Mohamed Ghobashy, a member of the Council of the Egyptian Society of Real Estate Valuation Experts, said that real estate evaluation is responsible for determining the value of the property in cases of purchase, sale, inheritance, and the like, and this matter is very influential, whether at the level of individuals or institutions. Developing accounting standards and introducing the fixed assets model, intangible value, and other procedures to influence the value of companies in the stock market.
He continued, one of the most prominent recommendations of the real estate appraisal conference is to pay attention to the continuous development and training of those working in the field of appraisal, as well as to rely primarily on professional workers accredited by the Financial Supervisory Authority to ensure a fair evaluation of assets. obashi pointed out that a similar invitation was sent to the Central Bank of Egypt to rely on evaluation experts accredited by the Financial Regulatory Authority, as well as to facilitate the registration processes for experts with the Central Bank, because it has additional controls for evaluation experts.
We also called on the Real Estate Development Chamber to have special legislation related to real estate appraisal experts, to regulate the real estate market, and it was agreed to unify the measurement method for the standard meter, and a unified “code” will be prepared regarding the areas, the loading percentage, and how to estimate them, so that the meter and its measurement mechanism are uniform among companies, whether by metres. Estimated or net .
