International Property Measurement Standards Coalition obtains copyright to CLGE measurement code
24 March 2014
Dieter Seitz (DE), the member of the Board and Treasurer of the Council of European Geodetic Surveyors (CLGE), has formally handed over their measurement code to the International Property Measurement Standards Coalition (IPMSC). The respective documents were signed by the representatives of both organizations at the CLGE annual meeting in Brussels, Belgium, on 17 March 2014.
Earlier in the day, RICS and CLGE, 2 of the 35 members of the IPMS Coalition, met with European Commission representatives to discuss the further endorsement of the international measurement standards.
The rise in cross-border property investment and expansion by global corporate occupiers underpins the demand for transparency against the backdrop of many different national and local measurement practices. The first of its kind, the International Property Measurement Standard seeks to standardize the way office space is measured around the world by creating transparency and promoting market efficiency and confidence in the minds of all property users. It is already considered one of the most significant developments in the real estate profession in recent history and will go beyond office measurement standardization to include other property types, such as residential, industrial, retail and mixed use.
The CLGE floor measurement standard, incorporated in EU legislation, has served as a basis to the first IPMS, a draft of which is still open for
consultation until 4 April. IPMS for offices will be formally presented in June and will enter into force later in the year. All members of the coalition are committed to making their own measurement standards compliant to IPMS, and CLGE is the first organization to officially hand over the intellectual property rights of their standards to the Coalition.
The world’s leading property institutions, including the Royal Institution of Chartered Surveyors (RICS), have contributed to the development of the standards.
Ken Creighton, RICS Director of Professional Standards, IPMSC Chair:
“Many different standards and measurement codes exist, creating inconsistency in property measurement. Coalition Members agreed to the creation of a single, universally accepted, principles-based IPMS. This global standard will provide consistent quality information, increasing economic stability and making the market more transparent.”
Jean-Yves Pirlot, CLGE President, IPMS Secretary-General:
“This global coalition gives a tremendous boost to our initial initiative. We’re willing to further develop the European Real Estate Area Label, euREAL.eu. Based on the IPMS and shared with all our partners, euREAL will allow us to improve and promote the quality of our work.”
The International Property Measurement Standards Coalition member organizations:
American Society of Farm Managers and Rural Appraisers (ASFMRA)
Appraisal Institute (AI)
Asia Pacific Real Estate Association (APREA)
Asian Association for Investors in Non-listed Real Estate Vehicles (ANREV)
Asociación de Promotores Constructores de España (APCE)
Asociación Professional de Sociedades de Valoración (ATASA)
Italian Real Estate Industry Association (ASSOIMMOBILIARE)
ASTM International
Australian Property Institute (API)
British Property Federation (BPF)
Building Owners and Managers Association International (BOMA International)
China Institute of Real Estate Appraisers and Agents (CIREA)
Commonwealth Association of Surveying and Land Economy (CASLE)
CoreNet Global
Council of European Geodetic Surveyors (CLGE)
Counselors of Real Estate (CRE)
European Council of Real Estate Professions (CEPI)
HypZert GmbH
International Association of Assessing Officers (IAAO)
International Consortium of Real Estate Associations (ICREA)
International Federation of Surveyors (FIG)
International Monetary Fund (IMF)
International Real Estate Federation (FIABCI)
International Union of Property Owners (UIPI)
Japan Association of Real Estate Appraisers (JAREA)
Japan Association of Real Estate Counselors (JAREC)
National Society of Professional Surveyors (NSPS)
Open Standards Consortium for Real Estate (OSCRE)
Property Council of Australia (PCA)
Property Council of New Zealand (PCNZ)
Royal Institution of Chartered Surveyors (RICS)
Seocovi SP (SECOVI)
Society of Chartered Surveyors of Ireland (SCSI)
South African Property Owners Association (SAPOA)
The Appraisal Foundation (TAF)
About CLGE
The Comité de Liaison des Géomètres Européens (CLGE) was founded in the cradle of the Fédération Internationale des Géomètres (FIG,
www.fig.net) in 1962. During the FIG Congress in Wiesbaden in 1972, CLGE got its current name. Its original objective was to consider the implementation of the Treaty of Rome in relation to the geodetic surveying profession.
About RICS
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
118,000 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.
For more information:
Pedro J. Ortiz
CLGE Vice-President
T +34 630 882 745
E [email protected]
W http://www.clge.eu
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