Real Estate Valuation: The Saudi Commission for Certified Valuers revealed that The volume of real estate assets that were evaluated during 2022 amounted to about 900 billion riyals, with 260 thousand real estate assets that varied between vacant land and residential buildings of various types, noting that it is possible to benefit from the evaluation services through the Values platform, which allows beneficiaries to obtain several offers to carry out the evaluation process and compare them and follow up all steps of the process and fully manage it through the system.”

500 establishments in Taqeem

The Saudi Commission for Certified Valuers "Taqeem" that the number of valuation facilities that have been licensed in various regions and cities of the Kingdom exceeded 500 facilities, including real estate valuation, economic facilities, machinery and equipment, and vehicle damage, indicating that all these processes are carried out through an automated system through reports that are deposited by the valuation facilities in the electronic value system.

The Board of Directors approved its strategic plan for 2022-2025, which focuses on six strategic objectives, namely improving the quality of the valuation profession, raising awareness of the valuation profession, enhancing the regulatory and supervisory environment, developing organizational effectiveness, ensuring financial sustainability, and empowering human capital.

The Authority indicated that the Board of Directors approved its strategic plan for 2022-2025.

Improving the quality of appraisal practices

<The Authority stated that it focuses through its strategic objectives on playing a pivotal role among valuation organizations, enhancing the status of "Taqeem" as a regulator and supporter of the valuation profession, supporting the growth and sustainability of valuation facilities in order to contribute to the maturity and transparency of the market, enhancing awareness and confidence in the market and consolidating confidence among market participants, improving the quality of valuation practices and providing reliable valuation reports, in addition to that it will double the work on monitoring for valuation facilities, with the aim of quality outputs and evaluation reports, as many regulations and legislations require the use of certified evaluators to make important decisions, so the evaluator has a role as a key player.

Real Estate Valuation