RICS Annual Review 2012

ics.org

Advancing standards
and professionalism
in land, property and
construction
RICS is the world’s leading professional qualification when it comes to land,
property and construction.
Wherever you are in the world, the designation ‘RICS’ stands for professional
excellence, expertise and integrity. This is why over 100 000 professionals have
recognised the importance of securing RICS status by becoming members.
Given the close link between property markets and economic performance,
people, governments, banks, commercial organisations and employers are
looking for more certainty around standards and ethics.
As one of the few professions to have established arm’s length self regulation
of our members and firms, RICS is able to set and maintain the highest standards,
whilst operating as an independent organisation in the public interest.
Our overarching body, RICS Governing Council, has a clear vision for the
organisation – to be recognised in key worldwide markets as the body that
sets and enforces professional standards and offers access to the most
sought after professional status.
To achieve Governing Council’s vision we established four corporate goals
for 2011/2012:
achieve recognition of RICS standards by markets and governments
provide professionals with leading edge products, services and information
be recognised as a leader in ‘responsible business’ practices
make RICS more agile to take advantage of new opportunities.
In this annual review, which covers August 2011 to July 2012, we provide a
snapshot of the year’s achievements in meeting our goals and in realising
Governing Council’s vision. We also report on financial performance and look
ahead to some of the key issues on our agenda for the forthcoming year.

Achieve recognition
of RICS standards by
markets and governments
(See pages 10–17)
Provide professionals
with leading edge
products, services
and information
(See pages 18–21)
Be recognised as a
leader in ‘responsible
business’ practices
(See pages 22–23)
Make RICS more agile
to take advantage of
new opportunities
(See pages 24–25)
Contents
Introduction
Foreword from the President 04
Message from the Chief Executive 06
Highlights of the year 08
The Economist’s view 09
Corporate performance
Goal one – recognition of standards 10
Goal two – equipping leading edge professionals 18
Goal three – responsible business 22
Goal four – agile approach to new opportunities 24
RICS membership 26
Membership growth 28
Group financial statements 30
Group income statement 31
Group balance sheet 32
Group cashflow statement 33
Notes to the summary financial statement 34
Independent auditors’ statement 35
RICS governance structure 36
RICS management structure 38

Foreword

Foreword from
the President
As markets worldwide continue to seek pathways out of the global financial crisis,
professionalism is emerging as a core component of the solution. Professionalism
creates trust and leads to confidence in the market.
Surveying is at the heart of the market. It touches every part of our lives: the spaces
where we work, live and play; the infrastructure that underpins and connects them, and
the legal and financial aspects governing and enabling their use and ownership. RICS
members are active in sectors as diverse as sustainable urban development; affordable
housing; capital markets; urban and rural infrastructure; project management and
business valuation.
Over the past year RICS has gone from strength to strength in both new and established
markets. Today we have some 114 000 members and trainees in over 140 countries
– a genuinely global network of professionals.
With growing demand for professionalism, RICS has become the leading proponent of
internationally recognised standards that provide reassurance to developers, investors,
lenders and consumers. Standards enable meaningful comparisons, leading to wellinformed
decisions. They provide for certainty, transparency and the most efficient use
of scarce resources.
Our international presence helps us to achieve international standards. I therefore pay
tribute to my immediate predecessor, See Lian Ong, who did so much to forge new
partnerships for RICS in China, Japan and throughout Asia.
Just a few of our most significant achievements during the last year include:
of Business and Intangible Assets was introduced as a chartered discipline
New Rules of Measurement (NRM) in April
RICS’ leading position today is testament to the strong and highly effective partnership
between our staff and members. Over 1 000 members give their time freely to sit on RICS
boards and committees, or to act as assessors and mentors. This partnership and shared
commitment to the highest standards is perhaps our greatest strength; it gives life to the
profession and enables us to deliver the many achievements featured in this review.
Alan Collett FRICS
RICS President 2012/2013
RICS Annual Review 2011/2012 05

Message
from the Chief
Executive
Against a background of continuing challenge in some of our key
markets, I’m delighted to be able to report significant progress
during the year towards realising our Governing Council’s vision
‘to be recognised in key worldwide markets as the body that sets
and enforces professional standards and offers access to the most
sought after professional status’.
Recent world events have demonstrated beyond doubt the vital
role of land, property and the built environment in underpinning
vibrant and sustainable economies. As I talk to employers,
industry leaders, government ministers and those who use our
members’ services around our markets, I am constantly struck
by the clear and increasing demand for professional standards
and ethical practice. In a word, we are being asked to provide
confidence, in both the competence and the integrity of our
profession as a vital component in the success of developed
and emerging markets.
Achieving recognition by markets and governments
Building market and stakeholder trust and recognition is therefore
our core purpose. We do this very specifically by targeting
employers, end users, governments and opinion formers, seeking
formal adoption and endorsement of RICS qualifications and
standards. The year has seen some outstanding examples
of recognition for RICS members and standards around the
on Construction Standards and the New Rules of Measurement,
launched in April 2012. There are many more examples of how
we are raising the status of the profession in this review.
Establishing RICS in Brazil
relationships with key government agencies, major firms, academic
about building the profile of the profession, partnering with senior
real estate professionals to identify and promote best practice
through RICS standards and guidance. We recruited a full-time
Regional Manager to build recognition of RICS and manage the
Board and Membership Development Committee were established
to help guide various initiatives and align us with the market.
areas of particular success.
Promoting the profession
showcased by London Olympics 2012, as they build capacity
for vital infrastructure, commercial and residential developments.
four years, is one of those countries. In September 2012 I was
Along with the Prime Minister I met many leading figures including
professional body to be represented in the influential delegation
of 30 business leaders, demonstrating that we are really achieving
our vision to gain market recognition for our standards – a huge win
for RICS and the profession, and a personal honour. I look forward
to maximising the opportunity we have earned by showcasing the
advances being made by the profession worldwide.
Strengthening confidence in valuation
always been to ensure that these standards, which underpin so
much economic activity around the world, are being maintained
and correctly applied. The new intake of members brings the total
about the quality and consistency of valuation advice following
demonstrates the value that professional regulation provides to
underpin high standards and support markets globally. Monitoring
activity has continued to take place for registered valuers operating
very successful and has demonstrated that the model works
Influence, profile and credibility
Our economic commentary and research programme continued
to earn attention and respect, supported by high quality media
coverage across the world on a wide range of issues including
Public Private Partnerships, future trends in corporate real estate in
global cities as well as our regular surveys on property market trends.
Enhancing continuing professional development
Governing Council approved a new policy for continuing
professional development (CPD) which will be introduced from
1 January 2013. In response to member feedback, we have
outlined a clearer policy, including a 20 hour annual commitment
to CPD and mandatory ethics training at least once every three
years. This policy will make it simpler for RICS members to comply
and to demonstrate how they stand apart from their competitors.
We have implemented a new online CPD management system to
make it simpler for members to record their CPD, and therefore for
RICS to assess compliance highlighting member competence and
excellence as fundamental to raising standards in the profession.
Sean Tompkins
RICS Chief Executive

