Government | Thursday 26 November, 2015 12:59 pm |

With the presence of 5 governmental authorities representatives and more than 75 trainees

The Saudi Authority for Accredited Valuers (Taqeem) launched a new workshop entitled "the international standards of real estate measurement... the challenges and the opportunities", on the last Wednesday, 25 November 2015, in Intour Hotel in the Saudi capital Riyadh. The course was presented by the engineer the trainer Ahmad Sabri– the executive director of Taqeem academy- and it aimed at defining the effects resulting from the difference of the standards of the real estate measurement on the variant parties for the real estate process. It was for a group of specialists and those who are concerned in real estate valuation, and attended by almost 75 person.

The course program based mainly on the definition of the accredited international standards for real estate measurement, which was dealt with as initiative for the uniformity of measurement, and the avoidance of the effects resulting from the difference in the real estate valuation process , and the proposed mechanism to educate those who practice the real estate valuation with these standards, as well as holding open discussion about the influence of following uniformed standards for real estate measurement, and the implementation of the international standards of the real estate measurement on the valuation profession on one hand, and on the authorities related to valuation - in a way or another - on the other hand.

Essam bin Hamad Al-Mubarak, the Secretary General of the Saudi Authority For Accredited Valuers talks about the main aim of holding this course saying ; "From the determination of the Authority to organize the valuation profession, which started effectively in the real estate sector since last year, and after making a good progress in that , the Authority put full and specialized short, medium and long- term program, based on holding training courses and offers the membership for the real estate valuers and the business valuers , before the enforcement of the law last year. The Authority has determined– through the board of directors chaired by his Excellency Dr. Tawfiq Al Rabiah, the Minister of the Commerce and Industry – the end of the third month of 1437 H.A as deadline for getting the membership from the Authority for those who practice the real estate valuation.

Mr. Al-Mubarak added; "the Authority is keen on following the latest news in the global level regarding the international standards.  It attends and participates in the international standards workshops, and represents its members and conveys their ideas and suggestions. And this course is one of the courses that the Authority seeks to hold discussion with its member to make the parties work together according to one vision, and the Authority endeavors to make the formulation of any decision in the international level with the participation of the Kingdom of Saudi Arabian, to be part of this decision, and anything would be decreed or implemented shall be according to the effective laws in the Kingdom.

the Secretary General of the Saudi Authority for Accredited Valuers emphasizes saying : " the presence of Authority members, and representatives from the Saudi Council of Engineers, the Institute of surveying, the Saudi Standards Metrology and Quality Organization and the real estate committee in Riyadh Chamber of Commerce and Industry is considered to be very critical because of the need of the companies, business  and real estate for just valuation by qualified valuers who have required and desired education".

It is worth mentioning that after the utmost need to enhance the valuation profession in the Kingdom of Saudi Arabia, which is considered a vital element to secure public savings and fund assets, the Law of Accredited Valuers was issued pursuant to Royal Decree no. (m/43), dated (09/07/1433H) defining valuation as the process that determines the fair value of real estates, economic establishments, equipment or properties of different types for a specific purpose, The Accredited Valuers (Taqeem) started its activities aiming at developing the valuation profession to the level of a prestigious profession such as medicine, engineering…etc. by setting the necessary standards for the valuation of real estate, economic entities, equipment, and  movable property and so on.