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Press release

13 JUN 2022

RICS announce changes to BCIS and SBE partnerships to focus on core purpose

RICS (Royal Institution of Chartered Surveyors) today announces two new partnership arrangements as it focuses on its core services for the public interest and its members.

 

The Building Cost Information Service (BCIS) - BCIS SECURES BACKING FROM LDC

RICS are committed to ensuring that BCIS has the right investment both to grow and improve its service, as well as continuing to be an integral part of the built environment as the go-to source for cost data, underpinning decision making across the construction and real estate sectors.

As such, BCIS, the UK’s leading cost benchmarking and valuation platform for construction, has secured investment from LDC, the private equity arm of Lloyds Banking Group.  The investment will see BCIS, which was first established as a service in 1961 by RICS, become an independent company. RICS will continue to retain a minority shareholding in the company.

BCIS has a critical role across built environment projects, and achieving net zero, and ensuring the right investment will grow its positive role in our sector. RICS will remain a strong supporter of the business, as well as retaining an interest in the business. Data use will continue and the two entities will continue to work in partnership to improve standards in the built environment, address net zero targets and decarbonisation of real estate.

The investment will enable BCIS to further invest in its technology platform and data in order to enhance its services and insight for its customers and BCIS staff will remain within that organisation.

 

The School of the Built Environment - Academic delivery at SBE to be wholly overseen by Amity

Since its inception, The School of Built Environment has delivered specialist programs to students looking for a career in real estate and successfully bridged the skills gap by delivering industry-ready professionals.

RICS has struck a new agreement with Amity regarding the School of Built Environment (SBE) located in Noida and Mumbai. From 1st August, a transfer of operations and assets will see the academic delivery at SBE wholly overseen by Amity – a world-class education provider.

RICS will enjoy an active and involved partnership with Amity through the SBE, continuing to accredit courses, contribute to curriculum development and facilitate links with industry for graduates. All staff will remain in place and students will continue to enjoy the benefits of studying at a prestigious industry-led academic institution.  RICS remains firmly committed to India through a variety of targeted initiatives in place to benefit members and firms in this key market, ensuring a strong platform for future growth.

 

Richard Collins, Interim CEO, RICS, added:

“RICS believe that both BCIS and SBE have important roles to play in the future of this sector.  However, we also believe that both organisations can best develop through dedicated and specialist leadership whilst working in partnership with RICS. This will set both organisations up for success and enable RICS to focus more closely on its core purpose and supporting and developing the profession for the public advantage. 

“These changes have been planned for some time and concluding them now will also enable RICS to focus clearly on any changes arising from Council’s consideration of Lord Bichard’s recommendations.”

RICS has today also published the latest report and accounts which can be accessed here.

 

ENDS

Notes to Editors:

BCIS supports approximately 4,000 customers across the construction, facilities management and insurance sectors, providing access to the industry’s most comprehensive data sets on building costs and rates.

About RICS

We are RICS. Everything we do is designed to effect positive change in the built and natural environments. Through our respected global standards, leading professional progression and our trusted data and insight, we promote and enforce the highest professional standards in the development and management of land, real estate, construction and infrastructure.

Our work with others provides a foundation for confident markets, pioneers better places to live and work and is a force for positive social impact.

FOR MORE INFORMATION:

Email: press@rics.org

We are RICS

Everything we do is designed to effect positive change in the built and natural environments.

Through our respected global standards, leading professional progression and our trusted data and insight, we promote and enforce the highest professional standards in the development and management of land, real estate, construction and infrastructure.

Our work with others provides a foundation for confident markets, pioneers better places to live and work and is a force for positive social impact.

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