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In the news 2017

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27 December 2016
The Federal Service for State Registration, Cadastre and Cartography registered a new self-regulated organization (SRO) - “Federation of Professional Appraisers” Alliance (fsosro.ru).

On December 27 the Council of the SRO “Federation of Professional Appraisers” Alliance met for the first time at the conference hall of the Pekin hotel to discuss matters of priority appearing on the new SRO agenda.

Our congratulations to Alyona Verkhozina (Rogich), President of the SRO “Federation of Professional Appraisers” Alliance, and all members on the completion of the official registration, and best wishes for the fruitful journey ahead.

We also congratulate Irina Komar, Managing Partner of the Professional Group of Appraisal, on her appointment as Vice-President of the SRO “Federation of Professional Appraisers” Alliance.

16 December 2016
The Public Consultation Council yesterday held an extended meeting in the Moscow City Duma to closely review the situation surrounding the collection of the individual property tax in the city of Moscow. The meeting brought together leading experts in the field, representatives of the concerned ministries and departments of the Moscow City Government, as well as City Duma and State Duma deputies.

Irina Komar, Managing Partner of the Professional Group of Appraisal and Vice-President of the SRO “Federation of Professional Appraisers” Alliance, was invited to participate in the meeting as an expert representing the appraisers’ community.

During her presentation Irina Komar discussed the definition and methods of determining the cadastral value of real estate, the new formula applied to calculating the individual property tax, and recommendations for challenging overstated cadastral values, as well as for the general procedure of contesting any cadastral valuation results.

Irina made a particular point of Part 5, Article 24.20 of Law No. 135-FZ “On valuation activities in the Russian Federation”, which reads as follows: “In the event that the cadastral value is changed by decision of the commission or court or in the order defined in Article 24.18 of the Federal Law, information on the new cadastral value, determined by the commission or court, will apply, for purposes envisioned by the legislation of the Russian Federation, as of January 1 of the calendar year in which the application for review of the cadastral value was submitted.”

Accordingly, the property tax for 2015, which is payable by the residents of Moscow in the fall, may not be scaled back – not even in the event that the commission or court proves that it was calculated on the basis on an overstated cadastral value. Considering that we have but 2 weeks before the New Year sets in, a similar fate may befall the 2016 tax, which, as the expert noted, “may spark social tension.”










16 December 2016
On 14 December 2016 the Commission for Operational Aspects of Bankruptcy Management (Liquidation) shortlisted a number of expert organizations accredited with the Agency that had submitted bids for provision of services to BANK GOROD (Protocol No. 60). The Commission resolved to pronounce the Professional Group of Appraisal as the winning bidder in the “Valuation Services” nomination.

14 December 2016
On 14 December RICS Russia & CIS professional groups organized a round-table meeting at the VIVALDI PLAZA Business Center to discuss the topic of Valuation Departments and Projects Management.

Anna Isaeva and Irina Komar, Managing Partners of the Professional Group of Appraisal, were invited to take part in the event, which unfolded in a friendly and professional atmosphere. One of the key messages of the meeting was delivered to the RICS members by Maarten Vermeulen, RICS Managing Director for Europe, Russia and CIS: "Notwithstanding the closure of the RICS office in Russia, the Institute will continue to organize professional events for the members in Russia and the CIS. As before, these will include conferences, round-table meetings and Assessments of Professional Competence (APCs)".




14 December 2016
On 14 December 2016 an extended meeting of the Public, Expert and Consultation Councils and a Working Group, established by the Business Ombudsman in Moscow, took place on the premises of the Moscow City Government.

During the meeting the Business Ombudsman in Moscow presented a draft 2016 Activity Report, prepared for the Mayor of Moscow, which included a survey of the Moscow entrepreneurial environment, as well as proposals on improving the legal framework regulating the activities of business entities.

Irina Komar, Managing Partner of the Professional Group of Appraisal, attended the meeting at the Business Ombudsman’s invitation.







25 November 2016
Anna Isaeva and Irina Komar, Managing Partners of the Professional Group of Appraisal, talk about the Appraiser’s Day, celebrated in Russia, in their interview to RICS.

Congratulations to all appraisers on their professional holiday! We wish you a successful career, accurate valuations and interesting projects!

What does this day mean to you?

RICS members Irina Komar and Anna Isaeva of the Professional Group of Appraisal have over the past years attended many professional events dedicated to the Appraiser’s Day. Today they are participating in the XVIII International Appraisers Congress.

“Appraiser’s Day is a great occasion to interact with colleagues, attend informative presentations and – finally – raise a glass to a thriving valuation industry!” says Irina. “We have been discussing the key changes in the legislation regulating valuation activities, the review of cadastral valuation methodologies and matters related to security valuation” says Anna. “It is always interesting to be part of events similar to today’s Congress and to hear the opinions of colleagues, bank representatives and public officials representing such agencies as the Federal Service for State Registration”.
Follow RICS on Facebook.

25 November 2016
Pavel Kurochkin, Anna Isaeva and Irina Komar, Managing Partners of the Professional Group of Appraisal, participated in the XVIII International Appraisers Congress, held at the Moscow Marriott Hotel Novy Arbat.






23 November 2016
Irina Komar, Managing Partner of the Professional Group of Appraisal, Deputy General Director of the Financial and Economic Forensic Experts Alliance took part in an academic and training conference at the Russian Academy of Justice.

The conference was co-organized by the Academy and the Financial and Economic Forensic Experts Alliance to discuss the “Theory and Practice of Forensic Analysis in Reference to Commercial Disputes and Criminal, Civil, Arbitration and Administrative Proceedings".










