Australia, RP to professionalize land valuation

MANILA, Philippines - Australian Embassy Charge D’Affaires Stephen Scott, Finance Secretary Margarito Teves, and University of the Philippines Open University (UPOU) Chancellor Grace Javier Alfonso launched an initiative to help unlock the development potential of land in the Philippines.

Supported by the Australian Government Aid Program and the World Bank, the UPOU has developed the first formal land valuation courses of international standard in the Philippines. The new education program is the result of a collaborative effort between Australia’s Central Queensland University, the UPOU, the DOF, and the Department of Environment and Natural Resources, through the Land Administration and Management Program Phase 2 (LAMP2).

“The courses will improve the skills of Filipino real estate practitioners to conduct credible land valuations that reflect market values,” Scott said.

“Reforms to land administration and management have the potential to unlock development, stimulate business and improve the lives of millions of Filipinos,” Scott said. “Credible land valuation is one of the critical reforms required to realize this potential. Technically competent, highly trained and accountable real estate practitioners, such as land valuers, can be the catalysts for reform.”

For more than a decade, the Australian Government Aid Program and the World Bank have been helping the Philippines improve economic development by setting standards, streamlining systems, supporting legislative initiatives and policies, and strengthening institutions through capacity building programs and information systems for land administration and management.