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| Friday, 20 September 2002 |
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Institute to promote real estate business The need for a professional body to promote real estate business, produce professionals in real estate activities and provide professional services in real estate activities was felt with the introduction of the liberalised economic policies since late seventies in Sri Lanka. This need was fulfilled with the establishment of the Institute of Real Estate last year and the commencement of these activities in August this year. The Institute covers the activities related to marketing, development, management and valuation of real estate. The Institute was founded by a few professionals in the specialised field of estate Management and Valuation B.Sc.(EMV) produced mainly by Sri Lankan Universities. The special degree course on Estate Management and Valuation was first introduced in the University of Colombo in 1972 and was thereafter transferred to Sri Jayewardenepura University. Professionals who have become members of the Institute are now engaged in practising by providing their services to various Institutions such as Provincial Councils, Municipalities, Government Ministries that deal with land and financial matters. Financial Institutes and Property Development and Holding organisations in the public and private sectors. The Institute of Real Estates set up in January 2001 was duly incorporated under the Company's Act of No. 17 of 1982 and was granted proper legal authority to conduct training courses, hold examinations in the field of real estate including valuation, offer diplomas and other services, grant professional designations such as Chartered Valuer to qualified members. The Institute is geared to look after the interest of the entire real estate business in the country and also promote real estate trade as a viable business, the President of the Institute, A. Wedamulla said. |
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