18 November 2016
What does it take for a woman to build a career in real estate? An interview with Irina Komar, MRICS, Managing Partner of the Professional Group of Appraisal, available on the RICS website.

18 November 2016
In an interview to a IA REGNUM correspondent, Irina Komar, Managing Partner of the Professional Group of Appraisal and Vice-President of the SRO “Federation of Professional Appraisers” Alliance, discussed the plan of the Formula Kino company to challenge the rate of payments for the lease of a film theatre at the Afimall City Commercial and Recreation Centre in Moscow.

Please, follow the link to read the full article REGNUM.

18 November 2016
An article in the Vedomosti: “Formula Kino in litigation with Afimall City over lease terms".

During the morning newscast on Business FM, Irina Komar, MRICS, an expert and Managing Partner of the Professional Group of Appraisal, commented on the dispute in the Headlines news block.

You will recall that the Professional Group of Appraisal was one in a group of independent appraisers appointed to determine a fair market rate applicable to the lease of Formula Kino City film theatre. The film theatre is located in the Afimall City commercial centre.

Afimall City is a large-size commercial centre of 282,100 sq. m, located in the Moscow City.

Formula Kino City is a ten-hall film theatre, which seats 1800 viewers. The film theatre includes an IMAX Sapphire format hall, the first of its kind in Russia, which combines state-of-the-art film screening technology with the comfort of a VIP hall.

15 November 2016
Irina Komar, Managing Partner of the Professional Group of Appraisal, was invited yesterday to attend a meeting of a working group of the Public Consultation Council of political parties, which operates under the Moscow City Duma. Irina participated in the meeting in her capacity of an independent expert on legislation regulating cadastral valuation, individual property taxation and matters referring to contesting cadastral valuation results.

11 November 2016
Irina Komar, Managing Partner of the Professional Group of Appraisal, was interviewed by IA REGNUM journalists about a set of amendments to the legislation currently being reviewed by the Government of RF. If adopted, the amendments will allow the regional administrations to raise the cadastral values of real estate assets.

Please, follow the link to read the full article: regnum.ru

27 October 2016
On 26 October, a round-table meeting titled “Mortgage in Russia 2016” was held at the Swissotel Krasnye Holmy in Moscow.

Pavel Kurochkin and Anna Isaeva, Managing Partners of the Professional Group of Appraisal, took part in the round-table meeting.

The objective of the meeting was to discuss the modalities of cooperation among the state authorities, banks, developers and consultants as a means of facilitating the development of the mortgage market, as well as to make predictions about future market trends.

The round-table meeting was notable for the following:
- Participation of key market players. Representatives of the leading mortgage banks, the Bank of Russia, development institutions (such as Housing Mortgage Lending Agency/Housing Construction Finance Agency, VEB), related sector companies (construction and valuation companies, IT companies and brokerage firms) and mass media took part in the event. The meeting agenda included an interactive survey of the key players on major challenges faced by the mortgage market.
- Presentation of unique analytical findings. During the round-table meeting the findings of a mortgage market status report, which was specially compiled for the event and reflected the results of the first half of 2016, were presented to the participants. The report included a market development forecast for the second half of 2016 and a ranking table of mortgage banks put together by a prestigious rating agency (using HMLA-approved methodology).
- Mass media coverage. The event was attended by over 30 journalists representing the leading business and industry media, such as Interfax, Prime, Rossiyskaya Gazeta, Banki.ru, Analytical Banking Journal, Banking Review, etc. Incidentally, following a similar round table meeting last year, our staff managed to track over 160 media stories mentioning the event.

During the meeting the participants discussed the key trends observed on the mortgage market, mortgage bank ratings, the by-product structure of the mortgage market, the key players’ profiles and competition on the market, matters related to mortgage lending in the regions and market development forecasts for the coming years. Besides, the coffee-breaks presented a valuable opportunity for networking with colleagues and continued discussions of the problems faced by the industry players.

We would like to thank Ksenia Pomogaeva for the invitation to attend the conference. We also thank all of our colleagues for the informative exchange of opinions.





21 October 2016
On 20 October 2016 the Commission for Operational Aspects of Bankruptcy Management (Liquidation) shortlisted a number of expert organizations accredited with the Agency that had submitted bids for provision of services to Admiralteisky Commercial Bank (Protocol No. 52). The Commission resolved to pronounce the Professional Group of Appraisal as the winning bidder in the “Valuation Services” nomination.

14 October 2016
On 13-14 October an International Valuation Conference was held at the Moscow Marriott Hotel Novy Arbat, in which the managers of the Professional Group of Appraisal took an active part.

The conference, which was held for the seventh time, presents a forum for a dialogue involving all of valuation market players, including the Ministry for Economic Development, the Bank of Russia, state corporations, major financial institutions and the leading valuation companies.

The conference agenda included a discussion on the key changes and trends observed on the valuation market, a review of the extensive experience in valuation disputes resolution accumulated to date and debates on topical issues related to automated appraisal services.


















10 October 2016
On 6 October 2016 the Commission for Operational Aspects of Bankruptcy Management (Liquidation) shortlisted a number of expert organizations accredited with the Agency that had submitted bids for provision of services to NOTA-Bank (Public Joint-Stock Company) (Protocol No. 50). The Commission resolved to pronounce the Professional Group of Appraisal as the winning bidder in the “Valuation Services” nomination.

