Executive Council Resolution No. (37) of 2015
Regulating the Real Property
Valuation Profession in the Emirate of Dubai
We, Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman
of the Executive Council,
After perusal of:
Law No. (9) of 2004 Concerning the Dubai International Financial Centre and its
amendments;
Law No. (7) of 2006 Concerning Real Property Registration in the Emirate of Dubai;
Law No. (16) of 2007 Establishing the Real Estate Regulatory Agency;
Law No. (14) of 2009 Concerning the Pricing of Government Services in the Emirate of
Dubai and its amendments;
Law No. (35) of 2009 Concerning Management of the Public Funds of the Government of
Dubai and its amendments;
Law No. (7) of 2013 Concerning the Land Department;
Decree No. (22) of 2009 Concerning Special Development Zones in the Emirate of Dubai;
Executive Council Resolution No. (25) of 2009 Approving the Fees and Fines of the Real
Estate Regulatory Agency;
Executive Council Resolution No. (30) of 2013 Approving the Fees of the Land Department;
and
The legislation establishing and regulating free zones in the Emirate of Dubai,
Do hereby issue this Resolution.

Definitions

Article (1)
The following words and expressions, wherever mentioned in this Resolution, shall have
the meaning indicated opposite each of them unless the context implies otherwise:
UAE : The United Arab Emirates.
Emirate : The Emirate of Dubai.
DLD : The Land Department.
RERA : The Real Estate Regulatory Agency.
Director General : The director general of the DLD.
Real Property Valuation : Estimation of the market value of specific Real Property on a
specific date and for a specific purpose, based on its location,
characteristics, specifications, and other factors that may affect its value.
Profession : The Real Property Valuation profession.
Firm : A company or sole proprietorship authorised to practise the Profession
in the Emirate.
Valuer : A natural person registered on the Roll to practise the Profession in the
Emirate through a Firm or through a licensed bank or financial
institution.
Trainee Valuer : A natural person registered on the Roll and authorised to receive
training to practise the Profession.
Authorisation : A document issued by RERA that authorises a Firm to practise the
Profession in the Emirate upon fulfilment by that Firm of the conditions
and requirements stipulated herein.
Roll : A paper or electronic record maintained by RERA on which Valuers
and Trainee Valuers, who meet the conditions and requirements
stipulated herein, are registered.
Real Property Valuation Book: The book issued by the DLD that contains the standards of
Real Property Valuation.

Scope of Application

Article (2)
The provisions of this Resolution shall apply to any person who practises the Profession
in the Emirate, including Special Development Zones and free zones such as the Dubai
International Financial Centre. This Resolution shall not apply to Government entities and
the practitioners of the Profession employed by these entities.

Functions of RERA

Article (3)
For the purposes of this Resolution, RERA shall have the duties and powers to:
1. determine applications for registration, renewal of registration, and reinstatement of
Valuers; for registration of Trainee Valuers on the Roll; and for variation of their details
in the Roll, in accordance with the relevant adopted conditions and requirements;
2. determine applications for Authorisations and renewal of Authorisations of companies
and sole proprietorships wishing to practise the Profession;
3. consider and investigate complaints filed against persons practising the Profession
and Trainee Valuers, and take the necessary action in respect thereof;
4. issue identification cards to Valuers;
5. conduct studies on the practice of the Profession in the Emirate with a view to
developing it;
6. supervise, audit, and inspect the activities of persons practising the Profession to
ensure their compliance with this Resolution and with the terms of their registration
or Authorisation;
7. supervise the training and qualification of Valuers and Trainee Valuers;
8. establish principles, ethics, and traditions of the Profession;
9. prepare the forms required for the implementation of the provisions of this Resolution;
10. create the Roll and determine its form and the data and information that must be
entered therein; and
11. perform any other duties required for the regulation of the Profession in the Emirate.

Practising the Profession

Article (4)
a. No natural person may practise the Profession in the Emirate without being registered
on the Roll.
b. No private legal person may practise the Profession in the Emirate without being so
authorised by RERA.
c. No Firm, bank, or financial institution in the Emirate may employ or hire any person as
a valuer unless he is registered on the Roll.
d. A Valuer working for a bank or a financial institution is prohibited from providing Real
Property Valuation services to any party other than the bank or financial institution for
which he works.

