Three months separate the real-estate Valuers from practicing the profession

The admission committee in the Saudi Authority for Accredited Valuers granted - during last Shaban - the temporary membership of the authority to more than 90 practitioners of the real-estate valuation profession, who passed the personal interview and completed the requirements of the membership by passing the test of curriculum no/101/ "the international appraisal standards, the ethics and conduct rules of the valuation profession practices". Thereby the total number of Authority program attendants is /1007/ trainees since the beginning of the qualified program of the real-estate Valuers in order to gain the professional accreditation and granting them the license to practice the profession. /663/ trainees have attended /20/ programs regarding the curriculum no /101/ "the international appraisal standards, the ethics and conduct rules of the valuation profession practices". That in Riyadh, Jeddah, Madinah, Al-Ahsa, Dammam, Abha and Hail. /604/ trainees have passed the tests besides /259/ trainees in eight courses of curriculum no/102/ "the basic principles of the real-estate valuation" with the cooperation of the American appraisal institute. That in each of Riyadh, Jeddah and Al-Ahsa. /201/ trainees have passed its tests. Also the two courses regarding the curriculum no /103/ “the basic procedures of the real-estate valuation” were held in Riyadh and Jeddah, and it were attended by /85/ trainees. The Authority will hold courses for curriculum no /101/in Mekka during the period of 1-5/11/2015, in Riyadh during the period of 22-26/11/2015, in Tabouk during the period of 6-10/12/2015, in Dammam during the period of 13-17/12/2015 and in Riyadh during the period of 27-31/12/2015.

Mr. Essam bin Hamad Al-Mubarak, the Secretary-General of the Saudi Authority  for Accredited Valuers (Taqeem) said: “these courses are held as reflection of the Authority's efforts for regulating the valuation profession, developing the performance of the practitioners, and granting the Valuers the membership of the Saudi Authority for Accredited Valuers as implementation of the ministerial decision no / 531/ dated 3/6/1435H, issued that every real-estate Valuer practitioner should gain the membership of  the Saudi Authority for Accredited Valuers before the date of 30/7/1437H. The Authority membership will be given to those who fulfill the requirements in terms of providing services in real-estate valuation in the kingdom. And the need to their services increased in the courts in order to prove the rights, especially in the procedures of confiscation and implementation, distribution of inheritance, acquisitions and mergers. Also to provide the valuation services to the private sector and the real-estate financing companies, with the coordination of the Ministry of Justice and the Saudi Arabian Monetary Agency”.

He added: “The Authority dedicates it’s time to intensify efforts for the publication of the qualified training courses in order to gain the membership which allow the practice of the real-estate valuation profession, and that after passing the training courses of "the international appraisal standards, the ethics and the conduct rules of the valuation profession practice", and passing the personal interview.

It is worth mentioning that by putting the law of Accredited Valuers into force, the valuation will turn from commercial activity to profession. The law gave the Saudis members of Authority the precedence to make the registration in the advisory professions administration in the Ministry of Commerce and Industry, and applying to get a license for practicing the real-estate valuation profession. In the same time the interviews’ Committee in the Authority receives the membership applications through the electronic gate of the Authority, and arranges the interviews’ dates and their procedures. Also the listing committee in the Ministry receives the applications of issuance professional licenses for the Valuers who have the Authority membership and meet the conditions of listing in the register.

It is noteworthy that the cabinet decree was issued on 12/1/1436 to list the valuation profession under an existing and suitable title, like the jobs related to financing, accounting and engineering affairs. The Saudi Authority for Accredited Valuers launched a website for courses, tests and all other activities which will be held by the Authority. The website works through the electronic services of Qema, as an electronic services window provided and developed by the Authority, and allows those who benefit from its services to create their own files through the following link:

http://qima.taqeem.gov.sa/Qima/register.xhtml;jsessionid=BC57CAF9C7012272CF8BCBAB5E205634

The Authority - with the cooperation of the Royal Institution of Chartered Surveyors (RICS) - worked through last eight months on preparation of curriculum for specialized and optional courses to qualify the Valuers who want to participate in appraisal committees of expropriation of real-estate for public utility and temporary seizure of property. Its training program aims at providing a comprehensive understanding of the expropriation law of real-estate for public utility, temporary seizure of  property and applying it in the kingdom. And it also seeks to take advantage from the most successful international expertise and experience in valuation practices and expropriation in the international market. The first course was held in Riyadh on the 20th of Thou al Hajj 1436H.