The Saudi Authority for Accredited Valuers (TAQEEM) has granted the fellowship certificate in Real estate valuation for the first 120 persons in KSA after completing the training program offered by TAQEEM. This contributes to increasing the confidence and preserving the rights of customers as well as protecting the interests of the beneficiaries of the Real estate valuation sector in the Kingdom, whose number of transactions has exceeded 1,000,200 Real estate valuation transactions conducted during 2020.

TAQEEM explained that the training program that qualifies for the fellowship certificate includes 16 training courses that address basic procedures and methods, market studies, property’s highest and best use, real estate regulations, principles of urban planning and sustainability, studies of land economics, analysis of finance and real estate investment, accounting principles and real estate taxes, and the implementation of comprehensive projects for valuating and discussing specialized real estate. The members are also required to log 3000 hours of practical experience in Qima e-system.

On this occasion, Eng. Faisal bin Badr Al Mandil, Secretary-General Acting of TAQEEM stated, “Today we are witnessing a significant and historic era for the valuation profession, in which we celebrate the first steps of TAQEEM’s outputs and reap the benefits of years of work. In fact, several regulations and legislations require the assistance of accredited valuers to take important decisions. This batch and the next batches will have a major role in increasing confidence, transparency and security in the national economy.”

It is noteworthy that the Saudi Authority for Accredited Valuers (TAQEEM) has been entrusted with organizing, developing, qualifying and accrediting the practitioners of the valuation profession with its various sectors, whether it is the Real estate valuation branch that includes estimating the value of real estate of all kinds and related rights such as ownership and disposition of ownership, mortgage, insurance, dispossession, easement, and usufruct; the business valuation branch that includes the valuation of companies or the interests of ownership – whether they are individuals or companies – and the valuation of intangible assets such as patents, trademarks, goodwill, intellectual property; the vehicle damage assessment branch that includes the valuation of damages to a vehicle as a result of a traffic accident or natural disasters; and the machinery and equipment valuation branch which includes the valuation of factories, production lines, service devices, airport equipment, pumps, air-conditioning, operating equipment and systems, etc.