by Kasun Illankoon
Dubai Land Department (DLD) organised the annual meeting of the International Valuation Standards Council (IVSC) which was held in Dubai over four days.
IVSC is an independent, non-profit organisation established in the USA and headquartered in London. The Council develops and promotes technical and ethical standards to conduct valuations on which investors and others depend on.
DLD was the meeting’s principal sponsor, recording an active participation through Emirates Real Estate Solutions (ERES), the technical arm of DLD. The meeting attracted more than 120 participants from 27 countries.
HE Sultan Butti bin Mejren, Director General of DLD, said: “We are proud to sponsor IVSC’s annual meeting where we saw an opportunity to highlight the tremendous developments we achieved in applying the highest standards in the various processes of real estate regulation, registration, and valuation. We are now on the threshold of a comprehensive, technological revolution in all real estate transactions. Over the past few years, we have been eager to fully align with the Dubai Blockchain Strategy launched by HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Board of Trustees of the Dubai Future Foundation (DFF) last October, and that is ushered by Smart Dubai.”
A panel discussion also took place concurrently with the annual meeting, Mohammed Al Dah, Senior Director of the Technical Affairs Department at DLD, praised IVSC’s efforts for the developing of evaluation criteria and for the mutual partnership it has enjoyed with DLD since 2010. He also stressed the qualitative leap that DLD has achieved in this field of evaluation to become a global hub for excellence.