Welcome to IVSC Middle East & AfricaAdvancing trusted, transparent valuation across the region

From its regional office in Riyadh — hosted and supported by Taqeem, the Saudi Authority for Accredited Valuers — the IVSC is bringing the global standard-setter closer to the valuers, regulators and investors of the Middle East and Africa.

Riyadh, Saudi Arabia
Hosted by Taqeem
IVSC’s second regional office

A regional home for global valuation standards

The IVSC has established a regional office in Riyadh, Saudi Arabia — its second base outside Europe, following Singapore in 2022. The office is generously hosted within Taqeem’s premises and made possible through the support of Taqeem, the Saudi Authority for Accredited Valuers, reflecting a shared commitment to professionalism, transparency and trust in valuation.

Riyadh was a natural choice. Saudi Arabia and the wider Gulf are among the fastest-growing investment markets in the world, and Taqeem has built one of the most advanced valuation-regulation frameworks anywhere — having fully adopted International Valuation Standards (IVS) and made them mandatory for every accredited valuer in the Kingdom.

From Riyadh, IVSC MEA coordinates region-wide efforts to advance IVS: providing technical expertise, partnering with national valuation authorities and standard-setters, and convening the conversations that build confidence in valuation across the Middle East and Africa.

IVSC announces its new Middle East and Africa regional office in Riyadh, supported by Taqeem
IVSC’s MEA regional office, Riyadh — hosted with the support of Taqeem

The Middle East and Africa at a turning point

As private capital, M&A and cross-border investment accelerate across the GCC and the wider region, consistent and trusted valuation has never mattered more.

$100bn+Middle East M&A value in 2025, growing more than 100% year on year — among the fastest-growing regions globally
$5tn+estimated assets under management held by GCC sovereign wealth funds, driving demand for independent valuation
28+countries from which Taqeem qualifies and accredits valuers, recognised across the region
2030Vision-driven diversification into AI, data centres, tokenisation and new-economy assets that demand robust valuation

The work of the MEA office

Four priorities guide IVSC’s engagement across the Middle East and Africa.

Strengthen the standards

Provide technical expertise and regional perspective to refine and advance the International Valuation Standards (IVS), ensuring they reflect the realities of MEA markets.

Champion adoption with regulators

Work alongside Taqeem and other national valuation authorities and standard-setters to embed IVS as the foundation of regulated, professional valuation across the region.

Build the profession

Support valuation professional organisations, training providers and qualifying bodies to raise capability, ethics and credibility across diverse and rapidly evolving markets.

Convene the region

Engage investors, regulators, professional firms and academia through roundtables, thought leadership and events that bring the MEA valuation community together.

Our host & sponsor

With the support of Taqeem

The IVSC’s Middle East and Africa office exists thanks to the vision and generosity of Taqeem, the Saudi Authority for Accredited Valuers — our strategic partner, sponsor, and host. As a not-for-profit organisation, the IVSC depends on partners like Taqeem to extend the reach of International Valuation Standards, and we are deeply grateful for their commitment.

Taqeem is more than a host. It is one of the world’s most committed adopters of IVS — a government regulator that has made the standards mandatory, translated them into Arabic for the entire region, and sits on the IVSC’s standard-setting process. Our shared work in Riyadh builds directly on that leadership.

Taqeem at a glance

MandateThe Saudi Government body regulating, qualifying and monitoring valuation across all asset classes — the word “Taqeem” means valuation in Arabic.
IVSFully adopted IVS as mandatory core standards, integrated into all training, accreditation and sector manuals.
ArabicLicensed to translate IVS into Arabic since 2013, enriching valuation content for Arabic-speaking markets across the region.
ReachAccredits valuers from 28+ countries; sectors span real estate, business, machinery & equipment, and precious metals & gemstones.
StandardsRepresented in the IVSC’s standard-setting process, contributing a regional voice to the global standards.

Mostafa Ali Elkaliouby, Director of IVSC Middle East and Africa
Mostafa Ali Elkaliouby, Director, IVSC Middle East & Africa

Leading IVSC’s work across MEA

Mostafa Ali Elkaliouby serves as Director of IVSC Middle East & Africa, based in the Riyadh office since April 2025. He brings more than two decades of experience in investment, valuation and financial advisory across the region, having served private equity and corporate clients in Big Four advisory firms and led major financial transactions — including a key role in the IPO of eFinance, Egypt’s largest fintech group, and more than 200 advisory projects across the deal continuum.

From Riyadh, Mostafa leads IVSC’s regional engagement with valuation professional organisations, regulators, investors and professional services firms — and convenes the IVSC MEA Committee, which held its first meeting in Cairo in April 2026. His multilingual proficiency in English, Arabic and French supports engagement right across the region.

