Advancing global standards in land, property and construction. rics.org

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1 Advancing global standards in land, property and construction rics.org

2 The world of property The property sector represents some 70% of global wealth. Land, property and construction issues affect everyone, everywhere. They have a profound impact at all levels on individuals and communities, small enterprises, global corporations and governments. RICS members around the world understand the whole lifecycle of property from land management and measurement, through planning, environmental impact assessment, and investment appraisal to managing the construction process and advising on the most efficient use of buildings. A modern profession with ancient roots Surveyors have been in demand since the days of ancient Egyptians, who honoured their royal surveyors with ornate tombs. The Romans employed finitores (surveyors) and agrimensores (land surveyors). With the rapid industrialisation and urbanisation of the 19th and 20th centuries, the diverse strands of the profession were drawn together.

3 RICS: The mark of property professionalism worldwide Overview With around qualified members and over trainees and students in some 140 countries, RICS provides the world s leading professional qualification in land, property, construction and associated environmental issues. An independent, not-for-profit organisation, RICS acts in the public interest: setting and regulating the highest standards of competence and integrity among our members and regulated firms, and providing impartial, authoritative advice on key issues for business, society and governments worldwide. Serving the public interest RICS was founded in London in 1868, and granted a Royal Charter by Queen Victoria in The Charter requires the Institution To maintain and promote the usefulness of the profession for the public advantage. This commitment to act in the interests of society in everything we do continues to be our guiding principle.

4 Key roles Knowledge and best practice Setting the highest standards of academic achievement, practical training and continuing professional development Accrediting over 600 courses at leading universities worldwide Setting and promoting international best practice in professionalism. Regulation Regulating the profession through a principles-based state-of-the-art regulatory framework that works with the grain of modern business life Providing a workable and robust framework of protection and redress for clients. Public affairs Advising governments and NGOs on legislation and other public policy issues Leading debate on major global issues affecting business and society, from sustainability in the built environment to international development. Research and economic analysis Leading-edge research into key issues in the built and natural environments Analysing property and construction markets and their impact on economies.

5 Setting global standards Education, training, qualifications and continuing professional development RICS sets international qualification standards for entry into the profession and for CPD. Working in partnership with leading universities around the world, RICS accredits over 600 courses, many at postgraduate level. We also work with employers on training and development. Routes of entry to the profession are diverse, reflecting the wide scope of the profession. All are subject to rigorous academic standards, professional training and assessment. Qualified RICS members are recognised by designatory letters: FRICS (Fellow) MRICS (Member) AssocRICS (Associate). RICS members are required to keep abreast of current practice through a programme of CPD.

6 Best practice From asset management to building codes RICS is the primary source of professional standards, guidance and information on the professional management of land, property and construction. Ethical values RICS members must abide by a code of core ethical values: Act with integrity Always be honest Be open and transparent in your dealings Be accountable for all your actions Know and act within your limitations Be objective at all times Never discriminate against others Set a good example Have the courage to make a stand Comply with relevant laws and regulations Avoid conflicts of interest Respect confidentiality. Regulation RICS regulates individual members and regulated firms through a principles and risk-based regulatory regime. The regime is overseen by the Regulatory Board which has a majority of independent members, ensuring the highest standards of integrity and competence among RICS members.

7 Public policy Thought leadership and impartial advice Governments around the world seek RICS advice on the feasibility of legislation covering some of the biggest issues for business and society, such as climate change, housing provision, asset valuation and property investment vehicles. Global organisations such as The World Economic Forum, United Nations and World Bank look to RICS for advice and guidance on a wide range of topics, including international guidelines for land tenure, disaster management and public-private partnerships. Market and economic analysis RICS team of economists track the markets in construction, commercial property, residential property and rural land, and comment authoritatively on the implications for businesses, individuals and economies. Research and information RICS research programme reflects the breadth of the profession, ranging from issues such as the accuracy of commercial property valuation, to housing in developing nations and the challenges of rapid urbanisation. RICS Library and Information Service is the foremost source of information in the sector, drawing on a vast database of material.

8 Global reach A growing profession 39 surveyors founded RICS in London in 1868; today there are some qualified RICS members in more than 140 countries. The growth of the profession is accelerating, and there are more than students and trainees working towards professional status. World regional structure RICS head office is based on Parliament Square, London, with regions outside the UK leading the global development of the profession. RICS Americas (HQ: New York) RICS Asia (HQ: Hong Kong) RICS Europe (HQ: Brussels) RICS India (HQ: New Delhi) RICS Middle East, Near East and Africa (HQ: Dubai) RICS Oceania (HQ: Sydney). National and local associations RICS has locally organised national associations or groups of members in over 50 countries. An international Governing Council is the overall policy-making forum for the profession, with national associations addressing domestic issues. Staff Over 500 staff in 30 locations lead, manage and support the Institution s work in partnership with RICS members. RICS is a substantial business in the public interest with an annual turnover exceeding 50m.

