Justice: Regulating the profession of expert appraisers and developing real estate valuation activities

Deputy Minister of Justice Awatf Al-Sand announced the issuance of a decision by Minister of Justice and Advisor Nasser Al-Sumeit regarding the regulation of the profession of property 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 the principles of independence, impartiality, and transparency, while consolidating professional standards governing the profession and protecting the rights of litigants.

In a statement to KUNA, Al-Sand clarified that the decision establishes a comprehensive regulatory framework for the property valuation experts’ profession. It organizes the conditions for appointment, rights, duties, and professional obligations, as well as the controls for preparing reports, mechanisms for annual evaluation, grounds for terminating appointments, and disciplinary sanctions, thereby enhancing performance quality and elevating professional practice.

She added that the decision stipulates that a property 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 “C” or higher.

Al-Sand highlighted that the decision strengthens guarantees of integrity and independence. It requires experts to disclose any conflicts of interest and to recuse themselves from undertaking or continuing an assignment if a cause arises that affects their independence, impartiality, or ability to perform the task. Furthermore, it prohibits experts 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.

The decision also sets clear requirements for the content of experts’ reports, including property details, 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 bases, and increase reliability.

Al-Sand noted that the decision is the result of the work of a specialized committee formed to study the property valuation experts’ system and establish the conditions and controls governing it. The committee was chaired by Al-Sand and included Qais Al-Faraj, representing the Kuwaiti Association of Real Estate Appraisers; Ahmed Al-Haib, representing the Union of Real Estate Professionals; Emad Haider, representing the Kuwaiti Union of Real Estate Brokers; along with several specialists from the Ministry of Justice.

She stated that the decision was prepared in collaboration with representatives of specialized professional bodies in the real estate and valuation sectors, reflecting 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 property valuation experts, and elevating the quality of real estate valuation work to safeguard the rights of litigants.