Registration Requirements

Article (5)
To be registered on the Roll as a Valuer, an applicant must:
1. be a UAE national;
2. be of full capacity;
3. be of good conduct and repute and not have been sentenced for a felony or other crime
affecting honour or trustworthiness, unless he has been rehabilitated or pardoned by
the competent authorities;
4. be a holder of the academic qualifications and training certificates determined
pursuant to the relevant resolution of the Director General;
5. have work experience of no less than two (2) years in the field of Real Property
Valuation, or have completed the training period prescribed under this Resolution;
6. pay the fees prescribed under this Resolution; and
7. meet any other requirements determined by the relevant resolutions issued by the
DLD.

Exemption from Registration Requirements

Article (6)
a. Natural persons practising the Profession in the Emirate prior to the effective date
of this Resolution shall be exempted from compliance with the provisions of sub-
paragraphs (4) and (5) of Article (5) of this Resolution.
b. Notwithstanding the provisions of sub-paragraph (1) of Article (5) of this Resolution,
RERA may register on the Roll a non-UAE national as a Valuer, provided that he has, in
addition to meeting other registration requirements, work experience of no less than
five (5) consecutive years in the field of Real Property Valuation.

Registration Procedures

Article (7)
Registration on the Roll shall be in accordance with the following procedures:
1. an application for registration on the Roll shall be submitted to RERA on the form
prescribed for this purpose, supported by the documents required by RERA;
2. RERA shall consider the application and verify that the applicant meets all the
requirements stipulated in this Resolution and the resolutions issued in pursuance
hereof;
3. RERA shall determine the application in accordance with the conditions and
requirements stipulated herein. RERA must notify the applicant of its relevant decision
within ten (10) working days from the date of submitting the application that meets
all conditions and requirements, and this decision must be reasoned where the
application is rejected; and
4. RERA shall issue identification cards to persons registered on the Roll. The form of
these cards and the information that must be included therein shall be determined by
a resolution of the Chief Executive Officer of RERA.

Validity of Registration

Article (8)
Registration of Valuers shall be valid for a period of one (1) year, renewable for the same
period. A renewal application must be submitted within thirty (30) days prior to the date
of expiry of the registration.

Trainee Valuer

Article (9)
a. An application for registration as a Trainee Valuer shall be submitted to RERA on the
form prescribed for this purpose, supported by all required documents, including a
training undertaking issued by a Firm confirming its approval to train the applicant.
b. The Firm that provides training to practise the Profession must have a Valuer who has
work experience of no less than five (5) years in the Emirate.
c. Firms shall be liable towards third parties for the acts of their Trainee Valuers
throughout their training period.
d. RERA may require a Firm to simultaneously train a maximum of three (3) Trainee
Valuers. This Firm must provide RERA with a biannual report on the punctuality and
commitment of Trainee Valuers, and their compliance with the training requirements;
and must provide RERA with a detailed report on each Trainee Valuer at the end of the
training period.

Training Period

Article (10)
The training period of a Trainee Valuer is one (1) year commencing from the date of his
registration on the Roll. The training Firm must notify RERA where the Trainee Valuer is
absent for more than thirty (30) consecutive days or forty (40) non-consecutive days during
the training year in order for RERA to verify the reasons of absence. Where the absence is
proved to be for no valid reason, RERA shall strike the Training Valuer off the Roll.