06 October 2016
Our company, which is accredited with the Industrial Development Fund (IDF), has completed a valuation project for Rubin Aviation Corporation JSC. The valuation reports have been approved and accepted by the Mortgage Department of IDF, while out client company has received a go-ahead and financing for its project.

As Evgeniy Kramarenko, General Director of Rubin Aviation Corporation, put it, “The Industrial Development Fund is one of the few financial institutions on the market contributing to industrial development in Russia”.





The Rubin Aviation Corporation is grateful to the Professional Group of Appraisal for what has been described as excellent work and is willing to recommend our company to other clients.

04 October 2016
An excerpt from a letter signed by A.Polad-zade, General Director of Vodstroi OJSC.

“ Vodstroi OJSC decided to appoint the Professional Group of Appraisal in view of the need for an experienced forensic expert to assist on a case involving contestation of the cadastral value of a land plot, owned by our company in the city of Moscow. In our view, the cadastral value of the land plot had been considerably overstated, having been determined with the help of a standard valuation method without taking into account the individual characteristics of the property. Having reviewed our supporting documents, Anna Isaeva agreed to be appointed as an expert on the case. Upon consideration of Ms Isaeva’s extensive experience as a valuation expert (spanning 14 years) and her excellent professional credentials, the Moscow City Court resolved to appoint her as an expert to assist in the hearings of our case.

The forensic enquiry was completed by the deadline set by the court. As a court finding stated, “the forensic testimony was prepared by the expert in accordance with the requirements of Article 25 of Federal Law No. №73-ФЗ of 31 May 2001 “On the State Forensic Expert Activity in the Russian Federation” and Paragraphs 1, 2 and 3 of Article 82 of the Administrative Procedure Code of RF. The testimony relies on statements that allow for verification of the validity and credibility of the findings using current scientific and practical knowledge data. No motions have been filed by the Government of Moscow or the Municipal Property Department of the City of Moscow (respondents in the case) to request a new investigation. The court considers that the claimant’s petition for assignment of the cadastral value equal to its market value (as stated in the expert testimony) to the land plot should be accommodated”.

Vodstroi OJSC would like to extend its appreciation to Anna Isaeva for her professionalism and attention to the case details. Based on the findings of the expert testimony prepared by Ms Isaeva, the cadastral value of our land plot has been reduced by half.

Sincerely,
A.P. Polad-zade, General Director”


03 October 2016
The Professional Group of Appraisal has successfully completed its accreditation with the Industrial Development Fund ( www.frprf.ru ).  PGO has been added to the List of Recommended Property and Other Assets Valuation Companies, approved as by Decree ОД-67 N of 29 July 2016.

In 2015 the Industrial Development Fund assigned RUR 18 billion to project implementation, whereas the 2016 allocations were a mere RUR 6 billion. The total amount budgeted for investment projects equals RUR 98.8 billion.

As of today, we have completed a project involving valuation of the Rubin Aviation Corporation production facilities. The appraisal report has been approved and accepted by the IDF, while the client has received the funds that had been requested from the IDF.

30 September 2016
One more client has benefited from our services by obtaining a favourable decision from the Commission for Contested Cadastral Valuation Results under the Federal Service for State Registration, Cadastre and Cartography. The cadastral value of the land plot in question, which was previously stated at RUR 366 million, was restated by the Commission to equal its market value, as was determined by Professional Group of Appraisal experts. As a result, the applicable tax rate has been decreased by 43.5%!

We would like to remind our clients that the due date for the payment of the property tax (determined based on the cadastral value of the property) payable by all RF citizens is 1 October. If you think that the cadastral value of your property is overstated, feel free to contact our company for assistance. We have a long track record of successful renegotiations of real estate cadastral values for our clients!




26 August 2016
On 25 August 2016 the Commission for Operational Aspects of Bankruptcy Management (Liquidation) shortlisted a number of expert organizations accredited with the Agency that had submitted bids for provision of services to Zernobank (ZAO) (Protocol No. 44). The Commission resolved to pronounce the Professional Group of Appraisal as the winning bidder in the “Valuation Services” nomination.

09 August 2016
On 8 August 2016 the Commission for Operational Aspects of Bankruptcy Management (Liquidation) shortlisted a number of expert organizations accredited with the Agency that had submitted bids for provision of services to AKB Capital Bank JSC (Protocol No. 40). The Commission resolved to pronounce the Professional Group of Appraisal as the winning bidder in the “Valuation Services” nomination.

08 August 2016
Earlier today the Moscow City Court made a positive ruling on case No 3а-669/2016, under which the results of cadastral valuation of a land plot of 222,952 sq. m with cadastral number 77:04:0002023:4, located in Moscow, were contested. Irina Komar, Managing Partner of the Professional Group of Appraisal and Deputy General Director of the Financial and Economic Forensic Experts Alliance, was invited to assist on the case as a forensic expert.

Excerpt from a Ruling by the Moscow City Court on the case involving contestation of cadastral valuation results.

"... В связи с глубокими противоречиями в представленных сторонами доказательствах, устранение которых требует специальных знаний в области оценочной деятельности, и существенным отличием рыночной стоимости, определенной в отчете об оценке № Н7472015, от кадастровой стоимости объекта недвижимости, определением суда от 21 апреля 2016 года назначена судебная оценочная экспертиза, направленная на установление рыночной стоимости объекта недвижимости и включающая проверку отчета на соответствие требованиям законодательства об оценочной деятельности, производство которой поручено Союзу «Финансово-экономических судебных экспертов».