2011/2012
RICS Annual Review 2011/2012 07

Highlights
of the year
March 2012
Clear and
simple ethical
standards
launched
April 2012
RICS members’
role in London
2012 celebrated
July 2012
Corporate Twitter
account had over
20 000 followers
at year’s end
July 2012
First firm in
the Americas
became ‘Regulated
by RICS’, bringing
regulated firms
worldwide to 10 500
July 2012
Corporate
LinkedIn account
had over 27 000
members by the
end of the year
Across the year
Real Estate Agency
and Brokerage
Standards endorsed
by major firms
across the globe
January 2012
New route to
membership
launched
– professional
experience route
(PER)
July 2012
Nearly 14 000
Registered
Valuers
worldwide by
end of year
February 2012
Valuation of
business and
intangible assets
pathway launched
– the first new one
in almost 10 years

July 2012
Our dispute
resolution service
now operates in
every state and
territory in Australia
March 2012
Won a AUD
$650 000
government tender
to produce help
for SME tenants
on energy saving
July 2012
Nearly 13 000
registered web
class users on our
Online Academy
The
Economist’s
view
There was understandable optimism that 2012 would be the year
when the world economy finally began to shrug off the legacy of
the credit crunch and the subsequent recession. However growth
expectations have been progressively downgraded as the year has
advanced and this trend has not just been a feature of the so-
significant slowing in the pace of activity while the Chinese economy
has seen growth moderate from in excess of 9% to something
In response to the more sluggish business climate central banks,
and in some cases governments, have been taking steps to try
meant more in the way of unorthodox monetary policy, in
interest rates have been lowered, reserve requirements relaxed
and in some cases, a fiscal stimulus provided. It is too early to
say how successful this set of measures will prove given the
significant headwinds that will continue to emerge from the
Meanwhile, the real estate sector has continued to display a
measure of resilience away from the more mature economies.
So slower, but still positive, growth in the BRICS has, for example,
largely underpinned both the commercial and residential property
sectors in these countries. The construction sector, meanwhile, has
continued to be a source of growth in much of the emerging world
albeit a less dynamic one than was previously the case.
In the more mature parts of the world, finance remains a very real
issue for real estate. This has contributed to a very real divergence
in interest between ‘hot’ properties where purchases have often
been funded by equity and the rest. The latter have more typically
struggled against the backdrop of weak economic activity,
oversupply (in some cases) and a shortfall of debt funding. However
(the epicentre of the original crisis) may finally be beginning to turn
around after experiencing the most dramatic of falls in both sales
and prices.
Looking forward, there are good reasons for believing that 2013
will be a better year from a macro perspective than 2012 with
policymakers now beginning to recognise the scale of the actions
needed to deal with a credit induced recession. However, it
would be foolish to assume that growth will be significantly higher,
particularly in the west. Fiscal programmes will continue to be
geared towards public sector debt reduction and indeed, the scale
of the tightening in policy could in some countries accelerate.
At the same time, the emerging world may re-emerge as a more
vigorous driver of global growth. This may be particularly so if
the measures currently being taken to rebalance some of these
economies towards domestic consumption and away from
reliance on exports to the west are successful.
Simon Rubinsohn
RICS Chief Economist
RICS Annual Review 2011/2012 09

Achieve
recognition of
RICS standards
by markets and
governments
The major focus of much of our activity during the year was to
establish the importance of our standards and the role of RICS
and its members in global economies. During our reporting year
we achieved some notable successes in gaining recognition in
markets and with governments around the world.
Real Estate Agency and Brokerage Standards
gained major traction globally with governments and key
employers. Several international firms formally recognised and
to endorse and recognise their commitment to adopt the
for China as well.

REABS was translated into
a number of languages
including Chinese, Dutch,
French, German and Italian
From the Baltics to Spain and from France to Sweden
by multinational firms such as BNP Paribas, Aguirre
Newman, Colliers, Axis Property and Catella, to name
but a few.
It wasn’t only RICS members and their firms who
Practice Checklist. At its official launch RICS was
acknowledged as a major contributor.
into a number of languages including Chinese, Dutch,
French, German and Italian.
RICS Annual Review 2011/2012 11

Valuation Standards
that valuations across the world are produced to high standards
of integrity, clarity and objectivity.
A growing number of end users such as banks, insurers and
funds, now demand RICS Red Book valuations. The Financial
Stability Board (advisory body set up by the G20) named the
Red Book as a standard of good practice in its consultation
paper on the principles for sound residential mortgage practice.
In June, we issued Application of
RICS Valuations – Professional
Standards in the US Guidance Note
1 (USGN1) further harmonising what
members in the US are required
to do by law and the guidance we
provide through the Red Book.
An intensive programme of market engagement
was delivered in Brazil, which enabled us to
build relationships with government agencies,
major firms, academic institutions and trade
bodies. Activity culminated in a presentation
of RICS Valuation Standards to the Brazilian
Real Estate Index Committee. Coverage of our
market entry into Brazil was secured in Valor
Economico (a key business newspaper)
and a feature on RICS and international
investment in a leading real estate magazine.
PREVI – a major Brazilian
pension fund – adopted the
Red Book Standards and agreed
to encourage other pension
funds in Brazil to do the same.