Authorisation Issuing Requirements

Article (11)
A person applying for an Authorisation must:
1. be a UAE national;
2. be a Valuer, or employ a Valuer to manage the company or sole proprietorship to be
granted the Authorisation;
3. pay the fees prescribed under this Resolution; and
4. meet any other requirements determined by the relevant resolutions issued by the
DLD.
Validity of Authorisation
Article (12)
An Authorisation shall be valid for a period of one (1) year, renewable for the same period.
A renewal application must be submitted within thirty (30) days prior to the date of expiry
of the Authorisation validity.
Authorisation Issuing Procedures
Article (13)
An Authorisation shall be issued in accordance with the following procedures:
1. an applicant wishing to practise the Profession shall submit an application for a
commercial licence to the competent commercial licensing authority in the Emirate, in
accordance with the relevant legislation and procedures adopted by it;
2. the commercial licensing authority shall refer the application to RERA for technical
consideration and for verification that it meets the conditions and requirements
adopted for issuing the Authorisation;
3. RERA shall determine an application that meets all conditions and requirements within
ten (10) working days from the date of referral of the application, and its decision must
be reasoned where the application is rejected;
4. following the issuance of an Authorisation, the competent commercial licensing
authority shall complete the procedures for issuing the trade licence; and
5. following the issuance of an Authorisation, RERA shall enter all the basic details of
the Firm, including its address, owner, and manager, as well as the Valuers employed
therein, on the database maintained by RERA for this purpose.

Opening Branches of Firms

Article (14)
Upon the request of a Firm, RERA may approve the opening of branches for the Firm
within the Emirate. The request for opening a branch shall be determined subject to the
requirements prescribed by the relevant resolution of the Director General.

Contents of Real Property Valuation Reports

Article (15)
A Valuer must prepare a report on all Real Property Valuations he performs, and this report
must contain:
1. the name of the entity requesting the Real Property Valuation;
2. the purpose of the Real Property Valuation;
3. description of the Real Property subject of the Real Property Valuation, supported by a
plan of the land plot on which it is constructed;
4. the basis for valuation, namely the market value of the Real Property calculated in
accordance with the standards stipulated in the Real Property Valuation Book;
5. the date of the Real Property Valuation;
6. the relationship between the Valuer and the entity requesting the Real Property
Valuation;
7. the assumptions, if any, that the Valuer relied on or adopted for completing his work
in accordance with the standards stipulated in the Real Property Valuation Book;
8. a reference that the report was prepared in accordance with the Real Property Valuation
Book;
9. the value of the Real Property subject of the Real Property Valuation in figures and in
words;
10. the name and signature of the Valuer and the number of his registration on the Roll;
11. the plans and documents based on which the Real Property Valuation report is prepared,
such as the site plan issued by competent entities in the Emirate, Real Property photos,
completion certificate, and lease contracts; and
12. any other information determined pursuant to the relevant resolutions issued by the
DLD.

Obligations of Persons Practising the Profession

Article (16)
A person practising the Profession in the Emirate must:
1. comply with the principles of honesty and integrity, and the code of ethics of the
Profession approved by RERA for this purpose;
2. observe accuracy and the principles and traditions of the Profession while performing
his duties;
3. maintain the confidentiality of the data or information to which he may have access in
the course of conducting Real Property Valuation;
4. comply with the requirement that a Valuer must include his name and number of
registration on the Roll in all correspondence, certificates, and reports he issues;
5. prepare work reports for all Real Property Valuation assignment performed and send a
summary of these reports to RERA through the relevant means approved by RERA;
6. observe the ethics of the Profession in dealing with colleagues, and refrain from
unfairly competing with them or criticising their work in public;
7. keep paper or electronic record of every Real Property Valuation assignment performed,
in which copies of the written reports, correspondence, and memoranda related to this
assignment are included;
8. maintain the records, reports, and files of all valuated Real Property for at least five (5)
years after completion of the valuation assignment or from the date of delivery of the
final report. The Director General shall determine the types of these records and the
information that must be entered therein;
9. comply with the form and other basic requirements of the Real Property Valuation
report; include the mandatory information of the Real Property and the rights attached
to it in that report; and deliver the same to the party requesting the Real Property
Valuation;
10. comply with the Real Property Valuation standards and methods stipulated in the Real
Property Valuation Book;
11. not engage any person who is not registered on the Roll to perform Real Property
Valuations;
12. comply with the requirement that no Firm owner may own more than one Firm in the
Emirate;
13. comply with the requirement that a Valuer must practise the Profession through a
Firm, a bank, or a financial institution;
14. comply with the requirement that no Valuer may work for more than one Firm in the
Emirate; and
15. meet any other obligations determined pursuant to the relevant resolutions issued by
the DLD.
Real Property Valuation Agreement
Article (17)
a. A Firm must conclude a Real Property Valuation agreement with the entity requesting
the Real Property Valuation. This agreement must provide for the rights and obligations
of the parties and must, in particular, state:
1. the Real Property to be valuated;
2. the purpose of the Real Property Valuation;
3. the period of completion of the Real Property Valuation; and
4. the financial consideration for performing the Real Property Valuation.
b. If a dispute arises between a Firm and an entity that requests Real Property Valuation
in relation to the Real Property Valuation agreement, RERA shall have the authority
to consider this dispute through a committee to be formed pursuant to a resolution
issued by the Director General in this respect.