На основании заключения эксперта Союза «Финансово-экономических судебных экспертов» административный истец уточнил требования в порядке статьи 46 КАС РФ и просил установить кадастровую стоимость земельного участка с кадастровым номером 77:04:0002023:4 в размере рыночной * рублей.

В соответствии с правовой позицией, изложенной в пункте 7 постановления Пленума Верховного Суда Российской Федерации от 19 декабря 2003 года № 23 «О судебном решении» и пункте 15 Постановления Пленума Верховного Суда Российской Федерации от 26 июня 2008 года № 13 «О применении норм Гражданского процессуального кодекса Российской Федерации при рассмотрении и разрешении дел в суде первой инстанции», заключение эксперта, равно как и другие доказательства по делу, не являются исключительными средствами доказывания, и должны оцениваться в совокупности со всеми имеющимися в деле доказательствами. При исследовании заключения эксперта суду следует проверять его соответствие вопросам, поставленным перед экспертом, полноту и обоснованность содержащихся в нём выводов. Аналогичное положение содержится в части 8 статьи 82 КАС РФ.

Не доверять выводам эксперта Комар И.А. у суда оснований не имеется, так как они мотивированы, научно обоснованы. Экспертиза назначалась непосредственно судом. Эксперт предупреждался об уголовной ответственности за дачу заведомо ложного заключения, его выводы объективны, а исследования проведены всесторонне и в полном объёме на строго научной и практической основе, в пределах имеющейся у эксперта соответствующей специальности.

Эксперт Комар И.А. имеет высокую квалификацию и большой стаж работы в области оценочной деятельности (14 лет), составленное ею заключение соответствует требованиям статьи 25 Федерального закона от 31 мая 2001 года №73-ФЗ «О государственной судебно-экспертной деятельности в Российской Федерации», частей 1, 2 и 3 статьи 82 КАС РФ, основывается на положениях, дающих возможность проверить обоснованность и достоверность сделанных выводов на базе общепринятых научных и практических данных.

Из экспертного заключения следует, что при его подготовке эксперт использовал метод сравнения продаж в рамках сравнительного подхода, что не противоречит федеральным стандартам оценки и положениям Федерального закона от 29 июля 1998 года №135-ФЗ, а также Федерального закона от 31 мая 2001 года № 73-ФЗ «О государственной судебно-экспертной деятельности в Российской Федерации», отказ от использования доходного и затратного подходов к оценке земельного участка экспертом обоснован и сомнений не вызывает, для оценки земельного участка за единицу сравнения выбран 1 кв. м как наиболее типичная единица сравнения для оценки земельных участков, по основным ценообразующим параметрам для объектов-аналогов произведены корректировки, учитывающие характер и степень отличия каждого аналога от объекта оценки, все корректировки, применяемые в расчетах, обоснованы в применении, расчеты не содержат математических, методологических и арифметических ошибок, являются правильными, приведенные в заключении сведения дают надлежащее представление о рынке земель города Москвы на дату оценки и обо всех ценообразующих факторах, влияющих на рыночную стоимость, о местоположении земельного участка, его количественных и качественных характеристиках, экспертом произведен качественный анализ подобранных объектов-аналогов в целях их сопоставления, в заключении присутствуют ссылки на источники используемой информации, что позволяет проверить используемые экспертом сведения, в заключении эксперт ответил на поставленные перед ним вопросы, оснований сомневаться в установленной экспертом рыночной стоимости земельного участка суд не находит.

Заключение эксперта Комар И.А., как уже отмечалось выше, соответствует требованиям Федерального закона от 31 мая 2001 года № 73-ФЗ, в том числе его статьям 8, 25, и нормам КАС РФ.

Правильность заключения эксперта Союза «Финансово-экономических судебных экспертов», отвечающего требованиям статей 77, 79 - 82 КАС РФ, административными ответчиками не опровергнута, эксперт предупрежден об уголовной ответственности за дачу заведомо ложного заключения в соответствии со статьей 307 Уголовного кодекса Российской Федерации, о чем им дана соответствующая подписка.

Данными о том, что рыночная стоимость земельного участка с кадастровым номером 77:04:0002023:4 по состоянию на 01 января 2014 года, определенная в размере * рублей, является иной, суд не располагает.

Во всяком случае, ходатайств о повторной экспертизе, что действительно могло бы поставить под сомнение достоверность экспертного заключения * от 07 июля 2016 года и установленной в нем рыночной стоимости спорного объекта, административными ответчиками не заявлено.

При таких данных, оценив собранные по делу доказательства, суд находит, что экспертное заключение * от 07 июля 2016 года является надлежащим доказательством, подтверждающим достоверность итоговой величины рыночной стоимости объекта оценки в размере * рублей и может быть положено в основу решения.

Таким образом, суд считает, что административное исковое заявление АО «КЖБК-2» об установлении кадастровой стоимости земельного участка равной его рыночной стоимости, установленной в заключении эксперта Союза «Финансово-экономических судебных экспертов» Комар И.А. по результатам судебной оценочной экспертизы от 07 июля 2016 года по состоянию 01 января 2014 года в размере * рублей подлежит удовлетворению, такие требования административного истца являются обоснованными, рыночная стоимость земельного участка подтверждена надлежащим доказательством по результатам судебной экспертизы на ту же дату, по состоянию на которую определена кадастровая стоимость."
The full text of the document is available at the Moscow City Court web-site..

