Kuwait Finance House (KFH) has signed an agreement with Gulf University for Science and Technology (GUST) to launch the the First-of-its-kind Certified Real Estate Appraiser program. This professional certificate features the latest technical and professional methods in the field and is accredited locally and internationally by the competent authorities.

On this occasion, KFH Group Human Resources Officer, Zeyad AlOmar expressed his pleasure at launching the Certified Real Estate Appraiser program, the first of its kind in Kuwait.

AlOmar stressed the importance of the program as a comprehensive study major by itself that constitutes a significant pillar under universities curricula, pointing out that the program is prepared by KFH’s professional real estate appraisers, as well by experts and professors from GUST.

He explained that the program consists of six modules including real estate appraisal requirements, trainees’ skills enhancement, development of the real estate market and related activities, as well as other factors and updates such as the multiple types of properties, jurisdictions of competent authorities, real estate transactions follow-up and the diversity of related legislations and decisions.

AlOmar also revealed that KFH is granting five seats for free under KFH scholarships program in order to attract the interest of students to this field of study.

He commended the efforts of KFH’s real estate appraisers and GUST professors for designing and preparing the program.

KFH Group Chief Operations Officer – Abdulla Abu Alhous

KFH Group Chief Operations Officer, Abdulla Abu Alhous said that the program is the result of the integrated efforts by KFH’s Human Resources and Real Estate Valuation departments in collaboration with GUST, adding that the program has been launched in accordance with the directions of KFH’s BoD and is part of its social and national responsibility. The program also contributes to business governance and performance improvement in line with the considerations and standards followed in this profession and approved by regulators.

As part of its pioneering role in developing the real estate market, Abu Alhous noted that KFH seeks to strengthen its efforts by launching programs and utilizing KFH’s expertise as well as the academic capabilities of GUST, which will enhance the real estate appraisers and stakeholders such as bank employees and customers.

He added that the program is a cornerstone for the beginning of a long and insightful journey in cooperation with government bodies such as the Ministry of Commerce and the Central Bank of Kuwait to ensure the implementation of the program in an optimal manner, pointing out that the real estate appraisal processes that are issued professionally contribute generally to the flow of real estate financing operations in Kuwait.

KFH Executive Manager Real Estate Valuation – Ahmed Alfarhan

KFH Executive Manager, Ahmed Alfarhan, said that the partnership with GUST to launch the Program adds great value to it by combining KFH's professional experience with GUST’s academic knowledge.

He pointed out that this program will be part of a series of specialized courses in the real estate field, indicating that the real estate market requires this type of programs due to their scarcity on the one hand, and the great demand for real estate appraisal services by government bodies, banks, private sector institutions and individuals on the other.

Al-Farhan stressed KFH’s interest in developing the mechanisms for real estate appraisal in view of its important role in maintaining the rights and assets of institutions, companies, banks and interested customers, in addition to averting any risks related to real estate financing by ensuring the governance of work in the real estate offices under unified and transparent methods and standards that avoid conflicts of interest in order to achieve growth and stability for real estate holdings that are vital to customers’ transactions and national economy.

GUST Chairperson of the Executive Education, Dr. Osama Alfalah

Chairperson of the Executive Education at GUST, Dr. Osama Alfalah said “we are pleased to launch the Certified Real Estate Appraisal with KFH. We believe this type of program is vital due to its qualitative and unique nature, not to mention its being a necessity for the labor market.”

Alfalah commended the strategic partnership with KFH, adding that it is based on a long-term cooperation. He explained that the Certified Real Estate Appraisal Program contributes to consolidating the relationship between the two parties, stressing that KFH is a leader in the real estate field.