New awards were handed out for outstanding golf, universal design and special commercial developments
The PropertyGuru Myanmar Property Awards 2017 concluded the search for the year’s achievers in the real estate sector during its third annual gala dinner held on Friday (30 June 2017) at the Sedona Hotel Yangon.
Marga Landmark made a clean sweep, winning in all categories for which it was nominated, in addition to collecting a Special Recognition in Corporate Social Responsibility and earning the industry’s highest honour for Best Developer.
“The 2017 Best Developer winner leads in Myanmar’s ‘sustainable urbanisation’, with innovative, world-class projects such as The Central mixed-use development. Marga Landmark excels in many ways, from project design and planning, to construction and delivery of luxury real estate that aims to contribute to the country’s economic acceleration,” said the independent judging panel.
“Together with the firm’s notable CSR initiatives, Marga Landmark has become an undisputed leader in Myanmar’s evolving real estate sector.”
Praise for the company’s The Central project was across the board, receiving accolades for Best Condo Development, Best Retail Development, Best Mixed Use Development, and Best Universal Design Development, which is a new category to reward a project with a built environment that can be accessed, understood and used to the greatest extent possible by all people regardless of their age, size, ability or disability.
There were other new awards handed out this year: Best Special Commercial Development, which went to Danyingone Fruits, Vegetables & Flowers Wholesale Market by MAEX (Member of the Dagon Group of Companies), and Best Golf Development for Dagon Golf City by Royal Sky Company Limited.
Strong retail segment
IME Property, developer of The Leaf Residence, won two gongs for its condominium project in Yangon. Meanwhile, Myanmar Seilone collected the award for Best Serviced Apartment Development for RESIDENCE@26.
While the residential segment in Myanmar has entered a slow phase, the commercial segment continues to perform strongly, particularly retail, according to chairman of the judging panel Richard Emerson, managing director of Emerson Real Estate. “Serviced apartments in Yangon have also maintained high occupancy levels and some of the highest room rates in the region, demonstrating the strong demand from corporate occupiers.”
He said that despite the difficulties in this transition period, “Myanmar remains a bright prospect for the future. With the government continuing to open up the economy and encourage both foreign and local investment, the market shows strong fundamentals, and there is an inherent need to modernise and improve the country’s real estate and infrastructure to keep pace with the country’s growth.”
Economic contributions from real estate sector
In his opening keynote speech, the evening’s guest of honour U Aung Naing Oo, Director General of the Directorate of Investment and Company Administration (DICA), and Secretary of the Myanmar Investment Commission, promoted the investment potential of Myanmar especially following the implementation of the new Myanmar Investment Law in the beginning of the second quarter.
Another highlight of the ceremony was the presentation of the 2017 Myanmar Real Estate Personality of the Year award to Shwe Taung Development Co., Ltd’s Group CEO Aung Zaw Naing, who was selected by the editors of Property Report magazine for being instrumental in the advancement of the country’s real estate sector and improvement of Yangon’s urban landscape. It was the only award not selected by the judging panel.
A total of 18 competition and special awards were announced during the gala dinner as nearly 300 guests and VIPs from various fields such as construction, design, banking and legal revelled in the four-course gala dinner that followed the cocktail reception.
Hari V. Krishnan, CEO of PropertyGuru Group, said: “Congratulations to all the companies and teams that were recognised at the PropertyGuru Myanmar Property Awards. It is a thrill to celebrate the industry’s best developers and projects. There is no doubt that the awardees in Myanmar have aimed to achieve greatness and they delivered on that promise, and that deserves our respect and recognition.”
The domestic winners in Myanmar will now advance to the seventh annual PropertyGuru Asia Property Awards 2017 in Singapore to compete with winners from 16 other Asian markets for more regional accolades. The much-awaited Grand Final gala ceremony will be held alongside the PropertyGuru Singapore Real Estate Summit at the Sands Expo and Convention Centre on 7-8 November.
Terry Blackburn, founder and managing director of the PropertyGuru Asia Property Awards and the Asia Real Estate Summit, said: “The contribution that the real estate sector makes to Myanmar’s economic advancement, especially on the heels of the new Myanmar Investment Law, is something that all the developers who were recognised this year should be immensely proud of. We wish them continued success and encouragement to continue producing quality products.”
The PropertyGuru Myanmar Property Awards is supported by co-sponsors Rinnai and TEKA; official portal partner ShweProperty.com; media partners Myanmar Insider, Oxford Business Group, Golden Hexagon, Frontier Myanmar Research and Advisory, and Property Report; supporting associations British Chamber of Commerce in Myanmar, European Chamber of Commerce in Myanmar, The American Chamber of Commerce in Myanmar, The Australia Myanmar Chamber of Commerce and French Myanmar Chamber of Commerce; official hotel venue Sedona Hotel Yangon; official supervisor BDO led by director Zaw Erskine; and local partner The MDL Company.