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Case Study: Comprehensive Valuation, Structural Integrity Survey, and Age Determination for Etisalat Academy by Credence & Co.

Client Overview:

Etisalat &, a leading telecommunications company in the United Arab Emirates, engaged Credence & Co., a renowned valuation and inspection firm, to conduct a comprehensive evaluation, structural integrity survey, and the remaining age determination of the Etisalat Academy Building. The purpose was to assess the physical condition and determine the academy buildings' market value and remaining useful life.

The Challenge:

Understanding the comprehensive needs of Etisalat, including physical assessment, valuation, and future viability analysis, required a multifaceted approach. The challenge was to integrate these elements seamlessly to provide a holistic view of the Etisalat Academy Building.

Scope:

The expanded scope of the report included:

I. Detailed Physical Inspection:

  • In-depth examination of the building's condition, covering Civil, MEP (Mechanical, Electrical, Plumbing), and HVAC (Heating, Ventilation, and Air Conditioning) aspects.

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II. Structural Integrity Assessment:

  • Validate the structural integrity and strength to ensure the buildings are in good condition.

  • Assessment of the remaining useful life from a structural perspective.

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III. Determination of Remaining Useful Life:

  • Detailed analysis to determine the remaining useful life of the buildings.

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IV. Valuation of the Academy Building:

Comprehensive market valuation of the Etisalat Academy building to determine its current market worth by applying the Depreciated Replacement Cost DRC approach for Buildings and structures as per the international valuation standards IVSC for the land.

 

V. Operational Sustainability:

  • Conclusion: How long can the building sustain operations without major repairs or maintenance.

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VI. Reference to External Studies:

  • Sharing extracts from studies on the useful life of buildings conducted by reputable international organizations.

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VII. Extracts from Previous Assignments:

  • Sharing relevant extracts from Credence & Co.'s previous similar assignments regarding the remaining useful life of buildings and structures.

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Standards Followed:

To ensure a comprehensive and standardized approach, Credence & Co. adopted the following standards:

  • InterNACHI (International Association of Certified Building Inspectors):

    • Multinational and culturally diverse environments within the UAE were addressed through this widely recognized standard of practice.

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  • ASHRAE Guidelines:

    • The American Society for Heating, Refrigeration, and Air-Conditioning Engineers' guidelines were employed to inspect the HVAC system.

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  • NFPA and Other Internationally Recognized Organizations:

    • Adherence to standards from the National Fire Protection Association and other relevant internationally recognized inspection organizations.

Adopted SOP:

Credence & Co. conducted a non-invasive visual examination of the buildings, covering mechanical, structural, electrical, plumbing, and other essential systems. The inspection aimed to evaluate the overall condition on the inspection date, focusing on observed material defects rather than predicting future conditions.

Components Inspected

  • Exterior & Structural

  • Interior (including 10% random samples of individual units)

  • MEP Elements (Cooling systems, mechanical ventilation, conveyancing systems, control panels, water tanks, pipes, power supply, information and telecommunications systems, etc.)

  • Water Leak and Moisture Intrusion (using infrared, thermal imaging cameras, and moisture meters)

Equipment Used:

  • Moisture Meter

  • Infrared Camera for Thermal Imaging (FLIR, E6, 9 Hz Frame rate, -4 to 482F Temperature range, 19,200 Pixel Resolution)

Deliverables:

  • The inspection report provided a detailed description and identification of the inspected systems, structures, and components, including observed material defects. Recommendations for correction, monitoring, or further evaluation by professionals were included in the report.

 

  • Additionally, Credence & Co. delivered a comprehensive market valuation of the Etisalat Academy building, offering insights into its current market worth and remaining useful life. This holistic approach provided Etisalat with a thorough understanding of the physical condition, structural integrity, market value, and future viability of their Academy building.

Top 3 Takeaways:

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  • Comprehensive Inspection: A non-invasive visual examination covering mechanical, structural, electrical, and plumbing systems, ensuring a detailed understanding of the building's condition.

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  • Market Valuation Expertise: Application of the Depreciated Replacement Cost approach for Buildings and structures, following international valuation standards, provided a precise Etisalat Academy Building market valuation.

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  • Holistic Insights: The combined assessment offered Etisalat a comprehensive understanding of the physical condition, structural integrity, market value, and future viability of the Academy building, aiding informed decision-making.

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This collaborative effort between Etisalat and Credence & Co. showcased the efficacy of a unified approach to building assessment, delivering valuable insights for strategic planning and maintenance.

For your real estate and property inquiries, please get in touch with us at 

📞 Dubai: +971 (52) 129 2768 

📞 Abu Dhabi: +971 (58) 985 5344 

📞 Muscat: +968 (9) 727 2444

📧 Email: info@cnco.ae

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