The Saudi Authority for Real Estate Appraisers has clarified that no person is entitled to practice in the appraisal sector unless they become a basic certified appraiser, which requires passing Course (107) and completing 2,000 appraisal hours.

The Authority recently concluded a real estate appraisal course, attended by 43 individuals and lasting five days at the headquarters of the Makkah Chamber of Commerce and Industry, with the aim of training professionals capable of determining the true value of all commercial assets and economic facilities, and concluded with a final exam.

Engineer Hamid Salim Al-Qurashi, a member of the Saudi Authority for Certified Appraisers, explained to “Tawqeef” that the participants received a course (101), which is an introduction to valuation standards, the Code of Ethics and Conduct for the Valuation Profession, and the Certified Valuers System and its implementing regulations—a foundational course in this field. He noted that the valuation courses conclude with Course (107)

He noted that the course is of particular importance, as upon passing the exam, the appraiser is entitled to become a provisional appraiser provided they pass the personal interview and have been practicing appraisal prior to Rabi’ al-Awwal of 1434 AH, whereas no one is entitled to practice in this broad sector until they become a full-fledged certified appraiser, which occurs upon passing Course (107) and completing 2,000 hours of appraisal work.