After the issuance of the ministerial resolution number /531/ on 3/6/1435 which decrees that everyone who practices the real estate valuation profession must get the membership of the Saudi Authority for Accredited Valuers before 20/3/1437 A.H, and to carry that out the Authority determines the end of this year as a deadline for the exercise of the real estate valuation without getting its temporary membership.
According to Mr. Essam Al-Mubarak, the Secretary General of the Saudi Authority for Accredited Valuers, the Authority is currently granting the temporary membership to those who meet all the conditions and requirements, then they will have the right to practice the real valuation services in the kingdom, and all services relating to courts to prove the rights particularly in seizure, implementation, inheritance distribution, possession and merging procedures, as well as the private sector valuation services from banks and real estate financing companies in coordination with Ministry of Justice and Saudi Arabian Monetary Agency.
Mr. Essam Al-Mubarak focused on proceeding the implementation of the Authority strategy which invites to intensify the efforts to popularize the qualifying training courses for getting the membership, that allows practicing the real estate valuation profession, after passing the training courses for the international valuation standards, and ethics and code of conduct of the valuation profession, and passing the personal interview.
The Secretary General of the Authority added: “In the framework of our efforts to save the accredited valuers law in all its terms, we are working for organizing a group of training courses, which is divided to two parts ; the first one contains the courses which is considered to be one of the qualifying conditions in order to get the temporary membership in real estate valuation field, and it is the courses of the curriculum / 101 – 102- 103/ which was attended by more than 860 trainees during this year.”
“The percentage of success in the test and in passing the curriculum exceeded 70% of the attendance. The courses were held in 9 different cities which are Riyadh, Maka, Medina, Jeddah, Taef, Ehsa, Dammam, Abha and Tabouk. The second part of courses, the optional courses which aim at increasing the education and presenting the experiences and enhancing the concepts. The attendance hours of these courses will be calculated and considered as experience hours for the temporary members or applicants for membership, like the expropriation course which was held in Jeddah on the 6th of December and lasts on 17th of the same month,” he concluded.
The courses which are organized by the Authority about the expropriation and defines its training courses are held with the cooperation of the Royal Institution of Chartered Surveyors (RICS), and aims at providing comprehensive understanding to real estate expropriation for public utility in the kingdom and putting it into force, and getting benefits from the best international successful expertise and experience in the exercise of valuation and expropriation in the global market. This program is provided by Saudi experts, and trainers from the Royal Institution of Chartered Surveyors (RICS).
30 trainees passed this course in Riyadh, and about 27 trainees registered in the same course in Jeddah. In the beginning of this week two courses were launched about the curriculum /101/ in Damam and Tabouk, besides three similar courses in Riyadh will start next week. That will correspond with the efforts of the Authority to organize this profession and advancing it on social level.