Appraisal Institute Provides Its First Education in Persian Gulf

CHICAGO (March 18, 2014) – The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today concluded an historic week-long teaching opportunity at Kuwait University – Real Estate Academy.

“Basic Appraisal Principles,” a 30-hour course taught by Leslie Sellers, MAI, SRA, a former Appraisal Institute president, was the organization’s first-ever educational offering  in the Persian Gulf and is part of an agreement signed with Kuwait University – Real Estate Academy on Nov. 18, 2013. Course attendees included appraisers, engineers and architects who work for banks. The Appraisal Institute will return to Kuwait on April 13-20 to teach “Basic Appraisal Procedures.”

“Our organization was honored to have been approached by Kuwait University – Real Estate Academy, and we were encouraged by the enthusiastic response from the course attendees,” said Appraisal Institute President Ken P. Wilson, MAI, SRA. “We look forward to building on this exciting partnership and continuing to provide first-rate appraisal educational offerings.”

Working with Kuwait University – Academy of Real Estate in Kuwait City is the most recent example of the Appraisal Institute’s international thought leadership:

• Appraisal Institute individuals live and work in nearly 60 countries on six continents.
• The Appraisal Institute has bilateral agreements with 10 other appraisal organizations.
• Last year, Appraisal Institute representatives attended meetings of:
  • The European Group of Valuers’ Association;
  • Expo Real (Europe’s largest business-to-business trade show for property and investment);
  • Union of Pan American Valuers;
  • Association for Real Estate Securitization Japan;
  • National Association of Romanian Valuers;
  • International Property Measurement Standards Coalition;
  • United Nations Economic Commission for Europe;
  • International Valuation Standards Council;
  • HypZert (Germany’s leading organization for valuers working in real estate valuation and analysis in the financial industry with international partners); and
  • Chinese, Japanese and Korean appraisal and banking entities.
• AI has a Designated member on its Board of Directors: Guniz Celen, MAI, of Istanbul, Turkey.
• The Appraisal Institute’s textbook, “The Appraisal of Real Estate,” has been translated into 10 languages.
• The Appraisal Institute helped put a master’s degree program in place at the European Business School, International University, in Germany, which offers a Master of Science in Real Estate.

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