Justice: Ministerial Decision to Regulate the Profession of Expert Valuers and Develop Real Estate Valuation Services
Deputy Minister of Justice Awatef Al-Sand announced that Minister of Justice and Legal Advisor Nasser Al-Sameet issued a decision regarding the regulation of the profession of valuation experts within the General Administration of Experts. This move aims to develop real estate valuation activities, enhance the quality of technical reports, and reinforce principles of independence, neutrality, and transparency, while solidifying professional standards governing the profession and protecting the rights of litigants.
In a statement to the Kuwait News Agency (KUNA) on Thursday, Al-Sand clarified that the decision establishes a comprehensive regulatory framework for the valuation experts profession. It outlines conditions for appointment, rights, duties, professional obligations, guidelines for report preparation, mechanisms for annual evaluation, grounds for termination of appointment, and disciplinary penalties, all designed to enhance performance quality and elevate professional practice.
She added that the decision stipulates that a valuation expert must be a Kuwaiti national, at least 30 years old, possess at least five years of experience in real estate valuation, and hold a real estate appraiser license issued by the Ministry of Commerce and Industry with a classification of Grade C or higher.
Al-Sand noted that the decision strengthens guarantees of integrity and independence by requiring valuation experts to disclose any conflicts of interest and recuse themselves from undertaking or continuing an assignment if any factor arises that affects their independence, neutrality, or ability to perform the task. It also prohibits them from preparing any report or expressing an opinion on a property for which they had previously prepared a report, valuation, or opinion prior to their appointment.
She mentioned that the decision sets clear requirements for the content of valuation experts’ reports, including property data, approved documents and records, the methodology used in valuation, official photos and plans, and the final estimated value. These measures enhance report quality, standardize preparation criteria, and increase reliability.
Al-Sand explained that the decision is the result of the work of a specialized committee formed to study the valuation experts system and establish the conditions and regulations governing it. The committee was chaired by Al-Sand and included Qais Al-Faraj, representing the Kuwait Real Estate Appraisers Association; Ahmed Al-Haib, representing the Real Estate Owners Union; Emad Haydar, representing the Kuwait Real Estate Brokers Union; alongside several specialists from the Ministry of Justice.
Al-Sand stated that the decision was prepared in collaboration with representatives of specialized professional bodies in the real estate and valuation sectors. This reflects the Ministry’s approach of involving experts and specialists when drafting legislation and regulatory decisions, keeping pace with best professional practices, enhancing the efficiency of valuation experts, elevating the quality of real estate valuation work, and safeguarding the rights of litigants.
