The Secretary-General of the Saudi Authority for Certified Appraisers, Engineer Faisal Al-Mandeel, revealed that more than 94,000 real estate asset appraisals were conducted during the first half of 2022, exceeding 240 billion.

This announcement was made during the Real Estate Valuation Forum organized by the Riyadh Chamber of Commerce, represented by its Real Estate Committee, in cooperation with the Saudi Authority for Certified Valuers “Taqeem” at the Chamber’s headquarters in Riyadh, which was opened by the Vice Chairman of the Chamber’s Board of Directors and Chairman of the Real Estate Committee at the Riyadh Chamber, Mohammed Al-Murshed.

The Authority’s Secretary General addressed the Authority’s efforts to fulfill its roles in regulating the valuation profession in the Kingdom, as well as in development, accreditation, oversight, and awareness-raising, noting that enhancing the quality of professional publications—including a number of manuals, standards, and rules—has contributed to increasing the reliability of issued reports and raising the quality of valuation reports from 40% in 2020 to 88% in 2021,2021, noting the role that appraisers play in safeguarding rights, achieving justice, and protecting interests.