Property Management Regulatory Authority marks 10th anniversary

The Office of Property Management Services Regulatory Authority (OPMSR) and the Home Affairs Department held a summit to mark the 10th anniversary of the regulatory body. The forum focused on the concept of ‘smart property management,’ aiming to integrate innovative technologies into the industry to enhance service levels and professional standards.

Over the past decade, the Authority has issued more than 850 property management company licenses and over 22,000 individual practitioner licenses. To support professional growth, the Authority has established 24 codes of conduct and 27 good practice guidelines. Since August 2023, participation in a continuous professional development program has been mandatory for all new and renewed practitioner licenses.

Looking forward, the Authority announced plans to establish a professional property management academy, expected to begin operations early next year, to provide systematic training. Additionally, officials emphasized the importance of adopting smart technologies and maintaining rigorous regulatory standards to meet increasing community and building management demands.