Public procurement notice: Contract Notice
Published: 2022-08-01
Buyer: Hellenic Corporation of Assets and Participations S.A. ( HCAP )
Country: GR
Contract type: Services
Procedure: Open procedure
CPV classification: 70000000 | 70110000 | 70111000 | 70112000 | 70330000
Estimated value: 500000 EUR
Submission deadline: 2022-09-12
Award criteria: The most economic tender

Technical requirements: REQUEST FOR PROPOSAL FOR A PILOT PROJECT IN MAPPING, SEGMENTING AND VALUATING A SAMPLE OF GROWTHFUND’S PORTFOLIO REAL ESTATE ASSETS
The Hellenic Corporation of Assets and Participations S.A. ( GROWTHFUND ) intends to review and appraise the real estate assets of the companies in its portfolio, to identify which of these assets are considered technically, legally and commercially mature, define strategies and exploit alternative options of commercial development and investment. Given the importance and complexity of its assets, this pilot valuation process will take place for 500 properties of the Hellenic Public Properties Company. During the pilot project, the Contractor will test a methodology for categorizing and segmenting a sample of the portfolio of real estate assets, perform field review/assessment and valuation.
The Contractor is expected to perform mapping, in depth assessment and valuation of 500 real estate assets of the Hellenic Public Properties’ Company. GROWTHFUND, in cooperation with HPPC, may increase the number of evaluated assets up to 1000.  The properties will be selected using an appropriate sample basis that will be agreed with GROWTHFUND, with the aim of covering all possible asset sizes and categories. The Contractor is expected to perform a thorough assessment of the Hellenic Public Properties’ Company databases, and in collaboration with GROWTHFUND select a sample that is adequately representative of the complexity.
The initial criteria of the segmentation used will be agreed between GROWTHFUND and the Contractor. The Contractor, is expected to assess the Hellenic Public Properties’ Company databases and evaluate the criteria according to which the data are organized. It will propose ways on how to structure the information so that the data are functional and based on market needs.
•	Collection of all available documentation for each asset and complete the provided template with all data received and clarifications where needed. It is assumed that HPPC in co-operation with GROWTHFUND will be responsible for delivering to the Contractor all the available documentation as per their request.
•	Α thorough review of the available document per property, including analysis of the planning status per asset, legal/ownership status and commercial maturity per asset, emphasizing all aspects that may affect its value and marketability.
•	Α real estate appraisal and determination of the market value (as per IVS/RICS definition) of the asset, based on commonly accepted real estate appraisal standards with detailed presentation of the valuation method or methods applied, including relevant inputs, assumptions and calculations. With regards to the occupied properties identified in the sample, these will be segmented and categorized but not valuated. In cooperation with GROWTHFUND, and based on the experience gained through the aforementioned asset review and valuation, the Contractor will:
•	Define the new asset segments and the batches in which HPPC’s assets can be organized for the optimization of their review.
•	Advise GROWTHFUND on the optimal methodology for the assessment and valuation of the whole real estate portfolio of assets, including the challenges/problems identified during the process.
•	Develop a common assessment template, both for calculations and reporting, with appropriate quantitative and qualitative assessment fields.
•	Estimate the required steps, actions and resources (time, people and cost) to perform the valuation at large (including the validation of the information), for each asset category).
The Contractor will focus on the sample of 500 assets for a period of 3 months. GROWTHFUND will have the option to activate an extension of the agreement for  an extra sample of 500 assets and an additional duration of another 3 months (6 months duration in total).The maximum budget amounts to € 250.000 excluding VAT for 500 assets. GROWTHFUND may extend the budget up to € 500.000 for 1000 assets.
The date and place of opening of the Proposals shall be determined following decision of the competent Growthfund body and as provided by Growthfund's Procurement Regulation. The date of the opening of tenders may change due to business needs.


Award value: 500000