Ministry of Justice Winds Up Specialized Course on Real Estate Valuation

Doha, May 18 (QNA) - The Ministry of Justice (MoJ) has wrapped up a course on real estate valuation and appraisal.

The first-of-its-kind for real estate stakeholders and clients, the two-week specialized training - organized by MoJ's Center for Legal and Judicial Studies - featured theoretical presentations and practical training on professional methods and tools.

The participants have been provided with the needed knowledge and skills in accordance with best practices and applicable international valuation standards such as RICS and IVS.

Assistant Undersecretary for Real Estate Registration Department Amer Saeed Al Ghafri gave the participants certificates of completion. He said the training aligns with the MoJ's new vision of the real estate registration and documentation sector's engagement with the public.

Meanwhile, Director of the Center for Legal and Judicial Studies Dr. Abdullah Hamad Al Khalidi said the advanced course was designed to keep pace with the Center's efforts to prepare and qualify legal personnel capable of serving the public efficiently and competently.

The event gave a holistic understanding of the fundamentals, methods and applicable legal and regulatory procedures for property valuation, making it ideal for all real estate market enthusiasts. The five common methods include comparison, cost, income, discounted cash flow.

The course also offered a detailed property inspection report, which includes all relevant valuation documents, such as lease contracts, engineering drawings, a site map, other contracts, and photographs of the property.

It also covered the factors affecting real estate valuation and the importance of market analysis, as well as local and international standards and legislation related to real estate valuation. (QNA)