In the UK, Baroness Hanham, Communities
and Local Government Minister in the House
of Lords, recognised the value of our
Valuation Standards during a debate on the
Local Government Finance Bill. While Baroness
Hayter highlighted the professional standards
of surveyors as a model for the financial
services sector to follow in a debate on the
Financial Services Bill in the House of Lords.
Following a consultation period
with our kindred body, the
Society of Chartered Surveyors
in Ireland (SCSI), a new chapter
on residential mortgage valuations
in Ireland has been developed as
part of the Red Book. Approved
and endorsed by RICS, this was
officially launched in June.
The Association of Banks in the Netherlands
agreed to prescribe the Red Book and RICS
accreditation to their members, for larger
portfolios and buildings of considerable value.
PricewaterhouseCoopers
in Benelux agreed to obtain
Red Book valuations for
all their audited real estate
portfolios. In Spain Knight
Frank and Spanish valuation
body Tasadora Thirsa signed
an agreement to carry out
valuation assignments
according to RICS Standards.
RICS’ recommendations on the Land
Acquisition Bill in India were heeded by
the Indian Government. We opposed an
irrational approach to land valuation in
the draft legislation and recommended
adoption of market valuer as per IVS and
the Red Book. The Bill was withdrawn as
a result to give time for further consultation.
RICS, as a professional body, and our
qualifications were formally recognised in
India by The Indian National Housing Bank
and Indian Banks Association. Additionally,
the Indian housing minister praised RICS for
our ongoing efforts to bring professionalism
to the Indian property industry.
RICS valuation surveyors in Australia are
now recognised by all major banks, following
recognition by National Australia Bank. We
were also accepted by the Tax Practitioners
Board in Australia for the purposes of quantity
surveyors being registered with the Board.
RICS was invited to sit on two Australian
national standards setting bodies to provide
advice on new sustainability standards.
RICS Annual Review 2011/2012 13

Measurement Standards
and New Rules of Measurement (NRM) marked one of the most
significant advances by RICS in the past 30 years. The Standards
provide the tools for the construction industry to work collaboratively,
efficiently and consistently. With the rise of Building Information
Modelling (BIM) and the twin imperatives of cutting costs and
carbon out of construction projects, there has never been a more
pressing time to introduce new standards for cost estimating and
Paul Morrell was a keynote speaker at the launch of the Standards
an audience of over 100 industry leaders.
The NRM have been adopted in other markets too. The Japanese
Government’s Research Institute on Building Cost (RIBC) will be
including translations of certain parts of NRM 1 in their annual report,
Surveyors as a standard which summarises the way of thinking
of the cost control in the lifecycle of construction project”.
“Extremely useful for Japanese
Quantity Surveyors as a standard
which summarises the way of
thinking of the cost control in the
lifecycle of construction projects”
included RICS designated members in its list of approved providers
of cost estimating services for a project.
Regulated by RICS
RICS continued to bring assurance to firms and their clients by
regulating firms in new world regions. By the end of the year we
had registered the first regulated firms in the Americas, the Middle
demonstrated their commitment to following the highest standards
of client protection, service and ethics as well as professional
RICS’ worldwide.
became the first in the western hemisphere to become an RICS
regulated firm. This is a milestone in the growing market in the
regulated, we are beginning to see demand from governments
and banks in the region for the proactive regulation that our
valuer registration initiative offers.
Collaborating internationally to set standards
Working with other leaders in the profession we will together
ensure high level principle-based international standards are
created and sustained. While in the public interest, they will also
open international markets for RICS membership, knowledge
products and regulation in all Professional Groups. We are initially
while ensuring they fit together and enable each other.
10 500
firms ‘Regulated by RICS’ worldwide

New opportunities
Americas
to address the issue. The event, hosted by the Appraisal
Foundation and supported by RICS, took place in April and
proved a further milestone in achieving recognition of our
Summit in October.
we were accepted as a member of both the High Performance
Buildings Congressional Caucus Coalition and the Consultative
Council of the National Institute of Building Sciences.
South Africa
number of organisations in South Africa which will help enhance
collaboration with the following bodies:
(South African member association for quantity surveyors)
representative body of property companies in South Africa).
Japan
being signed between our two organisations and has opened a
Russia
(overarching body of all Russian professional self-regulated
Moscow) will lead to closer collaboration with these bodies as
well as having significant symbolic value in the Russian market.
Sweden
We met with Handlesbanken (one of the four big Swedish banks)
to encourage leading Swedish banks to recognise the Red Book.
Lead, influence and
provoke discussions
RICS Annual Review 2011/2012 15

Thought leadership
With the wealth of knowledge, research capabilities and
market insight at our disposal we are in a strong position
to lead, influence and provoke discussions on key industry
issues across the world.
The 2012 Games: The Regeneration Legacy
Westminster, compares the planning and delivery of the 2012
Games in London with the approach of other host cities in delivering
regeneration associated with six previous major sporting events.
Cup in France and the 2006 Commonwealth Games in Melbourne.
It highlights London’s focus on legacy from the outset as a key
factor in planning for lasting benefit and how the Games provided
a unique opportunity to stimulate the regeneration of the heart of
on and around the site.
The report was launched by Olympics Minister Hugh Robertson
and Sport (DCMS) website. As well as being used as part of RICS
to support RICS engagement and promotion in different countries
Real estate and construction professionals in India by 2020
This study, carried out by Jones Lang LaSalle, indicates a likely
shortage of around 44 million core professionals in India by 2020.
The research analyses the future contribution of built environment
in India’s economic growth, population trends and corresponding
potential demand for real estate space and infrastructure. It then
analyses the professions and skills that will be required, in terms
of demand and supply of core professions of civil engineering,
architecture and planning; non-core professions; and new
specialised professions that are emerging in the fast-paced
and increasingly complex built environment.
The research has been the basis for a range of government
engagement by RICS India which has established RICS as an
influential body when it comes to the skills needs of India as
the country’s economy expands.
Commercial real estate climate change model
from over 60 000 buildings to build a picture of how climate
change affects operating costs and investment decisions in the
constant, overall energy demand and operating costs would
decrease, as increased electricity costs would be more than
compensated for by reduced heating costs. For office buildings,
This report has attracted interest from property owners and
occupiers in both the public and private sectors. RICS, along
with the research authors Sturgis Profiling, is in the process of
into a software tool to be used by property investors.
Tax Increment Financing: An opportunity for the UK
The report critically examines the TIF models that are operational
introduction of pilot TIF schemes in Scotland and the possible
use of TIF at Battersea in London.
The report was used to respond to the
issued in 2011 on the localisation
and retention of business rates.
The Future of Private Finance Initiative
and Public Private Partnerships
This groundbreaking research looked
at the impact of the global financial
crisis on Public Private
Partnerships in Australia,
It highlighted both
the benefits of PPPs
and the problems that
affect the system.
A series of RICS launch
events were held in
different countries culminating in a
major conference in New Delhi in August 2011. The findings
Our UK members recognised
RICS members played a vital role in delivering the London 2012
Olympic and Paralympic Games, from before the bid, through land
assembly, planning and construction to the crucial regeneration
legacy. In a film documentary and specially extended issue of
Modus, we showcased some of the hundreds of RICS members
behind the success of the Games. Baroness Ford, Chair of the
Olympic Park Legacy Company, hosted a reception for MPs,
peers and members at the House of Lords in recognition of RICS
members’ achievements.
– and our members’ lead role in it – received extensive media
new Industry Framework for pub companies will specify that all rent
review assessments must comply with RICS guidance and that rent
assessments for new Full Repairing and Insuring leases must be
signed off by an RICS qualified individual.
RICS was invited to join the Scottish Government’s Regeneration
Strategy Implementation Group which is led by Alex Neil, Cabinet
Secretary for Infrastructure and Capital Investment. The group will
be responsible for delivering the Government’s regeneration strategy.
Consumer group Which? recommended in its Which Money?
structural surveys.

