Building Insurance Valuation Report

Building Insurance Valuation Report - La Riviera Tower Services Posted On: June 30, 2025 Closing On: July 8, 2025JOB REFERENCE: JB004-25-02039Project Title: Building Insurance Valuation – La Riviera Tower Location: Jumeirah Beach Residence (JBR), Dubai Structure: 3 Basements + Ground + 37 Floors + Roof Usage: Residential Tower with Retail and Parking To conduct a comprehensive Building Insurance Valuation Report to determine the accurate current reinstatement/replacement cost of La Riviera Tower. The valuation must be suitable for insurance underwriting purposes and comply with RERA, Dubai Civil Defense, and applicable UAE regulations , ensuring the building is adequately insured against various risks. Scope of Work: A. Site Observation and Limited Document Review; Conduct a comprehensive site survey and physical inspection covering: Structural elements (substructure and superstructure).MEP systems (HVAC, electrical, plumbing, drainage).Fire and life safety systems.Façade, waterproofing, external works, and parking areas.Common area finishes and FF&E.Review any available records such as previous reports, maintenance logs, or design data (if available). In the absence of documents, the valuation must be based on: Visual inspections.Professional judgment.Market-standard unit rates and cost assumptions relevant to Dubai.B. Valuation Calculation – Replacement Cost Calculate the full replacement/reinstatement cost , excluding land value. Include: Structural works.MEP reinstatement.Façade and waterproofing.Firefighting and safety systems.External works (landscape, boundary walls, paving, parking areas).Common area FF&E.Demolition, debris removal, and site clearance.Professional fees (architectural, engineering, approvals).Contingency allowance (5–10%).C. Valuation Rationale and Compliance;Document the rationale behind the valuation including: Cost methodology used.Market data references and benchmarks.Assumptions made in the absence of documents.Ensure compliance with: RERA Article (41) – Insurance requirement for jointly owned properties.Dubai Civil Defense compliance criteria.General insurance industry best practices for reinstatement valuations.D. Risk Assessment Coverage; Ensure the valuation covers risks such as: Fire.Explosion.Flood.Storm and weather-related damages Structural failure.Natural disasters.The assessment should evaluate how these risks may affect the building's condition, safety, operational continuity and asset valuation. E. Reporting and Submission; Submit a detailed report including: Valuation methodology and assumptions.Full component-wise cost breakdown.Recommended total sum insured.Certification for insurance underwriting purposes.Deliver reports in both PDF and editable Excel formats Deliverables: Building Insurance Valuation Report (PDF + Excel).La Riviera Tower Mixed Use Dubai Marina, Dubai, United Arab Emirates Map data 2025 Terms#J-18808-Ljbffr