Saudi housing ministry, Taqeem ink cooperation deal

The Ministry of Housing signed a cooperation agreement with the Saudi Authority for Accredited Valuers (Taqeem), aiming to offer beneficiaries valuation services on their residential and commercial rentals, the ministry’s Ejar program said in a statement.

The agreement also entails enabling brokers to practice valuation according to Taqeem’s rules and regulations, and exploring setting special guidelines to license commercial valuers.

Beneficiaries, accordingly, will be able to request valuation services via Ejar portal, through connecting both Ejar and the valuation programs.

In addition, both parties will exchange related data and a general consultation service on real estate valuation. Valuers’ accreditation will also be provided.

As for developmental housing, the agreement also seeks to motivate certified valuation companies to provide related valuation and training, and take part in studies, as part of their social responsibility activities.