The Real Estate Appraisal Centre (Taqyeem) in conjunction with the Dubai Real Estate Institute (DREI) has held the first Valuation course at the Dubai Land Department. Attending the course and passing the exam will be a prerequisite to the upcoming Valuer Registration which is in line with Dubai's efforts to regulate the real estate sector. Taqyeem shall be responsible for Valuer Registration in line with the appropriate legislation and through the Emirates Book Valuation Standards (EBVS).
Mohamad Khodr Al-Dah, Head of Taqyeem, stated that "We have completed a trial course for Valuers which will be the basis of the upcoming Valuer Registration at Dubai Land Department. The course will be overseen by the Dubai Real Estate Institute which is well suited to enhance the real estate knowledge in Dubai in line with our strategic plan".
The course will not teach Valuers how to perform valuation calculations, instead it will act as an "orientation course" that will cover aspects relevant to the local market. Topics such as Valuation Standards, Valuers' responsibilities, conflict of interest avoidance, ethics, reporting, legal matters will be covered in the course.
The course will take around 4 hours in addition to an allotted 2 hours for the exam. Registration for the course shall be via admission@drei.ae.
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course will help familiarise Valuers with the laws and regulations in force in the Emirate that will affect their work as Valuers in addition to guidance on the Emirates Book Valuation Standards. In addition to this course, DREI shall develop additional training material in Valuation to encourage and train local Emaratis to work in this exciting and challenging field.
Al-Dah pointed out that a Valuer's qualifications are pivotal to the valuation process, as thus Taqyeem encourages and recognises Valuers holding the best academic qualifications and international professional affiliations. This will help raise the standard of property Valuation in line with International Standards.