  • MBA
  • Master of International Business Law
  • International Certified Valuation Specialist (ICVS)
  • IIBV 200 / 201 / 202 (sponsored by Taqeem)
  • BSc Accounting
Mostafa Ali Elkaliouby
Director, IVSC Middle East & Africa

melkaliouby@ivsc.org

Molefi Kubuzie
Adviser to the Middle East & Africa Committee — seconded to the IVSC to support the Committee’s work and regional engagement

I am honoured to join IVSC at such an exciting time for valuation in the Middle East and Africa. The region’s financial and investment landscape is evolving rapidly, creating an urgent need for globally consistent valuation practices. I look forward to working with stakeholders across the region to champion best practices, elevate valuation professionalism, and ensure local expertise is recognised within global frameworks.

Mostafa Ali Elkaliouby
Director, IVSC Middle East & Africa

The IVSC MEA Committee

Senior valuation professionals, regulators and thought leaders from across the Middle East and Africa guide our work and champion the adoption of International Valuation Standards throughout the region. The Committee was formally constituted in April 2026 and held its first meeting in Cairo, Egypt.

Ahmed Sabry
Chair of the Committee

Ahmed Sabry

Executive Director for Professional Development and Valuation Consultancy, the Saudi Authority of Accredited Valuers (Taqeem).

Saudi Arabia
Dr Audrey Ndarova Kwangwama
Dr Audrey Ndarova Kwangwama
Chair, Valuers Council of Zimbabwe; registered valuer & academic
Botswana / Zimbabwe
Rayan Almofadda
Rayan Almofadda
Partner, Alpha Consulting Group; MBA, SOCPA, Fellow Business Valuer (Taqeem)
Saudi Arabia
Hesham Alkhorayef
Hesham Alkhorayef
Business valuation, Albilad Capital; MBA, ABV
Saudi Arabia
Dr Reem Al-Araj
Dr Reem Al-Araj
Managing Partner, Forvis Mazars in Jordan; PhD Accounting & Auditing
Jordan
Professor Kwame KanKam
Professor Kwame KanKam
Property valuer & real estate academic
Ghana
Lionel Zaba
Lionel Zaba
Dartmouth Management Consulting; CPA, CBV/EEE, ABV
Canada / UAE / Burkina Faso
Dereje Zerfie
Dereje Zerfie
Principal — Appraiser, Valuer & Loss Assessor; RICS member (Addis Ababa)
Ethiopia
Dr Tarek Madany
Dr Tarek Madany
Managing Director, Global Appraisal Tech (GAT); MRICS Registered Valuer
Egypt
Dr Uche Egwuatu
Dr Uche Egwuatu
Partner, Chika Egwuatu & Partners; FNIVS; ESVARBON representative
Nigeria
Mugisha Turyahikayo Allan
Mugisha Turyahikayo Allan
Managing Partner, S-M Cathan Property Consult; FISU, Advocate
Uganda / East Africa
Molefi Kubuzie
Molefi Kubuzie
Adviser to the Committee — former national president, SACPVP
South Africa

Milestones

The story of IVSC’s presence in the Middle East and Africa so far.

October 2024Riyadh

IVSC announces its new Middle East office

The IVSC announces plans to establish a regional office in Riyadh with the support of Taqeem — its second regional office after Singapore, and a central hub for advancing IVS across MEA.

April 2025Riyadh

Mostafa Ali Elkaliouby appointed MEA Director

The IVSC appoints Mostafa Ali Elkaliouby — more than 20 years in investment, valuation and financial advisory — to lead the new office and IVSC’s work across the region.

2025Riyadh

Regional office officially opens

Taqeem and the IVSC mark the official opening of the Riyadh office, reinforcing a shared commitment to professionalism, global best practice and trust in valuation across the region.

April 2026Cairo

MEA Committee holds its first meeting

The newly constituted IVSC Middle East & Africa Committee — regional valuation, regulatory and academic leaders chaired by Ahmed Sabry — convenes for the first time in Cairo in April 2026 to set its strategic priorities and regional work programme.

Voices on the region

We are delighted to welcome Mostafa to the IVSC team. His deep understanding of valuation, investment and financial markets across the Middle East and Africa makes him an ideal choice to lead our new regional office. This appointment reflects our commitment to strengthening the valuation profession in this important and dynamic region, and we are grateful to Taqeem for their support in helping us achieve this vision.

Nick Talbot
Chief Executive, IVSC

International Valuation Standards provide the foundation for transparency, credibility and cross-border investment — benefiting businesses, regulators and financial institutions alike. The region’s landscape is evolving rapidly, creating an urgent need for globally consistent valuation practices.

Mostafa Ali Elkaliouby
Director, IVSC Middle East & Africa

As private investment volumes grow, there will be an increasing need for independent, transparent valuations and adherence to global standards and best practices. The Middle East is at a stage of rapid economic development that is driving significant growth in private capital.

Srividya Gopal
Managing Director, Lincoln International & Chair, IVSC Business Valuation Board

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