THE Association of Southeast Asian Nation Valuers’ Association will hold a conference on real estate appraisals in Cambodia next year, the first time the event has come to the Kingdom.
“Our country has little experience in valuing real estate, but Singapore and Malaysia will send experts to the conference next year to train us to an international standard in property valuation,” said Sung Bonna, president of the National Valuers’ Association of Cambodia, yesterday.
The ASEAN Valuers’ Association allows regional real estate valuers to share opinions and exchange experience in a bid to keep up with the latest developments in the field.
Cambodia obtained membership last year, Sung Bonna said.
Membership in the association promotes transparent practices in appraisals, which helps to keep keep the market stable, he said. It also allowed real estate agents to gain experience managing property transactions.
“We are happy to hold the event for AVA,” he said.
“It is very important for our country to reach an international standard in property valuation.”
The decision to hold a meeting in Phnom Penh was made at its 16th annual congress, which was held in Bangkok last week.
The regional association was established in 1981 with five founding members: Singapore, Malaysia, Thailand, Indonesia and the Philippines.
Brunei joined in 1990, Vietnam in 1997 and Cambodia in 2009, according to the organisation’s website.