<Based on this importance, the Chamber of Commerce and Industry in Jeddah, represented by the Real Estate Committee, held a workshop “Regulations and laws to organize the labor market for real estate valuation”, which brought together more than 150 real estate investors and those interested in real estate valuation and real estate auctions in the presence of the Chamber's Vice Chairman Mazen bin Mohammed Batterjee and Assistant Secretary General of the Chamber Engineer Mohiuddin Yahya Hikmi at the Business Owners Forum at the Chamber's main headquarters to discuss regulations and laws to organize the labor market for real estate valuation in the form of real estate appraisal.
Promising investments
The Vice Chairman of Jeddah Chamber, Mazen bin Mohammed Batterjee, revealed that the establishment of this workshop in order for this sector to receive its share of attention, care and support because the real estate market is full of opportunities and full of promising investments and there is no doubt that the national economy is based on this broad and accommodating sector of change and development, which, God willing, will have its laws, experts and various fields as in other fields.
He said that real estate valuation or real estate valuation is only part of this system, which means legalizing the value and giving the property to be valued its actual value at the time of valuation, whether that value is for rent, sale or mortgage, and real estate valuation has several benefits for the sector in general as it gives it strength and stability and keeps it away from the vibrations that reflect negatively on the real estate market.
He pointed out that real estate valuation has become thanks to the efforts and continuous attention not based on personal diligence but based on scientific methods and studied plans in this field and has achieved great progress and there are specialized bodies and experts with rich experiences in this field as it maintains the consistency of the real estate market and its economic base and represents the basic and effective role as it is the cornerstone of the real estate system in any real estate system in the world.
Qualification in real estate valuation
He stressed that the Chamber of Commerce and Industry in Jeddah has made successful efforts in organizing programs, workshops and even training diplomas in this field to meet the needs of the labor market and keep pace with the development and real estate movement in the Kingdom and find energies and expertise and benefit from local and international experiences and upgrade the professional levels and methods of performance and training for Saudi youth in entering the field of the real estate industry and drawing them a promising future in real estate development and development professions and supporting, accompanying and complementary works. Batterjee stressed that the valuation profession in the Kingdom is a promising profession that contributes to the creation of many distinguished career opportunities for Saudi youth, pointing to the need to upgrade it like the rest of the prestigious professions such as medicine, engineering, etc. by setting the necessary standards for real estate valuation work, economic facilities, equipment, movable property, etc. and developing the valuation profession and raising the level of its workers professionally, technically and ethically, qualifying young cadres through specialized educational programs and accrediting qualified residents to practice the profession in all branches of valuation.
The importance of real estate valuation
For his part, the Secretary General of the Saudi Commission for Accredited Valuers Issam bin Hamad Al Mubaraki highlighted the importance of the Commission and its leading role in regulating the real estate valuation market, noting the gains that can be achieved if joining under the umbrella of this body that deals with the regulation of the most vital sectors.
Engineer Sultan Al-Jaris from the Authority also discussed the executive regulations that govern the work mechanism, highlighting the conditions that must be met by residents wishing to join the membership of the Authority and explaining the stages of affiliation to its membership.
The Vice Chairman of Jeddah Chamber, Mazen bin Mohammed Batterjee, revealed that the establishment of this workshop in order for this sector to receive its share of attention, care and support because the real estate market is full of opportunities and full of promising investments and there is no doubt that the national economy is based on this broad and accommodating sector of change and development, which, God willing, will have its laws, experts and various fields as in other fields.
He said that real estate valuation or real estate valuation is only part of this system, which means legalizing the value and giving the property to be valued its actual value at the time of valuation, whether that value is for rent, sale or mortgage, and real estate valuation has several benefits for the sector in general as it gives it strength and stability and keeps it away from the vibrations that reflect negatively on the real estate market.
He pointed out that real estate valuation has become thanks to the efforts and continuous attention not based on personal diligence but based on scientific methods and studied plans in this field and has achieved great progress and there are specialized bodies and experts with rich experiences in this field as it maintains the consistency of the real estate market and its economic base and represents the basic and effective role as it is the cornerstone of the real estate system in any real estate system in the world.
Qualification in real estate valuation
He stressed that the Chamber of Commerce and Industry in Jeddah has made successful efforts in organizing programs, workshops and even training diplomas in this field to meet the needs of the labor market and keep pace with the development and real estate movement in the Kingdom and find energies and expertise and benefit from local and international experiences and upgrade the professional levels and methods of performance and training for Saudi youth in entering the field of the real estate industry and drawing them a promising future in real estate development and development professions and supporting, accompanying and complementary works. Batterjee stressed that the valuation profession in the Kingdom is a promising profession that contributes to the creation of many distinguished career opportunities for Saudi youth, pointing to the need to upgrade it like the rest of the prestigious professions such as medicine, engineering, etc. by setting the necessary standards for real estate valuation work, economic facilities, equipment, movable property, etc. and developing the valuation profession and raising the level of its workers professionally, technically and ethically, qualifying young cadres through specialized educational programs and accrediting qualified residents to practice the profession in all branches of valuation.
The importance of real estate valuation
For his part, the Secretary General of the Saudi Commission for Accredited Valuers Issam bin Hamad Al Mubaraki highlighted the importance of the Commission and its leading role in regulating the real estate valuation market, noting the gains that can be achieved if joining under the umbrella of this body that deals with the regulation of the most vital sectors.
Engineer Sultan Al-Jaris from the Authority also discussed the executive regulations that govern the work mechanism, highlighting the conditions that must be met by residents wishing to join the membership of the Authority and explaining the stages of affiliation to its membership.
