Valuation & InvestmentCertified Appraiser
Synonyms: Accredited Valuer، Licensed Valuer، Registered Valuer، Licensed Real Estate Appraiser
Last updated: 2026-09-25
Short Definition
An accredited (certified) valuer is a natural or legal person licensed by the Saudi Authority for Accredited Valuers (TAQEEM) to practise valuation in a specific sector such as real estate and entered in the valuers' register; only such a valuer may issue signed valuation reports that carry weight.
Overview
An accredited (certified) valuer is a natural or legal person licensed by the Saudi Authority for Accredited Valuers (TAQEEM) to practise valuation in a specific sector such as real estate and entered in the valuers' register; only such a valuer may issue signed valuation reports that carry weight.
The Accredited Valuers Law (Royal Decree M/43 of 9/7/1433H) defines an accredited valuer as a natural or legal person licensed to practise the profession. Registration requires (Article 5) Saudi nationality, full legal capacity, good conduct, practical experience in the relevant sector and key (active) membership of the Authority, which in turn requires a university degree in an approved discipline and the fellowship certificate (Article 24). Licences are sector-specific: real estate; businesses; and machinery, equipment and movable property. Professional firms must also be entered in the professional companies register at the Ministry of Commerce. TAQEEM is a non-profit body with legal personality supervised by the Ministry of Finance, and it is separate from the Real Estate General Authority (REGA), which regulates brokerage and real estate services.
The accredited valuer matters because many bodies accept only their reports: banks and finance companies must engage licensed valuers under a Saudi Central Bank circular; real estate investment funds require valuers who hold the TAQEEM fellowship, are independent of related parties and are rotated at least every five years; and listed companies choosing the fair value model for investment property must use two valuers holding the fellowship. The valuer must disclose any interest, keep information confidential, retain records for ten years and is liable to compensate damage caused by their errors.
⚖️ Legal Basis
Accredited Valuers Law (Royal Decree M/43 of 9/7/1433H) as amended by Royal Decrees M/109 of 22/8/1441H and M/190 of 22/11/1444H: Article 3 prohibits practising without a licence for the same sector; Article 5 sets registration conditions; Article 20 requires disclosure of interests; and Article 32 sets penalties including suspension for up to one year, a fine of up to SAR 200,000, licence revocation, removal from the register and imprisonment of up to one year. Article 36 of the CMA Real Estate Investment Funds Regulations adds the TAQEEM fellowship, independence and rotation at least every 5 years for fund valuers, and a Saudi Central Bank circular requires banks and finance companies to engage licensed valuers.
💡 Practical Example
A company managing a listed REIT wants to buy a shopping centre in Al Khobar offered at SAR 95,000,000. Under the Real Estate Investment Funds Regulations it appoints two accredited valuers who hold the TAQEEM fellowship and are independent of the seller. The first values it at SAR 92,000,000 using the income approach, the second at SAR 94,000,000. The manager negotiates SAR 93,000,000 (the average), checks that neither report is more than three months old at purchase, and obtains each valuer's declaration of compliance with the Accredited Valuers Law. Had one valuer owned a stake in the selling company, they would have had to disclose it under Article 20 and would not meet the independence condition in the regulations.
⚠️ Common Mistakes
- ✗Confusing REGA's Fal brokerage licence with a TAQEEM licence; a licensed broker cannot issue a valuation report unless also an accredited valuer.
- ✗Assuming a licence in one sector covers others; licences are sector-specific (real estate, businesses, machinery and equipment).
- ✗Not checking that the valuer's licence number is valid before engaging them.
- ✗Hiring a valuer with an undisclosed relationship or interest in the deal; this breaches Article 20 and weakens the report.
- ✗Assuming every TAQEEM member qualifies for every purpose; real estate funds and listed companies require valuers holding the fellowship.
🌍 International Differences
In the UK the RICS Registered Valuer designation is used, and in the US appraisers are licensed at state level. In Turkey the Capital Markets Board (SPK) grants real estate valuation expert licences. In the UAE valuers register with local land authorities such as the Dubai Land Department. Saudi Arabia stands out by requiring Saudi nationality for registration, by licensing each valuation sector separately and by having a single professional authority for the profession.
FAQs
How can I check that a valuer is accredited?▾
Ask for the licence number and verify it through the official channels of the Saudi Authority for Accredited Valuers (taqeem.gov.sa); under Article 12 the valuer's name, licence number and date must appear on every report.
Can a non-Saudi be a registered accredited valuer?▾
Article 5 of the Accredited Valuers Law requires Saudi nationality for entry in the register; the relationship between licensed valuers and non-Saudi valuers is governed by the law and the Professional Companies Law.
What is the difference between an accredited valuer and a real estate broker?▾
A broker holds a Fal licence from the Real Estate General Authority to broker deals and provide real estate services, whereas a valuer is licensed by TAQEEM to issue independent signed value reports; the regulators and laws differ.
Who supervises the valuers' authority?▾
The Saudi Authority for Accredited Valuers is a non-profit body with legal personality under the supervision of the Ministry of Finance, following the amendment by Royal Decree M/190 of 22/11/1444H.
What penalties apply to a valuer who breaks the rules?▾
They range from warning and reprimand to suspension for up to one year, a fine of up to SAR 200,000, licence revocation and removal from the register, with imprisonment of up to one year possible in cases heard by the court.
