One of the most significant achievements of the Bureau, capping the year for BLGF, is the successful launching and publication of the Philippine Valuation Standards (PVS) 2nd Edition on 17 December 2018 at the Philippine International Convention Center in which Mr. Nicholas Brooke, Project Leader of APEC/IVSC Valuation Initiative, took part in. Heads and senior staff from the different stakeholders, national and local government agencies, as well as organizations of real estate appraisers namely: United Nations Food and Agriculture Organization (UN FAO), Bangko Sentral ng Pilipinas (BSP), Securities and Exchange Commission (SEC), National Economic and Development Authority (NEDA), National Housing Authority (NHA), Commission on Audit (COA), Land Management Bureau (LMB), Professional Regulatory Board of Real Estate Service (PBRES), Landbank of the Philippines ((LBP), Institute of Philippines Real Estate Appraisers (IPREA), Philippine Association of Realty Appraisers (PARA), Cuervo Appraisers, Inc., among others, participated and witnessed this momentous event.
The Bureau is officially an institutional member of the International Valuation Standards Council (IVSC), an independent, not-for-profit organization that acts as the global standard setter for the conduct and competency of professional valuers. With the launching of the 2nd Edition of PVS, this does not only emphasize RA 9646 or the Real Estate Service Act, but also generates greater credibility in the real estate sector.
Together with Mr. Nicholas Brooke is the Department of Finance Undersecretary Antonette C. Tionko, who likewise, presented the PVS 2nd Edition.