This article first appeared in City & Country, The Edge Malaysia Weekly on November 11, 2019 - November 17, 2019
Dear readers,
For the past 17 years, The Edge Malaysia Property Excellence Awards (TEPEA) have honoured the best property developers in the country both in terms of financial strength and delivery of quality real estate.
Since 2003, we have seen two up and down cycles in the property market. There were five good years before the global financial crisis struck, leading to a slump in 2008 and 2009. But the market bounced back strongly from 2010 until Bank Negara Malaysia put on the brakes in 2014 to rein in spiralling prices, high household debt and property speculation.
The slowdown this time around has lasted longer than the last down cycle and will soon be entering its fifth year with unsold properties, both residential and commercial, at their highest level in recent times.
However, Malaysian property developers have been mindful of the soft market conditions and have acted accordingly to remain resilient during these times and we recognise their efforts with The Edge Malaysia Property Excellence Awards.
The awards have become an industry benchmark for companies that have sustainable financial strength and delivered quality products to their customers to be used as a home or an investment asset.
The companies ranked in the Top Property Developers Awards are evaluated on their qualitative and quantitative abilities.
The qualitative evaluation is done by a panel of judges who are industry personalities. Companies are judged by their peers, which is probably the most satisfying way to be recognised. Judges abstain from scoring companies that they are affiliated with.
In the qualitative evaluation, which makes up 65% of the total score, judges mark each company on its expertise; image; innovation and creativity; product quality; and value creation for buyers.
The quantitative evaluation of a company’s shareholders’ funds, turnover, profitability and cash or gearing accounts for the remaining 35% of the total score.
Listed companies are automatically entered into the awards while private developers provide the necessary documentation to be considered.
Besides the Top Property Developers Awards, we also present the Value Creation Excellence Award in collaboration with the Association of Valuers, Property Managers, Estate Agents and Property Consultants (PEPS), the Green Excellence Award with Pertubuhan Akitek Malaysia (PAM) and the Affordable Urban Housing Excellence Award.
We also recognise the exceptional leadership of three industry personalities with the Lifetime Property Achievement Award, Outstanding Property Entrepreneur Award or Outstanding Property CEO Award.
Ireka Corp Bhd executive chairman Datuk Lai Siew Wah walked away with the Lifetime Property Achievement Award this year in recognition of his efforts in guiding the company through the boom and bust of several economic cycles in the past 50 years.
UOA Development Bhd managing director C S Kong was named Outstanding Property Entrepreneur while IGB Bhd and IGB Real Estate Investment Trust group CEO and managing director Datuk Seri Robert Tan took home The Edge Malaysia Outstanding Property CEO Award.
This year, we introduced a new property award, The Edge Malaysia Outstanding Overseas Project Award, which was awarded to Gamuda Gardens in Gamuda City, Hanoi, by Gamuda Land as well as Circus West Village in Battersea Power Station by the Malaysian Battersea consortium of S P Setia Bhd, Sime Darby Property Bhd and the Employees Provident Fund.
Also in this issue will be the details of the awards, the recipients, the methodology and photographs of the evening that shone the spotlight on Malaysia’s top property developers.
A special thank you to our sponsors this year — Euromobil Sdn Bhd, the largest distributor of Audis in Malaysia, and USG Boral, a top building materials supplier — for their support.
Datuk Ho Kay Tat
Publisher and group CEO
The Edge Media Group
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