Our presence in Brazil enhanced
2012 Legacy
The wealth of knowledge and expertise
RICS members have in the delivery of major
construction and infrastructure projects made
the London 2012 Olympic and Paralympic
Games the resounding success it was. With Rio
de Janeiro set to host the Olympic Games in
to export the experience and knowledge acquired
during the preparation for London 2012 and its
subsequent regeneration legacy.
Mission to Brazil
accompanied Prime Minister David Cameron
influential delegation of 30 business leaders
and RICS was the only professional body to be
represented, further demonstrating recognition
of our standards on a global platform. He
used the trip to champion British property and
Government has made significant long-term
commitment to infrastructure spending across
road, rail, air and sea projects. Sean attended
on public private partnerships (PPP) and
infrastructure where he presented a copy
of RICS’ global PPP research.
Training the profession
Our training offering to our members went
from strength to strength this year and saw
an increase in the demand for our services by
face to face and distance learning courses for
market has real demand for professional training
programmes and our training products enable
practitioners to learn about global best practices.
The world’s largest real estate firms, Cushman
to provide in-house technical training for their
to include a range of professional disciplines.
Establishing regional capabilities
We are supporting the global expansion of
and skills to the local talent by embedding
our standards and skills in the region through
education, training, academia, research and
business development. The establishment of
our standards, in line with international best
opportunities for inward investment from the
RICS Annual Review 2011/2012 17

Provide
professionals
with leading
edge products,
services and
information
To underpin the growth of the profession and the establishment
of RICS in the major economic and political centres, we invest
in the development of professional guidance, training and
information, equipping our members to grow their technical
and professional knowledge and skills.
42
technical
guides
produced in 2011/2012

Focus on ethics
The global financial and economic crisis has revived demand for
ethical practice. We constantly meet governments and end users
who are looking for confidence, certainty and integrity. RICS ethical
standards form the basis of all of RICS professional guidance and
practice statements. This year we have focused on simplifying
and promoting our ethical principles, making them relevant and
applicable across markets. Our five ethical standards are:
We have developed a toolkit to help members apply these
standards in their day to day work. The principles and
supporting material will be available in eight different languages.
RICS Annual Review 2011/2012 19

Professional standards and guidance
During the year we produced 42 practice statements, guidance
notes and information papers to provide our members with relevant
technical material to enable them to carry out their work.
Practice standards
Real estate agency and brokerage standards, 1st edition (Italian)
Real estate agency and brokerage standards, 1st edition (Dutch)
Real estate agency and brokerage standards, 1st edition (French)
Real estate agency and brokerage standards, 1st edition (Chinese)
Real estate agency and brokerage standards, 1st edition (German)
Commercial real estate agency standards
Red Book 8th edition
Application of the Red Book in the US
Red Book translation (Chinese)
Red Book translation (Italian)
Red Book translation (German)
Valuation for secured lending in Italy – Italian Red Book chapter
Residential Markets Rents (RB UKVS)
Methodology to calculate embodied carbon
Guidance notes
Negotiating terms for options and leases
Cost analysis and benchmarking (Black Book)
Damages for delays to completion (Black Book)
Conflict avoidance and dispute resolution in
construction (Black Book)
Retention (Black Book)
Subsidence in relation to insurance claims
Party walls
Commercial property management
Blue Book
Asbestos 3rd edition
Surveyors acting as expert witnesses (addendum)
French Valuation of OPCIs
Forced Sale GN – Netherlands
Conflicts of interest
Managing the design delivery, 1st edition
NRM 1 – Order of cost estimating and cost planning for
capital building works 2nd editon
NRM 2 – Detailed measurement for building works
Dilapidations
Residential Property Valuation Ireland
Valuation of individual new build homes
Sports ground certification
Information paper
Sustainability in residential property valuation
Rare earth metals
Flat roof covering
Facilities management information and
data management
Comparable evidence
Japanese Knotweed and residential property,
1st edition
Valuations of hotels
Valuation of renewable energy installations
Valuation of independent healthcare properties
in the UK
Equality, inclusion and the built environment:
A glossary of terms
Public sector property asset management
guidelines, 2nd edition
User guides
Valuation certainty
Residential markets rents

New ways to join the profession
First pathway in 10 years launched
RICS launched its first new pathway in almost 10 years in January
2012. Developed in response to market feedback and member
pathway available across all chartered routes to membership.
AssocRICS
RICS’ newest qualification provides an opportunity for those without
a degree who have relevant work experience to become an RICS
Associate – AssocRICS. We launched a new pathway for Land
for Associate membership in June. The pathway is for candidates
working in the environmental, minerals and waste management,
planning and development, and rural sectors. A new real estate
agency pathway was also launched, covering commercial,
residential and mixed use properties, for countries where there are
currently no established qualifications in this area of the property
profession. The Associate grade of membership launched in
Oceania and the Americas in October 2011.
Professional Experience Route
The new professional experience route to membership launched
globally in October 2011 following a six month pilot with firms
offers experienced property professionals the opportunity to gain
recognition and enhanced status with a world class professional
qualification. By the end of the year professional experience route
rate – 12% higher than the average for other routes to membership.
Promotional and development work for the route is underway
Malaysia and Thailand with assessor training in these countries
in the pipeline.
RICS Fellowship
The new fellowship scheme was launched at the beginning of April.
The new, simplified system sets out 17 characteristics that RICS
expects to see from someone aiming to become a Fellow of RICS.
Information products
provides the latest international and regional news and views, expert
advice an in-depth features tailored specifically for the Americas
read publication for members and stakeholders across the western
hemisphere, and following a successful publication of the first
Modus, the quarterly pan-American edition will now be published
Developing BCIS
tender from the Australian Federal Government to host, maintain
and commercialise Cost Analysis Model for the Building the
The tender enables us to establish our Building Cost Information
Service (BCIS) in the region and through data collected over the
lifetime of the project we will be able to develop services and
commercial offerings across Oceania.
Evolving DRS
Our dispute resolution services (DRS) gained success in Oceania.
DRS now operate in every state and territory in Australia after
the Deputy Premier of South Australia approved our application
to appoint adjudicators under the South Australia security of
payment legislation. RICS is the only alternative dispute resolution
(ADR) provider to have national authority to appoint adjudicators.
Meanwhile in Dubai and South Africa an ADR initiative (including
mediator training) is successfully underway.
First new pathway in
10 years launched
RICS Annual Review 2011/2012 21

