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6. Valuation Approach

Umluj Land comprises a large tract of vacant land located within the western region of the Kingdom of Saudi Arabia. Surrounding land uses comprises large vacant parcels of land similar to the subject.

The comparable approach to valuation is the most commonly used approach for valuing real estate of all types, including land. However, it can be challenging to find comparable properties for very large plots of land, especially if the land is unique or has a specialized use.
In cases where there are no comparable sales available, appraisers will often use a modified comparable approach. This involves identifying properties that are similar to the subject property in some respects, but not all. For example, an appraiser might compare a very large plot of land to smaller plots of land in the same area, or to larger plots of land in different areas.
Once the valuer has identified a few comparable properties, they will make adjustments to the sales prices to account for the differences between the comparable properties and the subject property. These adjustments may be made for factors such as size, location, zoning, and access to utilitie
Under International Valuation Standards (IVS 105) the three main approaches to value include:
1) Comparable approach
2) Income approach
3) Cost approach

In the case of the valuation of development property, such as the 6. Valuation Approach

Umluj Land comprises a large tract of vacant land located within the western region of the Kingdom of Saudi Arabia. Surrounding land uses comprises large vacant parcels of land similar to the subject.

The comparable approach to valuation is the most commonly used approach for valuing real estate of all types, including land. However, it can be challenging to find comparable properties for very large plots of land, especially if the land is unique or has a specialized use.
In cases where there are no comparable sales available, appraisers will often use a modified comparable approach. This involves identifying properties that are similar to the subject property in some respects, but not all. For example, an appraiser might compare a very large plot of land to smaller plots of land in the same area, or to larger plots of land in different areas.
Once the valuer has identified a few comparable properties, they will make adjustments to the sales prices to account for the differences between the comparable properties and the subject property. These adjustments may be made for factors such as size, location, zoning, and access to utilitie
Under International Valuation Standards (IVS 105) the three main approaches to value include:
1) Comparable approach
2) Income approach
3) Cost approach

In the case of the valuation of development property, such as the subject property, valuations are normally undertaken using two approaches:
1) Comparable approach
2) Residual approach
, valuations are normally undertaken using two approaches:
1) Comparable approach
2) Residual approach