Consultancy on Assessment of Market Rental Prices in Kismayo (Somalia) Consultancy

The primary objectives of this assessment are:

• Provide an accurate valuation of the lease arrangement for the Kismayo sub-office plot # D2A-81920-16 Farnoole, Kismayo, Jubaland in Somalia
• To determine the prevailing market rate for comparable properties in the Kismayo area, which comprise offices and guest houses.
• Using the market rate obtained, determine if there is any inflated amount in the rental fee paid compared to the calculated market rate for the five years from 1st March 2020 to 31st March 2025.

Scope of Work

The scope of work includes, but is not limited to:

• Conduct a thorough market assessment and calculate the prevailing market rate: This will involve researching and analyzing the current rental market in the Kismayo area for properties comparable in size, location, condition, and intended use to the Kismayo sub- office. Based on the market assessment and the specifics of the leased property, the assessor will determine a fair and accurate prevailing market rental rate for the comparable property.
• Assess the current leased property: This will include a review of the lease agreement, a potential site visit (if feasible and deemed necessary remotely or in-person), and consideration of the property’s specific characteristics.
• Identify and quantify any lease disparity: The assessor will compare the CARE Somalia rental fees with the calculated market rate and clearly identify and quantify any potential inflated amount.
• Provide a comprehensive report: The assessor will submit a detailed report outlining their methodology, data sources, findings, calculated market rate, and the identified lease disparity (if any), including the specific inflated amount.

For more details, click on the link below:

https://drive.google.com/file/d/1GGkmB-4C_Y0er-ydFfiiRAJEzJ4D9Xf-/edit

Tagged as: CARE, Kenya