Wholly devoted to
corporate responsibility
Be recognised
as a leader in
‘responsible
business’
practices
Responsible action is at the heart of everything we do at
RICS. As a global professional body governed by a Royal
Charter requiring us to promote the public interest, RICS
is – by definition – wholly devoted to corporate responsibility.
UN Global Compact
principles has provided us with an ideal framework for
understanding challenges and opportunities on the way to
demonstrable leadership as a responsible business. We
the Children consultation on Children’s Rights and Business
Principles in March and as a signatory to the Internships
Code of Best Practice we stressed the importance of young
workers’ rights in our sector.
We were commissioned by the Food and Agriculture
on how to mainstream leading academic institutions in
the implementation of the voluntary guidelines on the
responsible governance of tenure of land, forests and
fisheries in the context of food security.
Sustainable Buildings Climate Initiative) forming the basis
for closer collaboration in the future.
Embedding sustainability in land, real estate
and the built environment
Initiative) announced alignment of goals in order to
integrate sustainability principles into valuations and
decisions about investment.

a series of well-attended conference sessions on energy
efficiency. At the event we launched our draft information
paper on measuring embodied carbon and new research
the commercial value in building the sustainability lifecycle.
We presented a paper on sustainability at the British Council/
project which sees RICS develop training material advising
the energy efficiency of their buildings.
Sustainability in Australia
government tender to produce a guide for small and medium
enterprise tenants to assist them to understand the potential
energy savings in their leased premises.
Property (Australia) course notes. The notes (an Australian first)
set a benchmark for valuers in Australia looking to value the
sustainability of existing buildings.
recognises RICS’ contribution to property research and to the
property profession through the region.
Community activity
Disaster Management Commission (DMC)
Created in the aftermath of the 2004 Asian tsunami, the
built environment volunteers. Bringing the skills and technical
knowledge of RICS members to strengthen capacity of
communities threatened by natural and manmade disasters
remains at the heart of the DMC’s work.
The Malawi Government approved DMC’s project proposals
to review and revise newly drafted guidelines for safer house
construction in the country.
the need for greater involvement of land and construction
professionals in post-disaster reconstruction. The event
and International Red Cross officials as well as key players
working with the governments of Pakistan, Malawi and Haiti.
Charity Property Help
Charity Property Help provides free support and guidance on
through a one hour free consultation session with an RICS
regulated firm. During 2011/2012 Charity Property Help assisted
their services to the scheme, taking the total number of registered
Chartered Surveyors Voluntary Service
surveyors provide advisory services on a range of issues through
Professions for Good
We hosted the launch of Professions for Good (P4G) Social
Mobility Toolkit in February which equips employers, professional
bodies and regulators to measure and promote greater social
mobility. RICS is a founder member of P4G, a group of leading
Employee engagement
£3 500 raised for
corporate charity
Giving something back
We recognise that working with local communities can drive
employee engagement. All RICS employees continue to be eligible
for one paid day off per year to take part in volunteering activities
arrange to support a charity or community group of their choice,
doubled in the year with 100 days being taken by employees.
Corporate affiliation with an international charity
In March we signed a partnership with WaterAid to be our
corporate charity. The start of the three year relationship
saw May designated as RICS volunteering month where
employees from across the world participated in local events
for fundraising activities for WaterAid and other charities close
to employees’ hearts. By the end of August we had raised
A great place to work and a highly engaged workforce
RICS retained One to Watch status in the annual Best Companies
employee survey. Best Companies, the independent firm that
conducts the employee survey, found that even though the global
economic climate had affected all firms’ results, RICS managed to
buck the trend, as overall it did not see a drop in its scores across
the eight factors that are measured.
RICS Annual Review 2011/2012 23

Make RICS more
agile to take
advantage of new
opportunities
To underpin the growth of the profession and the establishment of RICS in
our target markets we are investing in our business development capabilities.
Digitally advanced
A clearer, smarter and faster website was launched following a major
programme of investment in our digital capability. The new rics.org allows
easier navigation, better networking and simple access to news, knowledge
and standards. Above all it provides our members with a platform to help
them at each stage of their professional life. Members are able to register
and build their online profile, promote their expertise, appear in searches,
manage their topics of interest and communication preferences, record
their CPD and find out what is happening in their area.
RICS Recruit moved to a new upgraded platform on schedule in March and
now has ecommerce capabilities, is compatible for use on mobile phones,
provides users with more control of their profiles and has recruiter services.

Online self-management of CPD
RICS members constantly seek knowledge and told us that they want it to be
easier to complete and manage their continuing professional development (CPD)
– and for it to be simpler to demonstrate compliance. Having listened to this
feedback, a new policy and set of rules have been approved by Governing
Council to take effect from 1 January 2013 to demonstrate members’ professional
and ethical competence and compliance with RICS standards.
The new CPD rules
From 1 January 2013 all members must:
of ethical practice during a rolling three year period.
We will be making sure all members understand these new provisions
through extensive communications during 2012/2013.
Connecting locally and globally
By the end of the year our corporate Twitter account had over 20 000 followers.
The account, which attracts on average seven new followers per tweet, is a
heavyweight in the property and construction industry’s social media community,
out-ranking trade media titles. We are now tracking 600 chartered surveyors and
surveying firms on Twitter, enabling users to see in an instant what chartered
surveyors across the world are tweeting.
RICS’ corporate LinkedIn account had over 27 000 members by the end of the
year. The group is open to all property professionals and provides a platform for
intelligent debate and knowledge sharing amongst peers.
Online Academy
At the end of July we had nearly 13 000 registered web class users (low cost
online live training sessions) from more than 90 countries that had enrolled on
more than 2 200 courses as part of our Online Academy offering.
20 000
Twitter followers
27 000
LinkedIn followers
13 000
registered on our Online Academy
RICS Annual Review 2011/2012 25

RICS
membership
Building the status and recognition of the profession depends
on growing our membership to achieve critical mass. In this way
we embed standards, trust and confidence in our markets.
Total number of RICS members by world region
2 704
9 668
7 114
Americas Asia Europe
Members Members Members
5% 10.5% 10%
Increase Increase Increase
As at end 31 July 2012

