolution

• Negotiation within 10 business days, then arbitration in Johannesburg under AFSA rules.
• Urgent court relief remains available.

Governing law

• South African law; non-exclusive jurisdiction of the North Gauteng High Court.

Notices

• Valid by registered post, hand delivery or facsimile to the addresses recorded in the agreement.
• Registered post is deemed received on the 7th day after posting.

Other

• No partnership is created; the consultant has no authority to bind INTERSITE.
• No public or media statements without the other party's prior approval.
• Each party bears its own costs of negotiating and signing the agreement.
• The agreement is the entire agreement between the parties.