Course to bring real estate professionals up to speed

Course to bring real estate professionals up to speed

Training and certification program fills the educational gap for the Kingdom's appraisers and other property practitioners

REAL estate companies are being urged to send staff to short-course training programs in real estate investment and appraisal to strengthen their professional skills and with the aim to qualify for membership in the Asean Valuation Association, a Ministry of Economy and Finance official has told Prime Location.

An Investment Strategy and Property Valuation Method workshop is scheduled for November 3-4 for a fee of US$70, according to Mao Pov, deputy chief of the real estate division of the Ministry of Economy and Finance.

The course will be led by trainers from Singapore, Malaysia and Thailand, as well as the host ministry, the Ministry of Land Management, Urban Planning and Construction, and taxation department officials, he said, with participants receiving a certificate of completion.

"We are holding the short course to train our Cambodian realtors and law firms about real estate investment strategy and appraisal methods because we do not have a real estate school," said Mao Pov.

The fee for the course would be waived for a limited number of government employees and students who register for the course, he added.

The overall purpose of the course, Mao Pov noted, was to achieve qualification for membership in the Asean Valuation Association (AVA), as well as comply with continuing professional education requirements established for the real estate sector.

Even though the course is too short ... it will bring more knowledge to our local real estate brokers.

"For the people who earn a living im the sector who don't have a bachelor's degree, we have to determine that they have joined in ministry workshops or training courses concerning to real estate or have other equivalent certification so we can issue a recognised certificate for them," Mao Pov  said.

Announcement No 142 of February 13, 2007, has required all real estate brokers and companies to apply for realty service certificates and real estate appraisal certificates from the ministry, valid for a one-year term.  Applicants need to be 21 years of age or older and hold a bachelor's degree in a business field.

To comply, he said, most licensed real estate companies have cooperated with foreign experts in the field.

Sung Bonna, president of Bonna Realty Group and of the National Real Estate Valuation Association of Cambodia, said he was happy about the short course because it filled a need until the Kingdom could establish a real estate school.

"Even though the course is new and it is too short, it will bring more knowledge and experience to our local real estate brokers and companies," Sung Bonna said.

Chan Sophal, president of Cambodian Economic Association, called it a good course  for a country that falls behind neighbours like Thailand and Vietnam in developing its real estate sector.

MOST VIEWED

  • Diplomatic passports issued to foreigners to be annulled

    The Ministry of Foreign Affairs and International Cooperation will move to annul diplomatic passports issued to those not born in Cambodia. Analysts say the move may be in relation to reports that former Thai prime minister Yingluck Shinawatra used a Cambodian passport to register as

  • The hairy little heroes saving many lives in rural Cambodia

    IN RURAL Siem Reap province, rats dare to tread where no person will, as these hairy little heroes place their lives on the line each day for the good of the local community. The rodents are the most important members of a special team, leading

  • Hun Sen warns Irish MP of EBA ‘mistake’

    Prime Minister Hun Sen on Saturday told former Irish premier Enda Kenny, still a member of the EU nation’s parliament, that the 28-nation bloc should not make a “third mistake” regarding Cambodia by using the preferential Everything But Arms (EBA) agreement to “take 16 million

  • Hun Sen’s China visit ‘a good opportunity’

    Prime Minister Hun Sen’s visit to Beijing on Sunday to discuss economic and trade issues presents a good opportunity for the Kingdom to strengthen Chinese ties and counter punitive measures by the West, an analyst says. The prime minister’s four-day official visit to