Taqeem says 3 international valuation firms entered Saudi market

Saad Albeez, Communications Manager at the Saudi Authority for Accredited Valuers (Taqeem)

Saad Al-Baiz, Director of Communication at the Saudi Authority for Accredited Valuers (Taqeem), revealed that three new international valuation firms have entered the Saudi market, bringing the number of international valuers in the Kingdom to nine, one of which has a dual license to conduct two activities. 

In an interview with Asharq TV, he said that the three firms are PricewaterhouseCoopers (PWC), Baker Tilly, and Land Sterling, adding that their activities vary between the valuation of real estate, economic facilities and intangible assets.
 

The number of licensed institutions in the field of real estate valuation in Saudi Arabia rose to more than 450, with more than 2,700 employees. These institutions are key to the real estate market in various regions of the Kingdom, as they provide a professional opinion based on approved standards, which contribute to decision-making, both in buying and selling. financing or investment, Al-Baiz stated. 
 

Last November, Al-Baiz said that the total number of valuers accredited by the authority, who obtained membership in various branches (real estate, economic establishments, property and equipment, vehicle damages) reached about 3,000 valuers, 87% of whom are Saudis, according to Argaam's data.