On June 13-15, the first international Appraisers Conference was held in Batumi at “Intourist Palace” hotel under the support of Government of Autonomous Republic of Ajara and the center for Professional Development of Appraisers and Experts, where they discussed the theories and modern approaches of business and real estate valuation issues. Conference was conducted under the sponsorship of “Capto Group”.

The representatives of Georgian Appraisers and accounting companies operating in Georgia, professional organizations of Ukraine, Belorussia, Russia, Moldova and other countries and banks, insurance and microfinance companies operating in Georgian market took part in the conference.

The conference was opened by the Chairman of the Government of Autonomous Republic of Ajara, Mr. Archil Khabadze. Among the speakers there were presidents and vice presidents of Appraisers Association from different countries. After the conference, the participants were given certificates.

Speeches were dedicated to the business and real estate assessment for bank assurance and financial reporting. They also discussed the complex and interesting directions of evaluation such as assessment of cultural heritage. The speeches also covered hotels, petrol stations, sports complexes assessment and valuation methodologies and innovative approaches to agricultural properties. The main topic of the conference was the changes of international standards in the new edition and implementation of RICS standards in Georgia.

George Kvinikadze, the director of “Capto Group”: We welcome and support the first international conference of Independent Appraisers Associations of Georgia, which aims to inform the business community about the importance of  property professional assessment in compliance with the market value for the country's economy and banking sector development. “Capto Group” – member of RSM is oriented to implement the delivery of reports to potential customers according to the international valuation standards. Accordingly this conference is more important to discuss the changes of international standards in the new edition and develop RICS standards in Georgia.