617
Total membership
3 601
FRICS 20 050
MRICS 73 729
AssocRICS 2 772
Trainees 17 909
2 651
88 105
India MEA Oceania UK (including Ireland)
Members Members Members Members
19.6% 7% 12% 0.6%
Increase Increase Increase Increase
Total number of RICS members by world region
FRICS MRICS AssocRICS Trainees
Americas 815 1 676 29 1 842
Asia 763 6 855 185 1 865
Europe 761 4 787 17 1 549
India 72 496 1 48
Ireland 415 1 679 224 31
MEA 404 2 305 104 788
Oceania 438 1 717 27 469
UK 16 382 54 214 2 185 12 975
RICS Annual Review 2011/2012 27

Membership
growth
RICS designations
FRICS – Fellow of RICS
A prestigious award – only members who are high achievers in
their careers may apply to become a fellow. They will be leaders;
active people who have completed unique projects or contributed
to the profession.
MRICS – Member of RICS
For members who have undergone a period of rigorous
study and training. RICS membership is only awarded to
those who are prepared to maintain exemplary standards
– for the public advantage.
AssocRICS – Associate of RICS
AssocRICS is a non-chartered grade for technical and support
staff working in the land, property and construction sectors.
The entry-level grade offers members a progressive,
non-graduate route to chartered status.
Five year trend in membership growth
Year end FRICS MRICS AssocRICS Trainees Total
July 2012 20 050 73 729 2 772 17 909 114 460
July 2011 20 214 72 027 2 420 16 950 111 611
July 2010 20 622 69 846 2 185 16 469 109 122
July 2009 21 043 67 789 2 182 16 760 107 774
July 2008 21 415 65 351 2 252 15 971 104 989
12 10
11

09
08
FRICS
12
12
11
11
10
09
08
10
08
12
10
09
09
11
08
MRICS
AssocRICS
Trainees
RICS Annual Review 2011/2012 29

Group Financial Statements
as at 31 July 2012
Principal activities
The principal activities of the Group include setting professional standards, including those for admission to membership,
the maintenance of members’ professional competence, the regulation and standards of practice, providing information
and the promotion of the profession.
The Group funds its activities through an annual professional membership subscription, regulatory fees and income
from commercial services such as learning events and software applications.
Overall financial performance
The Group has undergone a period of prudent investment aimed at accelerating its long-term vision. As such it is
prepared for a period of controlled financial deficits over the next few years before it expects to see a return on these
investments and return to operating at close to break-even. The operating result for the year was a deficit of £1,814,000
(£2,622,000 in 2010/2011). Additionally, the Group crystallised a gain of £2,500,000 on the disposal and reinvestment
of the Group’s investment portfolio following the transfer of its management.
Outside the UK, membership subscriptions grew by almost £1,000,000, this increase was primarily generated by a growth
in membership of nearly 2 000 with the strongest growth coming from North Asia and Europe. Total subscription income
for the Group grew from £36,580,000 in 2010/2011 to £38,050,000 in 2011/2012.
In accordance with the Group’s adopted accounting policies, Red Book revaluations were undertaken of the properties
in London and Edinburgh. As a result there has been an uplift in the carrying values of these assets at the end of the
financial year.
RICS reserve levels continue to be maintained at a level in accordance with the reserves policy agreed by
RICS Finance Committee.
Despite the challenges of the economic environment the Group has delivered favourably against its business plan.
The Group remains hopeful that this momentum may be carried forward whilst at the same time leveraging the investment
in technology to produce continued operational efficiencies.
The following pages show the Group Income Statement, Group Balance Sheet, Group Cashflow Statement, Notes to the
Summary Financial Statements and a report from the Group Auditors. The pages have been extracted from the audited
financial statements for the year ended 31 July 2012. The full accounts can be found in the RICS Annual Review and
Financial Statements 2012.
Total Income
2011 =
43 136M
2012 =
48 177M

Group Income Statement
for the year ended 31 July 2012
31 July 2012 31 July 2011
Note Income Expenditure Total Total
£’000 £’000 £’000 £’000
Income and direct costs
Professional subscription and entry fees 41,722 (991) 40,731 39,188
Learning, professional development & other member services 20,079 (14,621) 5,458 3,948
Total income and direct costs before exceptional item 61,801 (15,612) 46,189 43,136
Exceptional item 2 1,988 - 1,988 -
Total income and direct costs after exceptional item 63,789 (15,612) 48,177 43,136
Key activities and services
Creating and enforcing professional standards - (9,003) (9,003) (7,297)
Gaining influence and building brand profile - (7,610) (7,610) (7,917)
Regional and local service provision - (14,522) (14,522) (13,457)
Technology development - (400) (400) (1,071)
Legal and governance - (3,235) (3,235) (2,694)
Technology operations - (4,459) (4,459) (4,673)
Property operations and lifecycle maintenance - (2,070) (2,070) (2,174)
Finance operations and ongoing compliance - (2,586) (2,586) (2,558)
Depreciation and amortisation - (1,893) (1,893) (2,032)
Central activities - (4,058) (4,058) (1,419)
Total expenditure on key activities and services - (49,836) (49,836) (45,292)
Other costs
Charitable trusts and donations - (134) (134) (123)
Refurbishment of property at Parliament Square, London - (3) (3) (329)
Deficit on foreign exchange - (18) (18) (14)
Total other costs - (155) (155) (466)
Operating result 63,789 (65,603) (1,814) (2,622)
Surplus/(deficit) on sale of fixed assets 326 - 326 (176)
Result before interest and taxation 64,115 (65,603) (1,488) (2,798)
Investment income 520 - 520 551
Other interest receivable and similar income 540 - 540 414
Result before taxation (428) (1,833)
Taxation (charge)/credit (1,213) 970
Net deficit for year after taxation 3 (1,641) (863)
Consolidated Note of Historical Cost Surpluses and Deficits 31 July 2012 31 July 2011
for the year ended 31 July 2012 Note Total Total
£’000 £’000
Reported deficit for the year before taxation (428) (1,833)
Realisation of investment revaluation 2,190 -
Historical cost surplus for the year before taxation 1,762 (1,833)
Historical cost surplus/(deficit) for the year after taxation 3 549 (863)
All activities have arisen from continuing operations.
These summary financial statements were approved by the Management Board on 22 November 2012 and were signed
on its behalf by James Carter, Chairman of Management Board and Sean Tompkins, Chief Executive Officer.
These summary financial statements are only a summary of the information, relating to the income statement, note of historical
cost surpluses and deficits, balance sheet and cashflow statement contained in the consolidated Annual Review and Financial
Statements and are not statutory accounts. A copy of the full annual report and financial statements can be viewed online at
http://www.rics.org/aboutus
The full Annual Review and Financial Statements for the year ended 31 July 2012 was subject to audit and the Auditors’ report
was unqualified. The full financial statements were approved by the Management Board on 22 November 2012 and were signed
on its behalf by James Carter, Chairman of Management Board and Sean Tompkins, Chief Executive Officer.
RICS Annual Review 2011/2012 31

