The Saudi Authority for Accredited Valuers was established in 2012, to localize the valuation profession in the Kingdom of Saudi Arabia, regulate the valuation sector, and control intentional misinformation, to preserve public money and prevent deliberate misinformation, which protects the rights of individuals, companies, and government agencies related to financial and real estate issues.
The authority began its work by developing laws and regulations governing real estate appraisal services in the Kingdom of Saudi Arabia following international valuation standards and has developed a set of specific rules and regulations that organize and monitor the work of real estate valuation companies.
Then the work of the Authority developed gradually, as it started by launching training programs for all branches of valuation, and it organized the issuance of fellowships and accreditations to become only through it, as before the establishment of the authority, valuers were trained at the academies of some valuation companies operating in the Kingdom of Saudi Arabia, such as Qaim Company, which was previously known as Qaim Real Estate Appraisal Company.
In this article, we will talk about the Saudi Authority for Accredited valuers, its programs, and its services.
What is the Saudi authority for accredited valuers?
It is the regulator of the valuation profession in the Kingdom of Saudi Arabia, and the source of regulations and legislation that allow valuers to do their job following international valuation standards, as well as provide qualification programs to accredit and qualify practitioners for this profession based on scientific foundations and global practices.
What are valuation sectors according to “SAAV”?
- Real estate valuation
Calculating and estimating the value of lands, villas, apartments, towers, and residential complexes, for sale and purchase, financing, foreclosure, merger, and liquidation, based on the methods agreed upon and approved by the international valuation Standards council.
- Business valuation
The act or process of determining the value of various business entities or interests according to a purpose and basis of value.
- Machinery & equipment valuation
The act or process of determining the value of various machinery and equipment or interests ac- cording to a purpose and basis of value.
- Automobile damages valuation
The act or process of determining the value of repairing the vehicle including the spare parts or estimating the market value of the vehicle before and after the accident.
- Authority services:
- QIAM’s Objectives:
- TAQDEER Program
It is an integrated system for managing, operating, and organizing automobile damages valuation processes electronically, with high professionalism, following international valuation standards, “TAQDEER” system also helps with government procedures and technical linkage with all parties concerned with valuing vehicle damages.
- Digital library
The authority has launched its digital library, which includes manuals related to regulations, laws, and standards that govern and organize valuation services in the Kingdom of Saudi Arabia.