04 August 2016
The Professional Group of Appraisers, in its capacity of an Expert RA rating participant, received a rating certificate in testimony of the fact that, based on the year 2015 results, it was ranked 53rd in an assessment of valuation companies’ business potential (the company was previously ranked 67th and 98th (in 2014 and 2013, respectively)). The Professional Group of Appraisers was also rated 36th among Russia’s largest valuation companies (vs. 49th and 64th based on the year 2014 and 2013 results, respectively).


Свидетельство


Based on the year 2015 results, the Professional Group of Appraisers was also listed among the Top 30 of the largest companies operating on the valuation market in the following nominations:
  • Top 30 in Real Estate Valuation – 27th place
  • Top 30 in Businesses and Securities Valuation – 27th place
  • Top 30 in Investment Projects Valuation – 17th place
  • Top 30 in Intangible Assets and Intellectual Property Valuation – 21st place
The full version of the Expert RA ranking chart is available on the rating agency web-site www.raexpert.ru.

The Professional Group of Appraisers provided a set of financial statements to the rating agency as a proof of its reported revenues.

The findings of the survey conducted by Expert RA are available on the agency’s web-site and in Denghi magazine publications (Kommersant Publishing House).

05 July 2016
We are pleased to invite you to seminar “Novel Legislation Regulating Valuation Activities. Cadastral Value Contestation Practices" organized by the Kutafin Moscow State Law University.

The seminar will be co-moderated by Irina Komar, Managing Partner of the Professional Group of Appraisal.


04 July 2016
The Professional Group of Appraisal has successfully completed the procedure of accreditation with the Dostoyanie Association of Leading Insolvency Practitioners as a valuation company. The accreditation is valid until 30 June 2017.


09 June 2016
On 9 June 2016 the Commission for Operational Aspects of Bankruptcy Management (Liquidation) shortlisted a number of expert organizations accredited with the Agency that had submitted bids for provision of services to PARITET Non-Bank Credit Institution (OOO) (Protocol No. 31). The Commission resolved to pronounce the Professional Group of Appraisal as the winning bidder in the “Valuation Services” nomination.

08 June 2016
On 6 June 2016 the Commission for Operational Aspects of Bankruptcy Management (Liquidation) shortlisted a number of expert organizations accredited with the Agency that had submitted bids for provision of services to JSC METROBANK (Protocol No. 30). The Commission resolved to pronounce the Professional Group of Appraisal as the winning bidder in the “Valuation Services” nomination.

31 May 2016
Aiming to expand the company’s forensic services, Irina Komar and Anna Isaeva, the leading experts of the Professional Group of Appraisal, have completed a professional retraining course under the programme “Forensic Technical and Construction Audits and Real Estate Valuation”.



31 May 2016
A preliminary (“zero level”) reading of the draft law “On public assessment of cadastral value” was held today at the Civic Chamber of RF.

Some 100 participants – from business and professional community members to public officers – attended the event. The preliminary reading participants discussed a set of amendments to the draft law proposed with a view to minimizing social risks associated with prospective administration of the law.

The findings of the public review of the draft, derived from the opinions and proposals made by the meeting participants, will be used by the Civic Chamber of RF to prepare recommendations for finalizing the draft, which will be forwarded to the State Duma.











A video of the preliminary reading is available at oprf.ru

The full text of the draft law is available at asozd.duma.gov.ru

23 May 2016
Irina Komar, Managing Partner of the Professional Group of Appraisal, presented a report on pre-trial and court practices related to contestation of cadastral valuation results during the Valuation Week 2016 conference organized by the Financial University.

Download report.

18 May 2016
The Professional Group of Appraisal partnered with the Financial University to hold a Valuation Week 2016 conference in May.

Dear colleagues!
, We are pleased to remind you that on 19-20 May the Financial University of the Government of RF will be holding its Valuation Week 2016 conference. The title of this year’s conference is “Valuation News: Appraisal Standards Applied to Practice”. As of today the Valuation Week is the largest among the events organized in Russia to discuss issues related to valuation and collateral and distressed assets management. The conference agenda spans all of the key concerns facing the industry, which have to do with the regulatory environment, Federal Guard Service rules, interactions with the banking sector, cadastral valuation activities and industry development prospects. The event will bring together governmental officials, leading Russian and international valuation experts, business executives and banking community representatives. The conference is a two-day event.

Please, follow the link to the Conference Programme: Programme.

The conference is being organized by the Financial University of the Government of RF. Co-organizers: Investment Russia All-Russian Public Organization, Digital Market Professionals Nonprofit Partnership.

Strategic partner: Independent Property Examination Centre (TsNES).

Partners: Professional Group of Appraisal, AVERTA GROUP, Invest Proekt.

Assistance provided by: Russian Society of Appraisers (ROO Self-regulated Organization), Self-regulated Interregional Association of Appraisers (SMAO), National Association of Self-regulated Organizations of Appraisers (NASO).

Strategic event partner: VD24-Group.

Invitations have been sent out to the following organizations and governmental entities: Ministry of Economic Development of Russia, Federal Agency for State Property Management (Rosimushchestvo), Bank of Russia, Federal Service for State Registration, Cadastre and Cartography, Sberbank, VTB24, major self-regulated associations of valuation companies, National Agency for Financial Studies, National Bureau of Credit Histories, Housing Mortgage Lending Agency, state-owned companies, non-core and distressed assets management companies, investment banks and mortgage companies.

Please, make sure to register in advance as seats are limited.

To register, please, contact the organizers at: dg@vd-24.ru, office@vd-24.ru.

