The Saudi Authority for Accredited Valuers (Taqeem) has approved an updated policy for the General Rules of the Fellowship Certificate, as announced on August 6, 2026, in Riyadh. The decision reflects Taqeem’s ongoing commitment to enhancing regulatory and professional frameworks, improving the quality of outputs, and streamlining procedures to align with professional developments and best practices, while meeting the needs and aspirations of beneficiaries seeking the Fellowship Certificate.
Context and Background
The Saudi Authority for Accredited Valuers (Taqeem) is the official body responsible for regulating the valuation profession in the Kingdom of Saudi Arabia. Established to elevate professional standards, Taqeem oversees accreditation, training, and certification for valuers across various specializations. The Fellowship Certificate represents the highest level of professional recognition in the valuation field, signifying advanced expertise and adherence to rigorous standards. This policy update is part of Taqeem’s continuous efforts to develop regulatory frameworks, enhance the quality of professional outputs, and improve procedural efficiency in line with emerging professional trends and international best practices.
Key Details of the Updated Policy
The updated policy introduces several significant changes. It reorganizes the practical experience requirements, develops mechanisms for documenting and accrediting experience, and specifies particular requirements for discussions within each valuation branch. These updates aim to create a more flexible regulatory environment for applicants by refining rules and procedures governing the Fellowship Certificate. Importantly, the policy considers the circumstances of current members: those who obtained membership (Associate or Associate Student) before June 29, 2026, may choose to apply for the Fellowship Certificate under either the previous rules or the updated policy, allowing them to select the most suitable path. Those who obtain membership on or after June 29, 2026, will be subject to the updated policy. Full members are not affected by these changes.
Implications and Impact
This update is expected to enhance fairness, transparency, and consistency in the application process, while raising the efficiency of professional qualification. By providing clearer guidelines and accommodating existing members, Taqeem ensures a smooth transition and maintains high standards in the valuation profession. The revised policy also aligns with international best practices, which is crucial as Saudi Arabia’s valuation sector grows in importance amid the Kingdom’s economic diversification efforts. This development supports the broader goal of professionalizing the valuation industry, which plays a vital role in real estate, finance, and investment sectors.
Vision 2030 Alignment
The updated policy directly supports Saudi Vision 2030 by promoting professional excellence, transparency, and efficiency in the valuation sector. A robust valuation profession is essential for attracting investment, ensuring fair market practices, and facilitating major projects under Vision 2030, such as NEOM and the Red Sea Project. By continuously improving its regulatory frameworks, Taqeem contributes to the Kingdom’s economic transformation and its position as a global investment hub. This initiative reflects the broader Vision 2030 commitment to developing human capital and enhancing the business environment.
20 Questions
Q1. What is the Saudi Authority for Accredited Valuers (Taqeem)?
A1. Taqeem is the official Saudi government body responsible for regulating and developing the valuation profession in the Kingdom, ensuring high professional standards and accreditation for valuers.
Q2. What is the Fellowship Certificate?
A2. The Fellowship Certificate is the highest professional credential offered by Taqeem, recognizing advanced expertise and experience in the valuation field, and signifying adherence to rigorous professional standards.
Q3. What did Taqeem recently approve?
A3. Taqeem approved an updated policy for the General Rules of the Fellowship Certificate, aimed at enhancing regulatory frameworks, improving quality, and streamlining procedures for applicants.
Q4. When was the updated policy announced?
A4. The updated policy was announced on August 6, 2026, corresponding to 23 Safar 1448 AH, in Riyadh, as reported by the Saudi Press Agency.
Q5. What are the main changes in the updated policy?
A5. The update reorganizes practical experience requirements, develops mechanisms for documenting and accrediting experience, and specifies discussion requirements for each valuation branch, among other improvements.
Q6. How does the updated policy affect current members?
A6. Members who obtained Associate or Associate Student membership before June 29, 2026, can choose to apply under the old or new policy, providing flexibility to select the most suitable path.
Q7. What about new members joining after June 29, 2026?
A7. Those who obtain membership on or after June 29, 2026, will be subject to the updated policy, ensuring alignment with the latest professional standards and requirements.
Q8. Are full members affected by this update?
A8. No, full members are not affected by these updates, as the changes primarily target applicants and new members seeking the Fellowship Certificate.
Q9. Why did Taqeem update the policy?
A9. Taqeem updated the policy to enhance regulatory flexibility, improve fairness and transparency, unify application mechanisms, and raise the efficiency of professional qualification in line with best practices.
Q10. How does this update benefit applicants?
A10. It provides a more flexible regulatory environment, clear guidelines, and options for existing members, making the process fairer and more efficient for all applicants.
Q11. What role does the valuation profession play in Saudi Arabia?
A11. The valuation profession is crucial for real estate, finance, and investment sectors, ensuring fair market practices and supporting economic growth and major projects under Vision 2030.
Q12. How does this update align with Saudi Vision 2030?
A12. It supports Vision 2030 by promoting professional excellence, transparency, and efficiency, which are essential for attracting investment and facilitating mega-projects like NEOM and the Red Sea Project.
Q13. What is the significance of the June 29, 2026, date?
A13. It marks the cutoff for existing members to choose between the old and new policies, ensuring a smooth transition while maintaining high professional standards.
Q14. Where can one find the updated policy?
A14. The updated policy is available through Taqeem’s official channels, and the authority encourages all interested parties to review it and familiarize themselves with the changes.
Q15. How does Taqeem ensure transparency in the application process?
A15. By clearly defining requirements, providing options for existing members, and standardizing procedures across all valuation branches, Taqeem enhances transparency and fairness.
Q16. What are the practical experience requirements?
A16. The updated policy reorganizes practical experience requirements, specifying the duration and nature of experience needed for each valuation branch to qualify for the Fellowship Certificate.
Q17. How does Taqeem document and accredit experience?
A17. Taqeem has developed improved mechanisms for documenting and accrediting practical experience, ensuring that applicants’ experience is verified and meets the required standards.
Q18. What are the discussion requirements per valuation branch?
A18. Each valuation branch has specific discussion requirements that applicants must fulfill, ensuring they demonstrate comprehensive knowledge and expertise in their specialization.
Q19. How does this update impact the valuation industry in Saudi Arabia?
A19. It professionalizes the industry, raises standards, and aligns with international best practices, which is vital for the growing valuation sector in the Kingdom’s diversifying economy.
Q20. What is Taqeem’s broader goal with such updates?
A20. Taqeem aims to continuously develop regulatory frameworks, enhance professional qualification, and support Saudi Arabia’s economic transformation and Vision 2030 objectives.
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