Thai lenders and the investment community will find it easier to set internationally recognised values on investment property under construction, thanks to a new guidance note issued by the International Valuation Standards Council (IVSC).
Commenting on the guideline which was released today globally, Simon Landy, Executive Chairman of Colliers International Thailand, said it was another necessary step in bringing transparency and international alignment to property valuations worldwide.
“Partially completed buildings have always been something of a grey area when it comes to establishing their true value, not only in Thailand but in many markets around the world,” said Mr. Landy. “With the anticipated level of merger and acquisition activity in international markets over the next few years, more certainty is required in the way these values are established. This new guideline will provide an internationally recognised benchmark which will assist in bringing transparency and clarity to valuations of incomplete property assets, especially in listed companies.”
Mr. Landy is a member of the International Valuation Standards Board of the IVSC, a not-for-profit, private sector organisation which was established to ensure an independent and transparent international valuation standards setting process. He was appointed to the Standards Board in 2009 and chaired the working group which developed the new guideline