+7(925)319-83-39/+7(495)741-10-49.

29 April 2016
The State Corporation Deposit Insurance Agency has pronounced the Professional Group of Appraisal as the winner among shortlisted bidders for providing services to Taurus Bank (JSC) in the “Valuation Services” nomination.
Please, follow the link for details: asv.org.ru

22 April 2016
RICS III International Annual Conference, which took place on 20 April 2016 in Moscow, brought together over 50 professionals representing the real estate, valuation, utility and transport infrastructure sectors.

The opening statement was made by Adrian Baker, Chairman of the RICS Board in Russia and CIS and Managing Director of Raven Russia.

The first part of the conference was structured as a general discussion of macroeconomic indicators and the Real Estate market. Oleg Shibanov, Academic Director for Economics Programmes at the Corporate University of Sberbank, presented a report on systemic macrorisks facing the Russian economy. He discussed the state of the country’s economy observed as of the end of 2015, including the decline in the real income of the Russian population, the growing inflation and decreasing investment, and shared his views on future economic scenarios. Among other things he predicted strengthening of the national currency in the wake of an oil price increase (even despite the “Doha effect”).

In a report that followed Stanislav Bibik MRICS, Colliers International, presented an investment market overview. Mr Bibik mentioned that the volatile market impeded the conclusion of deals and was a frequent trigger of deal terms revisions.

During the second part of the conference guest speaker Rüdiger Hornung, CEO of TÜV SÜD ImmoWert GmbH, Germany, delivered a keynote statement on risk assessment methodologies related to infrastructure projects. The audience received his presentation with great interest.

Other conference speakers, including Edouard Danilov MRICS of SRG Group of Companies and Ekaterina Sinogeikina, General Director of Euroexpert, also shared their experiences related to valuation of airport and port infrastructure facilities. Mr Danilov made a detailed overview of the airports valuation scheme, including the specific aspects of related cash flows structuring. Ms Sinogeikina discussed the specifics of port and port infrastructure valuation, including the imperative need for governmental support of projects, involving appraisal of port facilities.

The third part of the conference focused on renovation and territorial development projects. Natalya Beskayeva and Alexey Razgulin of Gazprombank presented the topic of infrastructure projects financing (principal funding mechanisms and approaches). The same topic was raised by Pavel Kochetov of the “Territorial Development Management” Public Institution, who discussed the legal aspects of seizure of land by the government for the purpose of infrastructure development. Mr Kochetov used the example of construction projects currently underway in Moscow (construction of new subway stations and road network development projects) to illustrate the urgency of the land seizure issue. He also talked about problems related to construction sites valuation.

Alexander Ivanov MRICS of the Rossiyskaya Otsenka (translated as ‘Russian Valuation’) company then took the floor to make a presentation on cost estimates related to the preparation of the sites of decommissioned nuclear power plants for commercial use. He told the audience that, as of today, 138 nuclear power plant units around the world have been or are at various stages of being decommissioned, not counting experimental, commercial, research and transport reactors. Nuclear decommissioning is a complex technological process involving a high degree of risk. Moreover, the technology required is cost-intensive, valued at almost 40% of a new nuclear plant's construction cost.

The presentations proved highly informative and interesting and were followed by a lively discussion of the practical aspects of special-purpose facility valuation.

A presentation by Igor Pachosik, Head of the Property Management Department of Russian Railways was received with a great enthusiasm. Mr Pachosik told the audience of a number of the company’s projects carried out in the Russian regions and discussed the nuances of their valuation.









Please, follow the link for details: www.rics.org

20 April 2016
A presentation of the first and for the moment only IMAX® Laser Projection movie theatre in Russia – Formula Kino at Kutuzovsky – took place yesterday as part of IMAX® Russia Day celebrations. The movie theatre is to open in August 2016 at the “Oceania” commercial centre, located at 57 Kutuzovsky prospect.

The event included a demonstration of the IMAX® Laser Projection system to the presentation guests. The event agenda also included a presentation of Russian IMAX format movies – The Flight Crew, The Duelist and Attraction, which are due to be released on the big screen in 2016 - 2017. The films were presented by producers Leonid Vereshchagin and Alexander Rodnyansky, film director Alexey Mizgirev and General Director of WDSSPR Anton Sirenko.

Anna Isaeva and Irina Komar, Managing Partners of the Professional Group of Appraisal, were among the event guests as long-standing partners of the Formula Kino cinema circuit.

“The IMAX laser technology is something entirely new on the market! The picture is amazingly realistic and bright”, said Anna and Irina. “We are grateful to Formula Kino for the invitation – it is a delight to be attending such a top mark event!”







14 April 2016
With a view to expanding the company’s construction and technical audit services Anna Isaeva and Irina Komar, Managing Partners of the Professional Group of Appraisal, participated in the seminar “Cost control in construction projects as part of financial and engineering supervision”, organized by RICS.



14 April 2016
The “Valuation Week 2016. Day One” conference will be opening in Moscow on 19 May 2016. The conference is one of Russia’s largest fora for discussing issues related to valuation and collateral and distressed assets management. The conference agenda spans all of the key concerns facing the industry, which have to do with the regulatory environment, Federal Guard Service rules, interactions with the banking sector, cadastral valuation activities and industry development prospects. The event will bring together governmental officials, leading Russian and international valuation experts, business executives and banking community representatives. The conference is a two-day event.

Organized by: Financial University of the Government of the Russian Federation, “Investment Russia” Russia-Wide Public Organization and “Electronic Market Professionals” Non-Commercial Partnership.

