After successfully securing preference by major banks in the Caribbean for its “Valuer Registration Program,” global real estate standards body RICS is continuing its momentum in the region as it gets set to host its first major forum for real estate professionals in the Cayman Islands later this month.

The RICS Cayman Islands Property & Construction Conference, which will be held Feb. 28 at the Grand Cayman Marriott Beach Resort, is a one-day event designed to gather property and construction professionals interested in sharing perspectives, learning about trends and getting a firm understanding of best practices throughout the industry.

The conference will include panel discussions from industry experts and break-out sessions on relevant and current topics, such as “how to improve valuation reports and the valuation profession,” according to Jeremy Superfine MRICS and Director of BCQS International in the Cayman Islands.

Interest in Valuer registration is really beginning to grow in the Caribbean, particularly in the Cayman Islands, and will be an important topic at the conference, said Melissa Salyk, RICS Caribbean Regional Manager.

The program was a global response to the recent financial crisis and the demand from governments, business and the public to improve the quality and consistency of valuations, Salyk explained.

“This registration program is vital to the region because it gives quality assurance to end users of our members’ services that a registered valuer signed up for annual review of his/her work and has taken the extra step to be regulated under this program.”

The program is also designed to reduce risk for banks, government, insurers and the public because RICS does the back end reviews of members data input, Salyk further explained.

In addition, “the conference will raise questions to address the need for greater implementation of real estate standards,” Superfine added. We want to create standards awareness for the profession.”

“There are a number of issues and needs in the Cayman Islands real estate sector, making this the perfect time to hold a conference like this,” Superfine said. “We have a number of infrastructure needs in this region and the growing influence and use of P3 (public-private partnership) funding options will be a major topic of discussion along with dialogue on how government can improve infrastructure procurement.”

The conference will also serve as an opportunity to feature products, services and information on technical updates; network with key industry professionals; and to officially launch of the RICS Cayman Chapter.

Organizers expect attendees of the conference to come from various backgrounds, including real estate development, government, banking, insurance, law, quantity surveying, and engineering just to name a few.

“It’s exciting to know this conference will host professionals from a wide-range of disciplines and experience. This is an open forum for knowledge sharing and a wonderful opportunity for the Cayman Islands to promote to outside investment for business,” said Salyk.

“The conference is a great opportunity for RICS to be able to come before such a large audience and demonstrate all the work we’re doing in the Caribbean to promote best practices for both real estate professionals and end-users,” Salyk noted.

About RICS

RICS is the world’s leading name when it comes to advancing and regulating global professional standards in land, property and construction.

Attaining RICS status is the recognized mark of property professionalism, especially in a world where people, governments, banks and commercial organizations desire greater certainty of professional standards and ethics.

To date, RICS has over 180,000 members and candidates for membership in 146 countries, including the U.S., Canada and the Caribbean. Members rank from students interested in real estate careers to senior level professionals, who have established themselves as preeminent figures throughout the many disciplines within the industry.

Headquartered in London, RICS — which was founded in 1868 and granted Royal Charter in 1881 — is committed to setting and upholding the highest standards of excellence and integrity by providing impartial, authoritative advice on key issues affecting businesses and society. RICS regulates both its individual members and firms, allowing it to provide unparalleled client confidence in the sector.