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Cambodian real estate valuers examine solutions in Malaysia

Newly constructed buildings in Phnom Penh earlier this month.
Newly constructed buildings in Phnom Penh earlier this month. Heng Chivoan

Cambodian real estate valuers examine solutions in Malaysia

The Cambodian Valuers and Estate Agents Association (CVEA) would be in Malaysia for the 25th congress of the ASEAN Valuers Association (AVA) to exchange information in the sector, which is facing a downturn due to the regional and global economic slowdown.

CVEA CEO Sorn Seap, who was leading a delegation between Sept 18 and 20, told reporters at the Phnom Penh International Airport that the annual congress enables industry players to share experiences on real estate appraisal and strengthen skills.

“We are members of the AVA, which was established in 1981 with the common goal of raising the value of professional real estate appraisers and enhancing human resources through good knowledge and experience in the ASEAN region,” he said.

Seap said the purpose of their participation is to also learn from their peers. “So for countries which do not have enough experience, this is an opportunity to learn [the skills] to apply in their country,” he added.

CPL Real Estate CEO Cheng Kheng, who will also be in Malaysia for the event, said it was important for member states to raise issues and share solutions in times of crisis.

“I think for ASEAN we are proud to have AVA, where we can share our country’s real estate appraisal experiences, and aim to make our appraisals clear and professional in order to work together in this area.

“We can learn from members’ strengths and weaknesses in order to train our local human resources to ensure the sector works well and contributes to economic development.

“This is especially needed in the area of crisis solutions, where we can learn from every country. We can also find out how to set up mechanisms to deal with potential crises in the sector,” Cheng Kheng said.

Founded by Indonesia, Malaysia, Philippines, Singapore and Thailand, AVA expanded to include Brunei (1990), Vietnam (1997) and Cambodia (2009).

Laos and Myanmar are not members yet as they have no formal valuation professions in their countries. They now have observer status in AVA.


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