Kingdom’s Property Awards ride the second wave
Kingdom’s Property Awards ride the second wave
After an outstanding ceremony at last year’s inaugural Cambodia Property Awards, this year saw online property group PropertyGuru hosting the Cambodia Property Awards 2017 for a second run.
Government officials were also invited as guests of honour, with Senior Minister of Land Management, Urban Planning, and Construction, Chea Sophara, presiding over the event. Secretary of state Pen Sophal was also an honourable attendee.
Aside from mainstay names that were big winners last year, the 2017 awards held at Sofitel Phnom Penh Phokeethra on March 24 welcomed more new faces in the real estate developer scene with 17 categories compared with last year’s 13.
The increase in the number of categories, said Terry Blackburn, founder and managing director of PropertyGuru Asia Property Awards, “is a strong indication that there are now more quality developments being launched and built across different segments of the market, especially outside of Phnom Penh.”
The awards are not limited to developers heating up the scene only in the capital city, with a total of 32 eligible entries submitted from across Phnom Penh, Siem Reap, and Sihanoukville, and 11 of them making the final shortlist.
Award categories ranged from ‘Special Recognition in Green Development’ to ‘Best Landscape Architectural Award’, with the latter being won by Borey Peng Huoth Group which swept up a total of four awards at the show.
On the highlight of the event, Blackburn noted: “This year, the judges made a special selection among the entrants and decided to give the Special Recognition in Green Development award to recognise the green initiatives of MTP Invest.” MTP Invest is the developer of Phum Barang, a residential project based in Siem Reap.
This year, however, there was no Real Estate Personality of the Year, which had gone to WorldBridge Land’s Sear Rithy in 2016. “There was no recipient in 2017 because there was no clear frontrunner who embodied the qualities of the award,” Blackburn explained.
While the awards showcase a definite progress in the real estate industry’s strive towards global standards, Cambodia’s real estate sector as a whole still has a substantial way to go – not just in the niche elite developments.
Blackburn, however, remains bullish. “Cambodian real estate has shown improvement year after year. The local property sector is undoubtedly one of the most exciting emerging markets in Southeast Asia.”
He believes the direction Cambodia is steering towards at present points towards a growing interest in green and sustainable building practices.
What the Cambodia Property Awards spurs on amongst developers is a sense of pride and competitiveness for quality, as “the judging panel encourages local developers as well as local authorities to look deeper into standardizing the country’s building and environmental guidelines,” said Blackburn.
“We expect to see more developers engaged in this aspect, and hope that the awards will encourage even better quality construction, more innovative design and sustainable development in the years ahead.”