Group Balance Sheet
as at 31 July 2012
31 July 2012 31 July 2011
Note Total Total
£’000 £’000
Fixed assets
Intangible assets 54 62
Tangible assets 29,193 26,940
Listed and unlisted investments 24,020 24,613
Current assets
53,267 51,615
Stocks 454 391
Debtors 6,171 7,679
Short term investments 492 3,309
Cash at bank and in hand 143 2,937
7,260 14,316
Creditors:
Amounts falling due within one year (30,362) (31,118)
Net current liabilities (23,102) (16,802)
Total assets less current liabilities 30,165 34,813
Creditors:
Amounts falling due after one year (87) (1,171)
Provisions for liabilities (19) (10)
Net assets before pension (liability)/asset 30,059 33,632
Pension (liability)/asset (4,004) 3,047
Pension (liability)/asset 26,055 36,679
Reserves
General reserves 3 24,307 34,912
Restricted reserves 3 1,748 1,767
Net assets 26,055 36,679
There is no share capital since the constitution of RICS is that of a body corporate under Royal Charter.
Fixed assets
2012
54
£’000
£’000
Intangible assets
29,193 24,020
£’000
£’000
Tangible assets
£’000
2011 62 26,940 24,613
£’000
Listed and unlisted
investments
=
3.2%
increase

Group Cashflow Statement
as at 31 July 2012
31 July 2012 31 July 2011
Total Total
£’000 £’000
Net cash outflow from operating activities (3,033) (1,582)
Returns on investments and servicing of finance 1,060 965
Taxation - (118)
Capital expenditure and financial investment (3,638) (803)
Net cash outflow before use of liquid resources and financing (5,611) (1,538)
Management of liquid resources 2,817 1,884
(Decrease)/increase in cash in the year (2,794) 346
Reconciliation of net cash flow to movement in net funds
(Decrease)/increase in cash in the year (2,794) 346
Cash outflow from decrease in liquid resources (2,817) (1,884)
Changes in net funds resulting from cash flows (5,611) (1,538)
Effect of foreign exchange rate changes - 33
Movement in net funds in the year (5,611) (1,505)
Net funds at 1 August 6,246 7,751
Net funds at 31 July 635 6,246
Returns on investments and servicing of finance
2011 =
965,000
2012 =
1,060,000
RICS Annual Review 2011/2012 33

Notes to the Summary
Financial Statements
as at 31 July 2012
1. Basis of preparation
The financial statements have been prepared in accordance with United Kingdom Generally Accepted Accounting Practice
under the historical cost convention, as modified by the revaluation of fixed asset investments and freehold land and buildings
to market value at the balance sheet date. The presentational requirements of the Companies Act 2006 have been applied
where applicable on a voluntary basis, as this is not a statutory requirement due to the Royal Charter status of RICS.
2. Exceptional item
The Exceptional item relates to a review of the recognition of Assessment of Professional Competence (APC) revenue.
Following review, the Group considers APC revenue to be more appropriately recognised in the period of invoice as although
not all obligations are fulfilled at this point, any remaining unfulfilled obligations are immaterial from a Group perspective.
In the prior year an element of APC income was recognised in the period of invoice, with the remaining income being deferred
until specific services were provided. The deferred income was recorded in the balance sheet within creditors.
As a result of this change in treatment, the Group result before taxation has been increased by £1,187,000 relating to the
release of deferred income brought forward from the previous accounting period and revenues of £801,000 relating to new
APC registrants that would have been deferred under the old estimation approach. Both of these amounts have been
included in the current year as an Exceptional item.
3. Reserves
Revenue reserves £’000 £’000
At 1 August 2011 5,775
Deficit on activities after taxation for the year (1,641)
Transferred from other reserves - crystallised investment revaluation surplus 2,190
Recognised surplus for the year 549
Transferred to other reserves (35)
Other recognised gain - reversal of deferred tax 1,070
Other recognised deficit - pensions (9,634)
At 31 July 2012 (2,275)
Other general reserves
Revaluation
reserve
£’000
Premises
reserve
£’000
Clients Money
reserve
£’000
Translation
reserve
£’000
Investment
revaluation
reserve
£’000
At 1 August 2011 16,522 6,019 1,609 671 4,316 29,137
Revaluation surplus/(deficit)
Transferred to other reserves -
400 - - - (880) (480)
crystallised revaluation surplus - - - - (2,190) (2,190)
Retranslation - - - 61 - 61
Transferred from other reserves - (3) 57 - - 54
At 31 July 2012 16,922 6,016 1,666 732 1,246 26,582
Total general reserves 24,307
Restricted reserves
Member
Support
Service Other Total
£’000 £’000 £’000
At 1 August 2011 1,096 671 1,767
Transferred from other reserves (19) - (19)
At 31 July 2012 1,077 671 1,748
Total
£’000

Independent Auditors’
Statement to the Governing
Council of the Royal Institution
of Chartered Surveyors
To the Members of the Royal Institution of Chartered Surveyors (‘RICS’)
We have examined the summary financial statements for the year ended
31 July 2012 set out on pages 31-34.
Respective responsibilities of the Management Board and auditor
The Management Board is responsible for preparing the summary consolidated
income statement, summary consolidated balance sheet and summary consolidated
cashflow in accordance with applicable United Kingdom law.
Our responsibility is to report to you our opinion on the consistency of the summary
financial statements within the annual review with the full annual financial statements.
We also read the other information contained in the annual review and consider
the implications for our report if we become aware of any apparent misstatements
of material inconsistencies with the summary financial statements.
Our report has been prepared pursuant to the requirements of the Royal Charter and
for no other purpose. No person is entitled to rely on this statement unless such a person
is a person entitled to rely upon this statement by virtue of and for the purpose of the
Royal Charter or has been expressly authorised to do so by our prior written consent.
Save as above, we do not accept responsibility for this statement to any other person
or for any other purpose and we hereby expressly disclaim any and all such liability.
Basis of opinion
We conducted our work in accordance with Bulletin 2008/3 ‘The Auditors’ Statement
on summary financial statements in the United Kingdom’ issued by the Auditing
Practices Board. Our report on RICS’ full annual financial statements describes
the basis of our opinion on those financial statements and on the annual review.
Opinion
In our opinion the summary financial statements are consistent with the full annual
financial statements and the annual review of the Royal Institution of Chartered Surveyors
for the year ended 31 July 2012.
We have not considered the effects of any events between the date on which we signed
our report on the full annual financial statements on 30 November 2012 and the date
of this statement. statement.
Andrew Stickland
For and on behalf of BDO LLP, statutory auditor
Gatwick
United Kingdom
04 December 2012
BDO LLP is a limited liability partnership registered in England and Wales
(with registered number OC305127).
RICS Annual Review 2011/2012 35

