GRIDCo Real Estate Section

Estate Policy

When GRIDCo was formed, there was the need to manage and maintain the company’s properties in a manner which would support its operational needs. The Real Estate Section was then set up to achieve this objective.

The Estate policy was therefore enacted to guide the Section in executing its work effectively and efficiently.

INTRODUCTION

The Section’s vision is to plan and manage the Company’s properties in a cost effective way and deliver services in a timely manner to stakeholders satisfactorily.

VISION

To acquire, develop, manage GRIDCo assets and deliver quality service to clients and maximize investment value.

MISSION

FUNCTIONAL REPORTING SYSTEM CHART

Accommodation services Managing assets register Space allocation services (Offices) Cleaning services Catering services Furnishing services Payments: Property rate , ground rent, utility bills

and waste management and fumigation services Reception services Grounds and gardens management (Landscaping,

etc.) Maintenance through outsourcing

ESTATE MANAGEMENT

Procedure involved; Institutional Accommodation Rented Accommodation Guest House accommodation Hotel accommodation/reservation Keeping occupational list and it’s updating.

Accommodation Services

Coding of all minor fixed assets Assets register and updating it Movement of minor fixed assets from one

location to another. Boarding of unserviceable movable minor

fixed assets and forwarded to Procurement for its disposal.

Managing Assets

Office allocation Space management

Space Allocation Services

Outsourcing of services Inspections Final certification for payment

Cleaning Services

Procedure involved; Request process. Service type(Tea service, buffet, packed

lunch, snack or drinks, etc.) Lunch services currently outsourced. Processing of invoices submitted.

Catering Services

Furnishing is divided into residential furnishing and office furnishing. By policy, we have three main levels of residential furnishingResidential Furnishing;1. Level 1 – Chief Executive 2. Level 2 – Directors3. Level 3 – Senior staff4. Junior staff (G10 – G12)** - Currently furniture loan is available for permanent staff.

Furnishing Services

- Procedure - Levels of office furnishing

- Executive - Managers - Officers , etc.

Office Furnishing

Procedure: vet and process all bills regarding the following Property Rate Ground rent Utility bill (Electricity, water, telephone,

data, etc.) Waste Management Fumigation Services (Quarterly)

Payments

Managing the front desk Keeping records of visitations

Reception Services

Landscaping for aesthetic view Outsourcing services Inspection and certification for payment

Grounds and Garden Management

(OFFICES AND RESIDENTIAL) Routine maintenance works – daily in nature Preventive maintenance – Servicing Rehabilitations of dilapidated structures.

MAINTENANCE THROUGH OUTSOURCING

Procedure for maintenance and repair works◦ Filling of maintenance request form and

submitted to Estates.◦ Inspection and onward submission to the

maintenance Unit for necessary remedial action◦ Outsourcing of most of the remedial works

(except plumbing works which is done in-house)

Routine Maintenance Works

Servicing of equipment (Air conditioners, refrigerators, etc.) – Quarterly

Painting external and internal – Yearly

Preventive Maintenance

Capital valuation Rental valuation Furniture and equipment valuation Revaluation of minor fixed assets of the

Company Staff Housing Rent Advance

VALUATION/STAFF HOUSING

Open Market values Mortgage values Insurance values Replacement values

Capital Valuation

Office rental Residential rental Rent reviews Advert space rental, etc.

Rental Valuation

Procedure Application form Inspection/Valuation report Staff recommended or not

Rent Advance

Procedure for furniture ownership Valuation process (20% discount or 12½

savage rate) Assist the board of survey constituting

Procurement in valuing boarded items for disposal of obsolete items.

Furniture and Equipment Valuation

It is mandatory for every company to revalue its assets every four (4) years. Procedure Recent revaluation exercise revealed that

the revalued cost of the company’s assets (Land and building)as reflected in the balance sheet stands at GH₡855,038,211.45

Revaluation of Company’s Assets

Loan scheme includes the following- Purpose of loan- Requirements for the loan- Loan agreement with the trustee and the

borrower - Repayment of loan and interest- Security for loan- Inspection of site/building- Disbursement of loan- Effects of dismissal/termination from the service- Resignation/Death- Payback/Repossession condition

Staff Housing

Finance Staffing Resources Public Procurement Procedure involved in

renovation/rehabilitation. Difficulty in updating records due to

interference from other department.

CHALLENGES

The Real Estate is responsible for; Staffs’ total comfort in working effectively. Enhancing the value of company assets.

CONCLUSION

you can contact Estate on the following;plc:720-287/ 239

outlook: mavis.okine@gridcogh.com

Thank youTHE END

Any Questions?