Real estate evaluators' role underscored

Manama, Nov. 28 (BNA): Shaikh Mohammed bin Khalifa Al Khalifa, CEO of the Real Estate Regulatory Authority (RERA) addressed a workshop for leading figures in the sector to discuss measures which will be introduced within months to regulate the real estate evaluator profession in Bahrain. Themed ‘Foundations for a Sustainable Real Estate Sector’ the workshop provided evaluators with an opportunity to discuss and agree key issues for the sector. RERA will continue to drive forward with the objective of creating an efficient and transparent real estate sector which is attractive to local and international investors. We will achieve this by engaging with all stakeholders, listening to their issues and ultimately implementing regulations that will be to the benefit of all in the property ecosystem. Evaluators have a key role to play in achieving this objective and building a more sustainable real estate market’ said the RERA CEO. Shaikh Mohammed added that RERA will ensure that Bahrain adopts international best practice by implementing International Valuation Standards and collaborating with world renowned organisations such as the Royal Institute of Chartered Surveyors (RICS) in designing and implementing training and development programmes to further professionalise the sector. The cooperation and enthusiasm for reform evidenced at the meeting with leaders from the evaluator profession augurs well for the future of the real estate sector in Bahrain’ said the RERA CEO.