Regulatory Alerts2014-01-01
Board of Directors Decision No. 57 of 2014 on Minimum Requirements for Real Estate Valuation Reports and Preparation Methodology for Net Asset Value Calculation
The Capital Market Authority issued Decision No. 57 of 2014 to establish mandatory minimum requirements and preparation methodologies for real estate valuation reports used in calculating the net asset value of real estate funds. The regulation mandates that valuation experts adhere to a standardized scope of work, exercise prudent field verification, and produce clear, accurate reports containing specific disclosures, ownership details, property descriptions, and reconciled valuation methodologies. Furthermore, it requires the inclusion of an engagement letter, expert certification of independence, and supporting appendices, with the decision taking effect the day after its publication in the Egyptian Gazette.
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