KIB’s Third Real Estate Forum addresses property valuation and international standards

Kuwait International Bank (KIB) successfully concluded its Third Real Estate Forum, held under the theme “Property Valuation and International Standards.” The event took place on October 15, 2025, at the Four Seasons Hotel, Burj Alshaya, gathering real estate experts, investors, company representatives, and government officials from across the sector. The forum reflects KIB’s ongoing commitment to enhancing transparency and efficiency within the property valuation sector, recognizing its vital role as one of the key pillars of the national economy.

The forum opened with a welcoming speech delivered by Jassim Al-Abdulhadi, General Manager of the Real Estate Department at KIB. In his remarks, he emphasized the importance of this event in strengthening collaboration between the public and private sectors to advance property valuation practices in line with the highest international standards. He noted that the forum is part of KIB’s ongoing commitment to supporting innovation in the real estate sector, which plays a vital role in driving national economic growth and attracting foreign investment.

Following this, Emad Al Faraj, Vice Chairman of the Kuwait Real Estate Valuers Association delivered a speech in which he outlined the Association’s objectives as a non-profit public benefit organization. He highlighted its role in improving the professional environment for real estate appraisers in Kuwait, with a particular focus on implementing international standards across all valuation practices.

Al-Faraj stated: “We strive to enhance the efficiency of the appraisal profession by upholding the principles of transparency and integrity. These values strengthen confidence in Kuwait’s real estate market and safeguard investors’ interests.”

For his part, Eng. Fahad Adel Al-Saleh, Senior Manager of Real Estate Advisory and Digital Solutions at KIB’s Real Estate Department, delivered a presentation titled “Property Valuation and Digital Transformation: The KIB Experience.” During his presentation, he highlighted the Bank’s more than 50 years of combined practical and academic expertise in the real estate sector and showcased the latest digital advancements in the application KIB Aqari, which serves as a unified platform for all real estate needs.

In his turn, Regional Director of the International Valuation Standards Council (IVSC) for the Middle East and Africa Mostafa Elkaliouby delivered an introductory presentation about the Council. He explained that the IVSC is an independent, non-profit organization headquartered in London, dedicated to advancing the valuation profession by setting standards for the valuation of various types of real estate assets, infrastructure assets, assets under construction, business establishments, intangible assets, and financial instruments.

Elkaliouby emphasized that the Council’s goal is to enhance the quality of valuation practices while promoting transparency, trust, and credibility in real estate markets worldwide. He added: “Amid global economic shifts, international standards have become an essential tool for ensuring market stability, and we remain committed to supporting Kuwait in adopting and implementing them.”

The forum concluded with a panel discussion titled “Real Estate Valuation in Kuwait: Between Challenges and Opportunities.” The session addressed key challenges facing the sector, such as the lack of digital regulations and professional training, and explored ways to overcome them through strategic partnerships with governmental and international entities.

Participants agreed that Kuwait’s real estate valuation market holds great promise and enjoys strong support from the Ministry of Commerce and Industry, a factor that strengthens its role in supporting the national economy and advancing the goals of sustainable development and Kuwait Vision 2035.

The forum witnessed remarkable engagement from attendees, including a distinguished group of real estate investors, representatives from leading companies in the sector, and officials from the Ministry of Commerce and Industry as well as the Kuwait Investment Authority. This event marks the third edition in KIB’s Real Estate Forum series, which aims to foster innovation and collaboration within the sector. It also comes amid expectations of launching additional initiatives in the near future to further support digital transformation in Kuwait’s real estate market.

The forum comes at a time when Kuwait’s real estate sector is experiencing notable growth, with the market surpassing USD 10 billion last year, according to recent economic reports. This underscores the importance of adopting international standards to ensure the sector’s sustainability and enhance its investment appeal.