The valuation and general practice (VGP) division of the Singapore Institute of Surveyors and Valuers (SISV) will be spun off into an independent professional body known as SISV RE.

The split, which follows a resolution passed at an SISV extraordinary general meeting held on June 20, is subject to approvals from the Registry of Societies and the Accounting and Corporate Regulatory Authority.

SISV is the national professional body for surveyors and valuers in Singapore. Currently, the VGP division is one of three divisions under SISV, the other two being land surveying and quantity surveying.

“Independence gives us the agility to innovate, the freedom to be more inclusive, and the platform to elevate the VGP profession to its rightful place in Singapore's evolving economy,” says Dr Lim Lan Yuan, president of the VGP division.