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HONG KONG, June 3, 2015 /PRNewswire/ -- RICS (Royal Institution of Chartered Surveyors) recommends five experts in Hong Kong land matters to the Government as arbitrators for the Pilot Scheme for Arbitration on Land Premium ("the Pilot Scheme"). All of them are seasoned field experts and are under stringent regulation by RICS' valuer registration.
Last year the government introduced the Pilot Scheme to facilitate land premium settlement between land owners and the Government in order to expedite land supply. Qualified arbitrators require at least 10 years of experience in land matters and professional valuation, and be a Registered Professional Surveyor.
The five RICS recommended experts in land matters for arbitration are chartered surveyors who have 24 years or more of experience in land matters, and have been registered as RICS Registered Valuers. The RICS Valuer Registration is a mandatory regulatory measure to chartered surveyors who practise valuation using RICS' global valuation standards. It ensures RICS members will provide independent and impartial professional advice thereby providing confidence to the government, the industry, and the arbitration process as a whole.
RICS recommends the following experts on land matters (In alphabetical order by surname):
Mr Alnwick Chan FRICS
Alnwick is a Fellow of RICS, a RICS Registered Valuer, and a RICS Hong Kong Registered Expert on Land Matters. Over the past 30 years, he has been involved primarily in land administration and development consultancy. In addition to his extensive experience in land exchanges, lease modifications and premium assessments, Alnwick often appears in the Lands Tribunal and High Court to provide an expert's opinion on values and compensation.
Mr Alan Child FRICS
Alan is a Member of the RICS Governing Council, RICS Asia World Regional Board, a Fellow of RICS, and a RICS Registered Valuer. He has over 35 years' of professional experience in Hong Kong, both in government and the private sectors providing valuation service for all types of property. He has also acted as Land Advisor to KCRC for the development of their rail development project and on numerous Government planning and development studies.
Mr David Faulkner FRICS
David is a Fellow of RICS, a RICS Registered Valuer, a RICS Hong Kong Registered Expert on Land Matters, and a Past Chairman of RICS Hong Kong. David Faulkner has over 30 years of experience in Hong Kong real estate field. He covers all the major sectors including residential, commercial, retail, industrial, hospitality and leisure, and has advised on matters including valuations, feasibility studies and development consultancy.
Mr Chun Kong Lau MRICS
CK is a Professional Member of RICS, a RICS Registered Valuer, and a RICS Hong Kong Registered Expert on Land Matters, and is a Member of the RICS Asia Valuation Professional Group Board. He has over 28 years of experience in valuation, real estate consultancy, and the investment sales market, with an emphasis on portfolio valuations, real estate investment and development, and has provided litigation valuation advice as an expert witness for the High Court and Lands Tribunal.
Mr Lucas Lau FRICS
Lucas is a Fellow of RICS, a RICS Registered Valuer, and a RICS Hong Kong Registered Expert on Land Matters. He has professional experience in real estate field over 24 years, and extensive experience in the assets valuation for initial public offering, sale and purchase of lands, and sites and projects appraisals. He has been involved in lease modification, land premium assessment and change of land use application, and infrastructure resumption compensation developments such as the West Rail.
About the RICS Valuer Registration
RICS Valuer Registration is the international mark of valuation expertise. It ensures that Registered Valuers adhere to international valuation standards, are committed to openness and transparency, and are experts in their field. RICS Valuer Registration is an independent system of regulatory monitoring, and ensures that the highest international valuation standards are being maintained and correctly applied.
For further information, please visit rics.org/vrhk
About RICS
Confidence through Professional Standards
RICS promotes and enforces the highest professional qualifications and standards in the development and management of land, real estate, construction and infrastructure. Our name promises the consistent delivery of standards -- bringing confidence to the markets we serve.
We accredit 118,000 professionals and any individual or firm registered with RICS is subject to our quality assurance. Their expertise covers property, asset valuation, real estate management; the development of infrastructure; and the management of natural resources, such as mining, farms and woodland. From environmental assessments and building controls to negotiating land rights in an emerging economy; if our members are involved the same professional standards and ethics apply.
We believe that standards underpin effective markets. With up to seventy per cent of the world's wealth bound up in land and real estate, our sector is vital to economic development, helping to support stable, sustainable investment and growth around the globe.
With offices covering the major political and financial centres of the world, our market presence means we are ideally placed to influence policy and embed professional standards. We work at a cross-governmental level, delivering international standards that will support a safe and vibrant marketplace in land, real estate, construction and infrastructure, for the benefit of all.
We are proud of our reputation and work hard to protect it, so clients who work with an RICS professional can have confidence in the quality and ethics of the services they receive.
About RICS Asia
RICS Asia supports a network of over 20,000 individual professionals across the Asia region with an objective to help develop the land, property and construction markets in these countries, by introducing professional standards, best practice education and training. We promote RICS and our members as the natural advisors on all property matters. We also ensure that services and career development opportunities are provided to members.
RICS Asia region serves local member associations locating in Brunei, Japan, Malaysia, Singapore, Thailand, The People's Republic of China, Hong Kong SAR, Taiwan and South Korea. It also has members working across the region such as Bangladesh, Bhutan, Burma/Myanmar, Cambodia, Indonesia, Kiribati, Laos PDR, Macao SAR, Mongolia, Nepal, North Korea, The Maldives, The Philippines, Timor East and Vietnam. For more information, please visit: www.ricsasia.org.
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