According to FIABCI-Malaysia honorary treasurer Yeow Thit Sang, as a result of more buildings around, this year’s contest has a whopping 45 entries compared with last year’s 39 and 30-odd in 2004.

Introduction:

• This FIABCI Property Awards was initiated 15 years ago during the Asian financial crisis and the property development sector was in a “down cycle”.

• An objective of the Malaysia Property Awards is to select the country’s entries to the world “Prix d’ Excellence” awards presented at the FIABCI World Congress. The participants comprise anyone within the real estate life cycle, from architects to marketing agents,

• The FIABCI association is a special consultant with NGO status at the Economic and Social Council of the United Nations.

Benefits that might derived from FIABCI Award:

• The Malaysia Property Award and the Prix d’ Excellence were highly sought after because of its award’s transparency as the award criteria has become more comprehensive together with the appointment of independent judges from outside of the close knit industry;international firms and foreign partners have sought many past winners for joint projects both locally and abroad and for branding opportunities in terms of retail sales

Other details:

• For innovative concepts, the recent years have seen more emphasis on “green” or environmentally friendly concepts. One example is the Setia Eco Park Development by SP Setia Bhd, which won the master plan category and low-rise development categories at the Malaysia Property Awards 2006. Also, Setia Eco Park was the winner of Prix d’ Excellence Award 2007 in the master plan category.

• Another innovative concept that is surfacing in the Malaysian property sector is social redevelopment.An example is YTL Land & Development Bhd’s development of the Sentul East commercial and residential township and the Sentul West exclusive residences and greenery along the Jalan Sentul area in Kuala Lumpur.

(Source:The Star Malaysia,15/10/07)

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