Yes, the Real Property Valuation Profession is strictly regulated to ensure market accuracy. If a natural person is caught practicing valuation without being registered on the Roll, they face a fine of AED 20,000. For a private legal person (a firm)…
Yes, the Real Property Valuation Profession is strictly regulated to ensure market accuracy. If a natural person is caught practicing valuation without being registered on the Roll, they face a fine of AED 20,000. For a private legal person (a firm) practicing without a valid Authorisation, the fine increases to AED 30,000. These penalties, along with potential suspension or blacklisting, ensure that only vetted and authorised experts are providing financial estimations for property in the Emirate.
This is general information from the website library. Confirm current rules, fees and property details with the relevant authority before acting.
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