RICS: Professional Surveyors As Essential Players in Every Economy

Royal Institution of Chartered Surveyors
2009-03-23 19:11 656

HONG KONG, March 23 /PRNewswire-Asia/ -- The high ethical standards and professional competence of chartered surveyors are a vital element in the future competitiveness of the economy, says a report published in UK recently. The report, commissioned by UK Treasury, has concluded that the strong, global reputation of UK property professionals will not only play a vital role in ensuring that the UK economy emerges successfully from the current downturn, but will also be essential to sustained prosperity in the longer term. Former Policy and Resources Committee Chairman at the Corporation of London, Sir Michael Snyder, welcomed RICS' significant efforts in promoting and developing the profession around the world.

Among the report's findings and recommendations for the land, property and construction sector are:

-- the report recommends the Government to work with RICS in promoting UK

professionalism in the field of international valuation standards as

best practice, in the interests of future global financial stability;

-- the planning system would benefit from more, and better qualified,

recognised and rewarded planners in local government. Increasing the

number of planning-related university courses and bringing experienced

planning officers back from the private sector would help;

-- there is a strong need to develop better understanding of the value of

professional, strategic asset management among businesses, for example

by including a property element in business education;

-- the report highlights the global reach of RICS members, and the

confidence that their reputation for excellence and integrity inspires

in potential investors in the UK, emphasising RICS' leading role in

developing international valuation standards and norms of measurement

in construction.

Mr Darren Jensen, Director of RICS Asia said, "The findings and recommendations revealed by the report can definitely apply locally in Asia, with chartered surveyors playing even more important role in times of economic downturn. With the financial turmoil bringing certain level of impact to the local economy, we would recommend governments to strengthen working relationship with industry professionals to safeguard the equilibrium of the markets."

Mr. Henry Li, Chairman of RICS China comments, "Over the past few months, we have witnessed the strong blow from the economic downturn of the US and European markets. Fortunately, China is among the few economic systems that are strong enough to offset the challenges in a quicker pace. RICS members have played a vital role in bringing along new businesses to the market as well as strengthening level of corporate governance in the practice. A Workshop for UK-China Centre for Professional Excellence in Chongqing organized by the Chongqing authorities recently shows that there will be great opportunities for chartered surveyors to advance their career riding on the construction and real estate market in China."

A copy of the full report can be found at:

About RICS & RICS Asia

RICS (Royal Institution of Chartered Surveyors) is an independent professional body originally established in the UK by Royal Charter. Since 1868, RICS has been committed to setting and upholding the highest standards of excellence and integrity - providing impartial, authoritative advice on key issues affecting businesses and society. RICS is the worlds' leading qualification when it comes to professional standards in land, property and construction. With over 140,000 members globally, RICS represents, regulates and promotes the work of property professionals throughout 146 countries.

The RICS Asia supports a network of over 11,000 individual professionals across the Asia region with an objective to help develop the property and construction markets in these countries, by introducing professional standards, best practice and international experience. It promotes RICS and its members as the natural advisors on all property matters. It also ensures that services and career development opportunities are provided to members.

The RICS Asia region covers national associations and local groups locating in Brunei, Malaysia, Singapore, Thailand, The People's Republic of China and the SAR Hong Kong. It also has members working across the region such as Bangladesh, Bhutan, Burma/Myanmar, Cambodia, Indonesia, Japan, Kiribati, Laos PDR, Macao, Mongolia, Nepal, North Korea, South Korea, Taiwan, The Maldives, The Philippines, Timor East and Vietnam.

Designated contacts for Hong Kong media:

RICS Hong Kong Public Relations Representatives

Ms Katherine Chow / Ms Kate Kwan

Tel: +852-2372-0090

Fax: +852-2372-0490

Mobile: +852-9256-3223 / +852-9077 1337

Email: /

Source: Royal Institution of Chartered Surveyors
Keywords: Real Estate