IDA Business and Technology Parks - Land Valuations Contract

Description

IDA currently obtains field valuations annually from two appointed Valuers for a selected 30 IDA Business Park. Valuations are to be based on Open Market Value (OMV) as defined in the latest edition of the Red Book — the RICS Valuation, Global Standards. However, other equivalent standards for valuation will also be acceptable for the term of the Agreements. Initially, each Valuer will undertake an identical schedule of 30 field-based valuations and the price of land per hectare will be calculated based on the mean value. Thereafter at each valuation point at 6-month intervals, a selection of 9 sites will be selected by IDA for field valuation with the remainder for desk valuation throughout the life of the contract. IDA currently obtains field valuations annually from two appointed Valuers for a selected 30 IDA Business Park. Valuations are to be based on Open Market Value (OMV) as defined in the latest edition of the Red Book — the RICS Valuation, Global Standards. However, other equivalent standards for valuation will also be acceptable for the term of the Agreements. Initially, each Valuer will undertake an identical schedule of 30 field-based valuations and the price of land per hectare will be calculated based on the mean value. Thereafter at each valuation point at 6-month intervals, a selection of 9 sites will be selected by IDA for field valuation with the remainder for desk valuation throughout the life of the contract.