Conference partner: Professional Group of Appraisal.

Support provided by: Russian Society of Appraisers (ROO Self-Regulated Organization), Self-Regulated Interregional Association of Appraisers (SMAO), National Association of Self-Regulated Organizations of Appraisers (NASO).

Please, follow the link to a detailed agenda of the conference.

12 April 2016
Dear colleagues!

RICS, jointly with the Professional Group of Appraisal (providing information support) is pleased to invite you to its training seminar titled “Cost control in construction projects as part of financial and engineering supervision”, targeting construction project managers and experts, representing internal control and auditing functions.

The objective of the event is to review business cases illustrating:
- Financial and technical control elements.
- The key cost control methods applied to construction and installation works under various pricing approaches.
- Risk types, risk forecasting methods and risk prevention as part of financial and engineering supervision.
- Volume and cost control methods and completed project quality assurance.

Date: 26 April 2016, 10:00 - 14:00
Location: BENE office, 16 Strastnoy Boulevard, Moscow
The training sessions will be conducted by Sergey Dolzhnikov, RICS, General Director of Expert Engineering Company, Co-Chair of the RICS Construction Group (Russia and CIS).

The participants of the training seminar will receive course certificates.
The seminar programme is attached.
Participation fee:
RUB 1 500 (VAT not included) – for RICS and Financial and Economic Forensic Experts Alliance members.
RUB 4 000 (VAT not included) – for non-members.
*** Group discounts available.

Participation fee is payable by bank transfer before 25 April 2016. Please note that participation is limited to 20 persons. Please contact Maria Tertyshnaya at mob. +7 (906) 057 27 79 or mtertyshnaya@rics.org for any questions concerning participation in the seminar. The seminar will be conducted in Russian, interpreting services will not be provided. We are looking forward to seeing you at the seminar. Detailed information is available at:
www.rics.org

11 April 2016
Over a number of years the Professional Group of Appraisal has been conducting property valuations for the Courtyard by Marriott Nizhny Novgorod City Center hotel. We have witnessed its progression from a drawing to a commissioned project. We are happy to congratulate our clients on this momentous event and are grateful for their favourable feedback on our work.

“An official ceremony, opening the first hotel built in Nizny Novgorod by international hotel operator Marriott, took place on 19 February 2016 at 4 Ilyinskaya street” – reported the Patrioty Nizhnego newspaper. The hotel complex includes a heritage building – a mansion which once belonged to merchant Dmitry Sirotkin.

During the ceremony Vladimir Efimov, Viсe-President of the Russian Hotel Association, handed to a Courtyard by Marriott Nizhny Novgorod City Center representative a four star rating certificate. It is notable that the hotel is the first in the line to have been constructed in the Nizhny Novgorod region in preparation for World Cup 2018.



According to Hans Prince, CEO of Courtyard by Marriott Nizhny Novgorod City Center, the Nizhny Novgorod region was not a random choice for opening a new hotel. It is a city of a rich cultural heritage and great historical value, having a high growth potential. "We have tried to preserve the cultural heritage of the historic part of the hotel. Last week, we received support in our search for photos of old Nizhny Novgorod, which we now have on display in the hotel gallery," Hans Prince said.


05 April 2016
On 12 November 2015 the Moscow City Court appointed Anna Isaeva as a court valuation expert to assist on the hearings of case No. 3а-0080/2016, opened by the court following a suit by Vodstroi OJSC challenging the results of cadastral valuation.

The forensic enquiry was completed by the deadline set by the court. As a court finding stated, “the forensic testimony was prepared by the expert in accordance with the requirements of Article 25 of Federal Law No. №73-ФЗ of 31 May 2001 “On the State Forensic Expert Activity in the Russian Federation” and Paragraphs 1, 2 and 3 of Article 82 of the Administrative Procedure Code of RF. The testimony relies on statements that allow for verification of the validity and credibility of the findings using current scientific and practical knowledge data. No motions have been filed by the Government of Moscow or the Municipal Property Department of the City of Moscow (respondents in the case) to request a new investigation. The court considers that the claimant’s petition for assignment of the cadastral value equal to its market value (as stated in the expert testimony) to the land plot should be accommodated”.

Based on the findings of the expert testimony prepared by Ms Isaeva, the cadastral value of the land plot located in Moscow was reduced by half.














04 April 2016
In its capacity of a co-sponsor, the Professional Group of Appraisal is pleased to invite you to the RICS III International Annual Conference, which is scheduled to take place on 20 April 2016 at the Moscow Marriott Tverskaya Hotel.

This year the conference will focus on the evaluation of large-scale infrastructure projects.

The conference agenda includes statements by major international and Russian economists, risk assessment and financing experts and infrastructure project appraisers.

The keynote speaker is Rüdiger Hornung, CEO of TÜV SÜD ImmoWert GmbH, Germany, who will make a presentation on infrastructure project valuation methodologies.

Working languages are Russian and English. Simultaneous translation will be provided.

For registration, please complete the registration form and return it to Elena Vago, RICS Business Development Manager, at evago@rics.org.





Mass media representatives are invited to attend the event free of charge (for accreditation, please contact Olga Mochalova, Public Relations Officer for Europe, Russia and CIS, RICS, at omochalova@rics.org). Detailed information is available at: www.rics.org

23 March 2016
ООО Moskovskaya Sitsenabivnaya Fabrika (translated as ‘Moscow Cotton Printing Mill’) has appointed the Professional Group of Appraisal to assess the cost of refurbishing the constructional elements and interior finish of a facility located at 7, bldg 14, Derbenevskaya Embankment, Moscow (territory of Novospassky Business Quarter), which was earlier damaged by fire. The assessment results will be used by the property owner as a basis for negotiations with the insurance company.

