Among its permanent presence in the official and public awareness forums, the Saudi Authority for Accredited Valuers “Taqeem” participates in Jeddah Exhibition for Real Estate, Housing and Constructional Development (Restatex Exhibition Jeddah 2016),which will be held in Jeddah International Centre for Forums and Exhibitions, during the period between 9thand 13th of February, organized by Chamber of Commerce and Industry in Jeddah.
The Authority’s participation comes after the implementation of the new ministerial resolution no 531 dated 3/6/1435 AH, which requires those who want to practice the profession of real estate valuation to get “Taqeem”membership of; including the adoption of their valuations by the official government agencies.
In this regard, the Secretary General of the Authority, Mr. Issam Al Mubarak says: “we found special interaction from those who work in the market,whether from real estate people, or who practice the real estate valuation, and that since the implementation of the resolution of getting Taqeem temporary membership, the Authority continues in granting the membership to everyone who fulfills the requirements and the conditions,indicating that those have the right to practice the real estate valuation in the kingdom, all the services related to courts to prove rights like seizure and implementation procedures and the distribution of inheritance, and acquisitions and mergers. Also in the valuation services of the private sector, whether banks or financing companies, and others, in coordination with the Ministry of Justice, and the Saudi Arabian Monetary Agency.
The Authority seeks through its participation in the exhibition to identify its various activities, and objectives which aim at organizing the valuation profession particularly the real estate valuation, through number of meetings and participations in the workshops, which will be held on the sidelines of the exhibition,besides the distributionof a range of leaflets and brochures to the exhibition’s visitors. Authority will also provide a detailed explanation about the importance of certified real estate valuation, and its role in maintaining the rights of workers in the sector,and their investments, on the grounds that the valuationis the most important elements of maintenance of savings and assets of public money, as well as the definition of what they have accomplished during the last period to consolidate its principles and objectives in the community.
The Authority participationis considered an important step to show the services provided to the dealers in thereal estate sector. It worth mentioning that the Authority was established to improve the valuation profession in the kingdom, anddevelop it by scientific means for the maintenance of savings and assets, and the law of the AccreditedValuers issued by the royal decree no 43/M dated 9/7/1433 AH.
The Authority sets many objectives and missions, and seeks to achieve them in reality. Themost important of them: preparation, development and accreditation of uniform standards for the valuation branches in whole and standards for each branch, and establishment of the general rules necessary for the fellowship certificate examination for each valuationbranch, and organization and supervision over continuing vocational education courses for developing the level of individuals involved in the profession and participation in symposiums and local and international committees related to the valuation profession, as well as establishment of the appropriate procedures for field control with the purpose of verification of applying the valuation standards by the accredited Valuer.
The Saudi Authority for Accredited Valuers “Taqeem” considers the valuation profession a promising profession in KSA and shall contribute to create many excellent job opportunities. The Authority aims to develop the valuation profession to reach a level par with notable professions, such as medicine, engineering and the like, through setting forth the necessary standards for the valuation assignments of real estates, economic establishments, equipments and movable property and so on. In addition to developing the valuation profession, raising the level of employees operating in such profession in terms of the ethical, technical and professional aspects, qualifying the young cadres via specialized programs as well as accrediting qualified valuers to practice the profession in all valuation sectors.
