read the article below or follow the link provided and answer the following questions 1 to 3

IMPORTANT : Make use of references in-text reference,bibliography and harvad referencing and also provide introduction,Main-content and summary/conclusion to your answers.

https://www.engineeringnews.co.za/article/akani-to-develop-r350m-hotel-conference-facility-in-middelburg-2021-01-13/rep_id:4136

Article

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Akani to develop R350m hotel, conference facility in Middelburg

13TH JANUARY 2021

BY:TASNEEM BULBULIA

CREAMER MEDIA REPORTER

Property development, management and investment company Akani Properties has won a bid to develop a R350-million hotel and conference facility, in Middelburg, in Mpumalanga.

The facility will include a 150-room hotel and a 1 000-seater capacity conference centre. The hotel will boast standard rooms and suites, gym facilities and a fully licensed restaurant and bar, besides others.

The total capital expenditure will be funded through a combination of debt (20%) and equity (80%).

Once the development is complete, it is estimated that at least 200 full-time operational jobs will be created, with the majority of employment opportunities going to residents of the municipality.

"Middelburg, which has been growing steadily over the past few years - due to the mining industry and related industries - matches our investment strategy and criteria. We believe this investment will offer our investors sustainable returns in the long term, while also making lasting socioeconomic contributions."

With the Covid-19 heath crisis negatively impacting economic activity in the short term, we see infrastructure investments - either in social or economic infrastructure assets - as one of the mitigating interventions and a sustainable way of growing peri urban economies," says Akani MDZamani Letjane.

Akani has secured commitment from an international hotel operator to manage and operate the precinct.

The company says the operator has a significant international and local presence to market and operate the precinct on behalf of the developer.

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Question 1

Suppose you are the newly appointed procurement manager of Akani Properties and you have just been informed to procure the services of a local electrical contracting company which would be responsible for the installation of the electrical infrastructure of the hotel. All the designs and specifications of this project (including that of electrical infrastructure) would be the responsibility of Akani Properties. Describe the procurement process you would likely follow from the beginning right to the end of the relationship between your company and the prospective seller.

Question 2

Discuss the importance of the statement of work in such large projects and hence develop one (statement of work) for the above procurement relationship.

Question 3

Discuss any five contracts that may regulate the relationship between the buyer (Akani in this case) and the seller (winning bidder) and hence justify argumentatively, which of the contract you would be willing to enter into with the winning bidder.