The division was nominated by Kuwait central Bank to appraise debts settlement real estates in 1986 and has been recently named to undertake real estate appraisal for the companies governed by the Financial Stability Law ‘Law N. 2 of 2009’.
Moreover, it has been certified as one of the entities authorized to evaluate the projects of partnership Technical Bureau affiliated to the Ministry of Finance, in accordance with Law No. 7 of 2008.
READ has recently received the approval of the Ministry of Trade and Commerce as a certified appraiser attributable to the accumulated experience of the Division’s technical team, in addition to the credibility and confidentiality of dealing with customers.
In this context, Head of the Real Estate Division in KIB, Eng. George Aghajanian commented, “KIB’s Real Estate Appraisal Division applies both world renown and technical approaches to its appraisal methods, and due to its high professional performance over the past years, the division has gained the government and market trust, as CBK has recently assigned KIB as one of the authorized parties to appraise real estate to local banks in Kuwait.”
Mr. Aghajanian added, “READ has many roles and responsibilities that include appraisal of different types of properties for individuals and corporations in Kuwait. In addition, the division’s roles extend to studying projects’ construction costs , their feasibility, and the following-up implementation of the project’s milestones and reporting the same to the concerned departments and divisions in the bank or to investors.”
It is worth mentioning that the Real Estate Appraisal Division team is compromised of engineers and assistant engineers specialized in the real estate appraisal field who have received high-level training and specialized local and abroad courses to be the best in the field in the State of Kuwait.
The team has also gained scientific and market experience acquired throughout the years of their service in the division.
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