Taqeem evaluates real estate assets worth SAR 100 bln in 2021

Faisal Almandeel, Secretary General of Saudi Authority for Accredited Valuers (Taqeem)

Faisal Almandeel, Secretary General of Saudi Authority for Accredited Valuers (Taqeem), said the future of local real estate sector is promising, which is evidenced in the real estate assets evaluated in 2021 at a total value of SAR 100 billion.

During his speech at the Real Estate Future Forum, Almandeel said the authority issued 127,000 evaluation reports for the beneficiaries of the real estate fund since the completion of linking with the fund in mid-2021.

The evaluator contributes to preserving the rights to several operations such as sale, purchase, acquisition, disputes and litigation, indicating that the evaluation is intended to estimate the value of a specific asset, for a certain purpose, at a specific time.

The authority aims to develop the evaluation profession, as well as qualify and train its practitioners, amid the strong performance of the market, Almandeel concluded.