He explained that the conference witnessed wide participation from real estate appraisal experts and financial oversight officials, as attendees discussed the role of real estate appraisal as a main tool to ensure the stability of the real estate market, enhance transparency, and support the national economy. He pointed out that the conference discussed developments in the real estate appraisal industry to provide a platform for scientific and professional discussion among experts. Real estate evaluation and parties associated with the evaluation and real estate investment process
the conference also focused on the need to spread community awareness of the importance of evaluating and enhancing integration between the competent authorities and relevant parties and keeping pace with regional and international developments in the real estate evaluation industry and the standards associated with it. He added that the recommendations that the conference concluded included several axes, the most prominent of which are:
Continuation of fruitful and constructive cooperation between the Financial Supervisory Authority, represented by its esteemed Board of Directors, headed by Dr. Mohamed Farid Saleh, and the Egyptian Society of Real Estate Appraisers, headed by Professor Dr. Ahmed Ragai Anis, in order to prepare a real estate database, as well as in the field of training and continuing education to raise the level of professional performance of the master appraisers, and out of belief in the role of appraisal. Real estate aims to preserve real estate wealth as one of the pillars of the national economy
Emphasizing the need for all government agencies and economic sectors in the country to seek the assistance of real estate appraisal experts registered with the Financial Supervision Authority and qualified to evaluate all real estate assets in a way that ensures a fair evaluation of those assets in the pricing processes for land offers, or evaluation for the purposes of compensation in cases of expropriation, or the evaluation of state assets, for The way the Financial Regulatory Authority calls for this
We call on the Central Bank, represented by its wise management, to expand the participation base of real estate appraisers and those registered with the Financial Supervision Authority in evaluating bank guarantees for banks operating in Egypt and to facilitate the registration process for those who meet the registration conditions.
Working to create a legislative framework for the real estate appraisal profession by seeking to establish a union that brings together real estate appraisal experts under its umbrella and involving the parties of the system and the competent authorities, under the auspices of the Financial Supervision Authority, in community discussions prior to issuing laws related to the real estate appraisal profession in Egypt.
Work on preparing a cooperation protocol between the Real Estate Development Chamber of the Federation of Egyptian Industries and the Egyptian Association of Real Estate Valuation Experts to prepare a unified code for spaces that will be circulated to all real estate development companies so that they adhere to it when determining loading rates.
The necessity of continuous communication and cooperation between Egyptian evaluation institutions and international evaluation institutions under the auspices of the Financial Regulatory Authority, as it is the body regulating the registration of real estate evaluation experts, in the field of keeping pace with updates to international evaluation standards and exchanging experiences in the field of training and continuing education through signing memorandums of understanding and joint work projects that aim to prepare Continuous training and qualification programs for experts in Egypt
The effective contribution of press and media institutions in spreading the culture of real estate appraisal and informing society of its importance through written, visual and audio publishing and digital media to cover all events or developments related to the real estate appraisal industry locally, regionally and internationally.
Submitting the conference’s recommendations to the responsible authorities and following up on communication with them through the association’s Board of Directors, headed by Professor Dr. Ahmed Anis, to work on achieving the desired goals of the real estate evaluation system and presenting what has been achieved from those recommendations at the conference in its next session.
