Malaysia Property Award: Real estate industry’s pinnacle of excellence

KUALA LUMPUR: The Malaysia Property Award stands as the pinnacle of achievement in the real estate industry, providing developers with an esteemed platform to showcase their outstanding creations.

International Real Estate Federation (FIABCI) Malaysia Chapter president Datuk Firdaus Musa said the award – recognised as the ‘Oscar’ for the industry – has evolved into a highly regarded brand, sparking intense competition among developers eager for its prestigious recognition.

“The award’s procedures are meticulously enforced to ensure fairness and transparency at every stage, from nomination to site visits, verifications, and judging. This stringent process is vital for upholding the award’s integrity and reputation within the industry,” he said in a release.

Firdaus said each year, the organising committee diligently reviews nominated projects for eligibility, setting the stage for a thorough evaluation.

Qualified nominations undergo rigorous physical site visits and verifications conducted by evaluators who adhere to a strict code of ethics, he added.

“These evaluators assess projects based on predetermined criteria and requirements, submitting detailed reports for further review by the organising committee. The group’s mark, representing 30 per cent of the final total marks for each project, reflects the culmination of their comprehensive evaluations. Following the presentation of findings to the jury members, evaluators collaborate to shortlist the best projects,” he explained.

The jury members, operating independently, comprise seasoned industry professionals, experts and individuals deeply involved in real estate or related industries.

A summary of the short-listed projects is then presented to independent judges, respected members of society with no affiliation to FIABCI Malaysia but possessing extensive experience in their respective fields.

“The decision made by these independent judges, representing 70 per cent of the final total marks, undergoes scrutiny by an independent public auditor for verification.

“The final winner in each category is determined by combining scores from both the evaluators’ group and independent judges, with confirmation from the independent public auditor,” said Firdaus.