RICS
governance
structure
RICS’ strategic direction is set by Governing Council incorporating
the leadership team and member representatives from across
the world.
The Council, chaired by RICS’ President, is supported by a
number of groups and boards, populated by around 1 000
active members, RICS staff and ‘lay’ (non) members. These
include world regional boards, national councils, 17 specialist
professional group boards, policy committees and boards,
covering membership, communications, knowledge and the
arm’s length Regulatory Board.
Knowledge
Board
World
Boards
Communications
Board
Regulatory
Board
The arm’s length Regulatory
Board reports solely to Governing
Council on its activities
Membership
Board

Privy
Council
Grants and awards
Royal Charter
Governing
Council
Management of Royal Charter
obligations, setting direction
and strategy
Audit
Committee
Finance
Committee
Business
Development
Board
Management
Board
Day-to-day performance and
delivery of the business plan
Remuneration
Committee
RICS Annual Review 2011/2012 37

RICS
management
structure
Leadership Team President Alan Collett FRICS
(2012/2013 financial year)
Honorary Secretary Robert Mahoney FRICS
Honorary Treasurer Bill Gater FRICS
Governing Council members
(2012/2013 financial year)
Ruth Adams FRICS Don Hyslop FRICS
Justin Armstrong MRICS Henry Li FRICS
Christopher Baker FRICS Sophie Llewellyn MRICS
Nick Barr FRICS Gareth Owain Llywelyn FRICS
Tony Brasier FRICS Colin McCarthy FRICS
Meka Brunel MRICS David McCullogh FRICS
Luciano Capaldo FRICS Ian McRae FRICS
Bryan Carsberg HonRICS Stephen Moore FRICS
James Carter FRICS Gareth Morgan FRICS
Amanda Clack FRICS Richard Moxon FRICS
Adrian Davey MRICS Louise Mumford FRICS
Thomas Dempsey MRICS Ian Potts FRICS
Tom Dunne FRICS Brian Reeves FRICS
Timothy Garratt FRICS Peter Swift FRICS
Mark Gerold FRICS Ramsey Tadros FRICS
Fiona Grant FRICS Tony Towell FRICS
Christopher Green FRICS David Tse FRICS
Ramachandra Haranal FRICS Marna van der Walt FRICS
Michael Henning MRICS Matt Wallace MRICS
Daniel Ho FRICS Megan Walters FRICS
John Hughes FRICS Russell Welsh FRICS
Mark Humphries FRICS David Wilkes FRICS

Management Board Chair James Carter FRICS
(2012/2013 financial year)
RICS non-executive members Richard Cotton FRICS
Philip Lo FRICS
Ian Perry FRICS
Fiona Spencer-Jones MRICS
Independent non-executive members Sarah Blackburn
Penelope Francis
Dennis Heywood
Executive Team
(2012/2013 financial year) Director of Corporate Affairs Gillian Charlesworth
Director of Regulation Steven Gould
Director of Human Resources
and Corporate Responsibility
Alistair Milne (from Nov 2012)
and Corporate Services
RICS Annual Review 2011/2012 39

RICS HQ
Parliament Square
London SW1P 3AD
United Kingdom
Worldwide media
enquiries:
e pressoffice@rics.org
Contact Centre:
e contactrics@rics.org
t +44 (0)2476 868 555
f +44 (0)20 7334 3811
Advancing standards in land, property and construction.
RICS is the world’s leading qualification when it comes to
professional standards in land, property and construction.
In a world where more and more people, governments, banks and
commercial organisations demand greater certainty of professional
standards and ethics, attaining RICS status is the recognised
mark of property professionalism.
Over 100 000 property professionals working in the major established
and emerging economies of the world have already recognised the
importance of securing RICS status by becoming members.
RICS is an independent professional body originally established
in the UK by Royal Charter. Since 1868, RICS has been committed
to setting and upholding the highest standards of excellence and
integrity – providing impartial, authoritative advice on key issues
affecting businesses and society.
RICS is a regulator of both its individual members and firms enabling
it to maintain the highest standards and providing the basis for
unparalleled client confidence in the sector.
RICS has a worldwide network. For further information simply contact
the relevant RICS office or our Contact Centre.
Europe
(excluding United
Kingdom and Ireland)
Rue Ducale 67
1000 Brussels
Belgium
t +32 2 733 10 19
f +32 2 742 97 48
ricseurope@rics.org
United Kingdom
Parliament Square
London SW1P 3AD
United Kingdom
t +44 (0)2476 868 555
f +44 (0)207 334 3811
contactrics@rics.org
Oceania
Suite 2, Level 16
1 Castlereagh Street
Sydney, NSW 2000
Australia
t +61 2 9216 2333
f +61 2 9232 5591
info@rics.org.au
Asia
Room 2203
Hopewell Centre
183 Queen’s Road East
Wanchai
Hong Kong
t +852 2537 7117
f +852 2537 2756
ricsasia@rics.org
Africa
PO Box 3400
Witkoppen 2068
South Africa
t +27 11 467 2857
f +27 86 514 0655
ricsafrica@rics.org
Middle East
Office G14, Block 3
Knowledge Village
Dubai
United Arab Emirates
t +971 4 375 3074
f +971 4 427 2498
ricsmenea@rics.org
Americas
One Grand Central Place
60 East 42nd Street
Suite 2810
New York 10165 – 2811
USA
t +1 212 847 7400
f +1 212 847 7401
ricsamericas@rics.org
Ireland
38 Merrion Square
Dublin 2
Ireland
t +353 1 644 5500
f +353 1 661 1797
ricsireland@rics.org
India
48 & 49 Centrum Plaza
Sector Road
Sector 53, Gurgaon – 122002
India
t +91 124 459 5400
f +91 124 459 5402
ricsindia@rics.org
rics.org
NOVEMBER 2012/ VP/1134IC