24 Violators of the Saudi Commission for Accredited Evaluators were Detected within one week in ten Cities in the Kingdom, as announced by MCI

14 May 2017
​Imprisonment & a Fine of SR 200.000 were imposed on Companies & Real Estate Offices
During the past week, MCI inspection teams detected 24 real estate establishments violating the Accredited Evaluators System in 10 cities throughout the Kingdom. This campaign to be continued to ensure the implementation of Ministerial Decree No. 531 dated 3.6.1435 AH, stipulating that everyone would practice the profession of real estate evaluation must obtain a membership of the Saudi Commission for Accredited Evaluators.
The detected irregularities, relevant to the Saudi Commission for Accredited Evaluators, issued by the Royal Decree No. M / 43 dated 9.07.1433 H, including the practice of real estate evaluation without obtaining a license, or practicing such profession after the expiry or writing off the license, or submitting fake information, or using any means of advertisement illegally.
The said regulations impose penalties on the offenders of the Saudi Accredited Evaluators System, starting by giving a warning and up to imprisonment for a period not exceeding a year, provided that the penalty should match the violation, the law also provides for giving a blame or the suspension of practicing the profession for a period not exceeding one year, or a fine of SR 200.000, or cancelling the license and writing off the registration at the Saudi Commission for Accredited Evaluators.
It is worth mentioning that the Saudi Commission for Accredited Evaluators held 145 specialized training courses on Real Estate Evaluation, attended by 4840 trainees from 17 different cities in the Kingdom. Temporary membership for 1095 persons was also given prior to the enforcement of the regulation before 01.12.2017, which stipulates passing the tests of seven training courses, relevant to real estate evaluation, as well as putting in 2000 hours of experience in the Commission’s   e-portal (value).
Last Modified 26 Dec 2018