9 RICS UK England, Northern Ireland, Scotland and Wales Over 80% of RICS members are based in the UK, reflecting the roots of the modern profession. They are integral to the land, property and construction markets, operating across the private and public sectors in the profession s full range of some 200 specialisms. The profession is recognised for its major contribution to the overwhelmingly service-based UK economy. Chartered surveyors provide holistic advice on the whole life-cycle of property, managing a process which includes: site assembly, investment appraisal, planning, environmental impact assessment, funding, construction procurement, project management, cost and build quality control, valuation, marketing, strategic asset management and dispute resolution. RICS is widely recognised in the UK for its market and economic analysis, and its input to policymakers on issues ranging from planning to housing, asset valuation to energy efficiency, taxation to social mobility.

10 RICS Americas Canada, Caribbean, Central America, South America and USA Anchored by its headquarters in New York, RICS Americas has a significant presence throughout North and South America, as well as the Caribbean. RICS Americas members work at the heart of the real estate and construction sectors, providing strategic management and expert analysis in construction, valuation, land management, commercial and residential brokerage, planning and development and dispute resolution. RICS Americas is demonstrating thought leadership in the field of sustainability, for example, by pioneering the concept of green value and market-to-market information in financial reporting as an aid to greater global economic stability.

11 RICS Asia China, Indonesia, Japan, Korea, Macau, Malaysia, Maldives, Philippines, Singapore, Taiwan, Thailand and Vietnam The opportunities for RICS members in China's booming construction and real estate markets continue to grow dramatically. RICS members are at the heart of expansion in Shanghai with construction work intensifying as the city builds 260 new Metro stations; while in Chengdu, chartered surveyors provided advice on master-planning reconstruction following the Sichuan earthquake of Mature markets are being joined by rapidly developing economies such as Vietnam, where accession to World Trade Organisation membership has required professional development and international standards in the property sector. Some qualified professionals are meeting the growing demand for services in the region, with a similar number in education and training.

12 RICS MENEA and RICS India Dubai, Johannesburg and New Delhi RICS is rapidly expanding in the Middle East, Near East and Africa. Chartered surveyors skills are sought-after in the region on issues ranging from land surveying to construction project management. RICS established a formal presence in India in 2008, with the inauguration of a national association based in New Delhi. RICS Fellowship diplomas were presented to some 100 of India s leading real estate professionals. Working with the Indian Government, universities, employers and business organisations, RICS India is helping to establish the professional development and standards in construction and real estate that will be key to sustaining India s growth as an economic powerhouse. RICS members are playing a significant role in managing the unprecedented scale of development in the Gulf Co-operative Countries region, and Dubai in particular. Iconic projects include the spectacular Palm trilogy off the coast of Dubai artificial islands in the shape of palm trees and developments competing to become the world s tallest building.

13 RICS Europe Austria, Belgium and Luxembourg, Cyprus, Czech Republic, Denmark, France, Germany, Greece, Hungary, Italy, Malta, Netherlands, Poland, Portugal, Russia, Spain, Sweden and Switzerland RICS offices across Europe serve a large and diverse membership group and are supported by a regional headquarters in Brussels. RICS members have led the way in promoting consistent and accurate asset valuations in the region. The RICS Red Book valuation standards have been translated into several European languages. This has helped investors, banks and governments to approach property across Europe in a more rigorous and transparent way. RICS contribution to the public affairs agenda is particularly strong in Europe, and the organisation enjoys a close working relationship with a number of Directorates- General of the European Commission. For example, RICS Europe is a key partner of the Commission in promoting the European Energy Performance in Buildings Directive to consumers, business, industry and governments.

14 RICS Oceania Australia, New Zealand, Fiji and Papua New Guinea From overseeing developments such as shopping malls and leisure centres and the design and construction of airports, railways, tunnels, industrial parks and office buildings, to providing financial services and managing urban and rural regeneration projects, the influence of chartered surveyors across the region is far-reaching. Members are trained to enhance and maximise the performance of a site or building within its environment. RICS Oceania s own offices in Sydney set an example, having been awarded a four green star rating by the Green Building Council of Australia. RICS accredits over 20 degree courses at leading universities across Australia. Demand for membership is strong with some 4000 students and trainees in addition to around 1700 qualified professionals across the region.

15 rics.org RICS HQ Parliament Square London SW1P 3AD United Kingdom Worldwide media enquiries: E pressoffice@rics.org Contact Centre: E contactrics@rics.org T +44 (0) F +44 (0) Europe (excluding United Kingdom) ricseurope@rics.org United Kingdom contactrics@rics.org Asia ricsasia@rics.org Africa ricsafrica@rics.org Americas ricsamericas@rics.org Middle East ricsmiddleeast@rics.org Oceania info@rics.org.au India ricsindia@rics.org Advancing standards in land, property and construction. RICS is the world s leading qualification when it comes to professional standards in land, property and construction. In a world where more and more people, governments, banks and commercial organisations demand greater certainty of professional standards and ethics, attaining RICS status is the recognised mark of property professionalism. Over property professionals working in the major established and emerging economies of the world have already recognised the importance of securing RICS status by becoming members. RICS 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 a regulator of both its individual members and firms enabling it to maintain the highest standards and providing the basis for unparalleled client confidence in the sector. RICS has a worldwide network. For further information simply contact the relevant RICS office or our Contact Centre.