The building caught fire on 25 April 2015. The press service of the Emercom head office in Moscow reported that 98 firefighters (28 fire teams) were called to the facility to extinguish the blaze. The firefighting operation also supported by the Nadezhda and Colonel Chernyshev river ships. According to witnesses, the fire first broke out on the building roof.

Please follow the link for detailed information: www.vm.ru

11 March 2016
The Moscow City Arbitrazh Court appointed Irina Komar to conduct a forensic examination in connection with Case No А40-204879/15-45-1690.

The full text of the court order is available at kad.arbitr.ru

25 February 2016
The State Corporation Deposit Insurance Agency reports that the Professional Group of Appraisal has been pronounced the winning bidder of a tender for providing specialized services to Eastern European Bank for Reconstruction and Development (OOO) and Vostokcreditbank (OJSC).

The decision was made by the Commission for Operational Aspects of Bankruptcy Management (Liquidation) on 25 February 2016 (Protocol No. 9).

Please, follow the link to see the full text of the decision.

12 February 2016
Thanks to a market value appraisal report, prepared by the Professional Group of Appraisal for OKS, the company managed to win a favourable judgement from the Moscow Commission for Contesting Cadastral Valuation Results under the Federal Service for State Registration, Cadastre and Cartography.

We are grateful to our clients for putting trust in our services and their praise of our work. We take great pleasure in working for our clients to their benefit!


12 February 2016
The following is a ruling by the Moscow City Arbitrazh Court of 12 February 2016 г. on Case No. А40-34318/14:

  1. The Moscow City Arbitrazh Court hereby commissions an expert opinion with regard to Case No. № А40-34318/14, of which the purpose is to address the following question: what is the market value of the real estate property in question as of the date of the expert valuation. The property includes:
    • non-residential building with a total area of 6542.6 sq. m, located at 24, bldg 1, 6th Radialnaya Street, Moscow, cadastral (identification) number 77-77-05/065/2006-980,
    • non-residential building, ground floor, unit VI, room 1, with a total area of 867.7 sq.m, located at 24, bldg 2, 6th Radialnaya Street, Moscow, cadastral (identification) number 78340,
    • non-residential building with a total area of 1673.2 sq. m, located at 24, bldg 8, 6th Radialnaya Street, Moscow, cadastral (identification) number 28667,
    • non-residential building with a total area 1868.8 sq. m, located at 24, bldg 9, 6th Radialnaya Street, Moscow, cadastral (identification) number 28668,
    • non-residential building with a total area of 435.2 sq. m, located at 24, bldg 10, 6th Radialnaya Street, Moscow, cadastral (identification) number 27138,
    • non-residential building with a total area of 40.3 sq. m, located at 24, bldg 11, 6th Radialnaya Street, Moscow, cadastral (identification) number 28664,
    • non-residential building with a total area of 72.9 sq. m, located at 24, bldg 13, 6th Radialnaya Street, Moscow, cadastral (identification) number 28669
  2. The Moscow City Arbitrazh Court hereby appoints Anna Isaeva, an expert of the Professional Group of Appraisal, to conduct a forensic evaluation of the property.
kad.arbitr.ru

04 February 2016
On 4 February 2016 the Commission for Operational Aspects of Bankruptcy Management (Liquidation) shortlisted a number of expert organizations accredited with the Agency that had submitted bids for provision of services to Invest-Ecobank Commercial Bank (OOO) (Protocol No. 6). The Commission resolved to pronounce the Professional Group of Appraisal as the winning bidder in the “Valuation Services” nomination.

25 January 2016
On 8 December 2015, during a session of the Expert Council for Property and Land Matters under the Business Ombudsman for Moscow, Irina Komar, Managing Partner of the Professional Group of Appraisal, presented the following reports:

1. Problems related to forensic examination of market value appraisal reports, conducted in connection with legal challenging of property cadastral valuation results, and consequences thereof. Considerations in support of the requirement to provide documents (as an attachment to an application for cadastral value review), specified in Article 24.18 of Federal Law No. № 135-ФЗ “On Valuation Activities” of 29 July 2014 (as amended on 21 July 2014), subject to the provisions of Federal Valuation Standards No. 3 and No. 5 pertaining to expert reporting standards.

2. Сadastral valuation errors involving misrepresentations of data on property being appraised. Considerations in support of the requirement to publish cadastral valuation results online before they have been approved, as well as to publish methods applied during such valuation to each appraised piece of property.








business-ombudsman.mos.ru

24 January 2016
Today the Professional Group of Appraisal signed a two-year Agreement of Cooperation with the State Corporation Deposit Insurance Agency. Our company was pronounced the bidding winner in the “Valuation Services” nomination. The bidding was conducted in conformity with the Provision on conducting tenders among specialized organizations submitting bids for providing services during the liquidation of financial entities and assistance in the prevention of bank bankruptcies.

19 January 2016
Today, thanks to a valuation report prepared by the Professional Group of Appraisal, a well-reputed Moscow restaurant obtained a 60% reduction of its cadastral value. The Commission for Contested Cadastral Valuation Results under the Federal Service for State Registration, Cadastre and Cartography accepted the Group’s valuation report without objections. We are happy to have obtained a favourable opinion for our client!