CMA Requires "Taqeem" Membership for the Evaluators of the Real Estates and Assets of the Real Estate Investment Funds

​The Capital Market Authority Board has announced a resolution stating that the evaluators mentioned in the Real Estates Investment Funds Regulations and the necessary requirements to offering units of the Real Estate Investment Fund as a private placement, issued by the CMA Board resolution on July 2015, should be key members of The Saudi Authority for Accredited Valuers "Taqeem".

Starting from 11/1/2016, as per the resolution, evaluation reports on the Real Estate investment Funds proposed to CMA to offer an investment fund or evaluate a fund's assets will not be accepted unless they are conducted by evaluators who are members of the Saudi Authority for Accredited Valuers "Taqeem".

This step is part of the continuous efforts by the Capital Market Authority to  develop the Capital Market especially in collective investment programs and investment funds. That is by applying the best international standards  and practices as well as increasing the transparency, disclosure, and providing a safe and attractive investment environment.

It is important to mention that the Real Estate Investment Funds Regulations defines the evaluator as a person chosen by the Fund Manager to evaluate the fund's assets. The Regulations is available on the official CMA website and includes 27 Articles.