Mission statement

Mission statement

Our mission is to advance transparency and professionalism in the Israeli real estate market and bring about a step change in foreign direct investment (FDI) flows into Israeli commercial real estate. At present there is a dearth of FDI investment in Israeli commercial real estate. Partly this is due to a relative lack of transparency: Israel is ranked 37 in JLL's global real estate transparency index and is considered semi transparent.

The Israel IVS Forum has set out two goals to address the transparency gap:

To develop a commercial property index for Israel similar to the ones that exist in advanced markets

To advance adoption of International Valuation Standards (IVS) in Israel.

These two goals are mutually supportive: A valuation based commercial property index would necessitate valuations compliant with IVS and adoption of IVS would facilitate setting up an index.

The importance of adopting IVS extends to beyond the real estate market, as valuations in Israel underpin financial statements compliant with International Financial Reporting Standards (IFRS), which were adopted in Israel a decade ago. It is estimated that 60% of the value of the Tel Aviv 125 stock index lies in the real estate assets of the index components.