Valuation and Agency Hot Topics in MENA
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What is this blog about?
In this week’s blog, we look at a number of valuation and agency hot topics for RICS APC and AssocRICS candidates in MENA.
The hot topics we will look at are:
Dubai Land Department (DLD) requirements
RICS valuation guidance in MENA
Taqeem
Dubai Land Department (DLD) requirements
The DLD provides regulatory services for the public, real estate professionals, and developers in Dubai, such as:
Real estate licensing for brokers.
List of accredited real estate valuation and surveying companies.
DLD valuation standards and guidance.
Property management services for owners, tenants, and developers (e.g., Ejari and title deeds).
Anti money laundering protocols.
Repository of real estate legislation and circulars.
Market data on real estate transactions, residential rental index and real estate knowledge bank.
Dispute resolution through the Real Estate Violation System (RVS).
RICS Valuation Guidance in MENA
The RICS Valuation - Global Standards (Red Book, 2025) promotes and supports high-quality valuation practices globally. The primary purpose is to ensure that valuations are performed with consistency, objectivity, and transparency, which in turn builds public trust in the profession.
By providing a common framework, these standards help manage risk for both the valuer and the client, ensuring that professional standards meet the requirements of an evolving global market.
Many jurisdictions have their own guidance (National Supplements) published by RICS, including KSA, Dubai and Abu Dhabi. While the Red Book applies in each, any specific jurisdictional legal requirements take precedence.
In KSA, RICS state that valuers must comply with the Accredited Valuers Law and the regulations of Taqeem, i.e., only accredited valuers are legally permitted to practice.
In Dubai, valuations must adhere to the requirements set out by DLA and Real Estate Regulatory Agency (RERA). Valuers must follow the Emirates Real Estate Valuation Standards (EVS) alongside the Red Book. Members must also ensure that they are registered with the appropriate local licensing authorities before undertaking valuation work.
In Abu Dhabi, valuers must follow the regulations and circulars issued by the Department of Municipalities and Transport (DMT). The guidance highlights specific requirements for valuing land, including distinctions between residential, commercial and investment land categories as defined by Abu Dhabi law. It also reinforces the need for clear disclosure of any local assumptions or special assumptions required by Abu Dhabi's unique property market conditions.
Taqeem
Taqeem (Valuation in Arabic), the Saudi Authority of Accredited Valuers, is the government body and high level regulator responsible for overseeing and regulating the valuation profession in KSA.
Taqeem regulates, qualifies, and monitors professionals across several asset classes, including:
Real estate
Business valuation
Machinery and equipment
Precious metals and gemstones
Taqeem adopts the International Valuation Standards (IVS) fully and bridges the gap with local valuation practice. For example, it:
Translates the IVS into Arabic. As a result, many other Arabic-speaking countries where valuation work is not yet regulated adopt the guidance translated by Taqeem.
Integrates IVS into mandatory training and accreditation programs.
Develops sector-specific manuals, incorporating KSA law and regulations.
To carry out valuation work in KSA, a valuer must be accredited by Taqeem. This includes a robust training programme, assessments and adherence to a strict Code of Ethics.
Violations of the Accredited Valuers Law can lead to severe penalties, including fines, suspensions and imprisonment.
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Stay tuned for our next blog post to help build a better you.
N.b. Nothing in this article constitutes legal, professional or financial advice.