Entering Real Property

Article (18)
In the event that the work of a Valuer requires him to enter the Real Property subject of
the Real Property Valuation, the Valuer must notify the occupant of the Real Property
or his agent in advance, and must agree with him on an appropriate time to enter and
inspect the Real Property. The Valuer must also determine the data and information that
must be provided to him in order to complete the Real Property Valuation.

Obtaining Licences

Article (19)
An Authorisation issued to a Firm pursuant to this Resolution does not exempt that Firm
from obtaining any other licences required by the concerned Government entities in the
Emirate.

Fees

Article (20)
In return for issuing Authorisations, registration on the Roll, and other services rendered
by RERA pursuant to this Resolution, RERA shall collect the fees set forth in Schedule (1)
attached hereto.

Violations and Administrative Penalties

Article (21)
a. Without prejudice to any stricter penalty stipulated in any other resolution, a person
who commits any of the acts stipulated in Schedule (2) attached hereto shall be
punished by the fine indicated opposite that act.
b. Upon repetition of the same violation within one (1) year from the date of the previous
violation, the amount of the fine referred to in paragraph (a) of this Article shall be
doubled. A fine must not exceed two hundred thousand Dirhams (AED 200,000.00).
c. In addition to the penalty of a fine referred to in paragraph (a) of this Article, RERA may
take one or more of the following measures against a violator:
1. suspend the violator from practising the Profession for a period not exceeding six
(6) months;
2. require the violator to attend training or qualification courses for the periods and
subject to the conditions determined by RERA in this regard;
3. strike the violator off the Roll; and/ or
4. revoke the violator’s Authorisation.

Law Enforcement

Article (22)
RERA employees nominated pursuant to a resolution of the Director General shall
have the capacity of law enforcement officers to record the acts committed in breach
of the provisions of this Resolution and the resolutions issued in pursuance hereof. In
this capacity, they may issue the necessary violation reports, and, where necessary, seek
assistance from police personnel.

Grievance

Article (23)
Any affected party may submit a written grievance to the Director General against any
decision or measure taken against him under this Resolution within thirty (30) days from
the date of being notified of the contested decision or measure. The grievance shall be
determined, within thirty (30) days from the date of its submission, by a committee
formed by the Director General for this purpose, and the decision issued in respect of the
grievance shall be final.

Reinstatement on the Roll

Article (24)
The Director General may reinstate any person who is struck off the Roll, provided that
this person meets the requirements for registration on the Roll and that two (2) years from

Payment of Fees and Fines

Article (25)
Fees and fines collected pursuant to this Resolution shall be paid to the Public Treasury of
the Government of Dubai.
Compliance

Article (26)
Any person who practises the Profession in the Emirate, including those employed by sole
proprietorships, companies, and financial and banking institutions, by the effective date
of this Resolution must comply with its provisions within one (1) year from that effective
date. The Director General may extend this grace period once for the same period.

Repeals

Article (27)
Any provision in any other resolution shall be repealed to the extent that it contradicts the
provisions of this Resolution.

Issuing Implementing Resolutions

Article (28)
The Director General shall issue the resolutions required for the implementation of the
provisions of this Resolution.

Publication and Commencement

Article (29)
This Resolution shall be published in the Official Gazette and shall come into force on the
day on which it is published.

Hamdan bin Mohammed bin Rashid Al Maktoum
Crown Prince of Dubai
Chairman of the Executive Council
Issued in Dubai on 17 August 2015
Corresponding to 2 Thu al-Qidah 1436 A.H.