Rewarding developers for world-class projects
THROUGHOUT 27 years, FIABCI World Prix d’Excellence Awards has been playing its role to nurture, and promote growth in the real estate industry, apart from inspiring various developers from all around the world to develop outstanding projects.
This year, it is such a pleasure to see that the number of participating projects had increased from 54 projects last year to 69 projects this year.
The FIABCI World Prix d’Excellence, organised by the International Real Estate Federation (FIABCI) is a world property award that recognises projects that best embody excellence in all real estate disciplines involved in its creation.
It illustrates concretely the FIABCI ideal of providing society with the optimal solution to its property needed, and this year, the award has been organised for a quarter of a century.
The award is judged in two tiers, first by Judges and then by Oversight Panel; members of both tiers are top real estate professionals and experts from all around the world.
The FIABCI World Prix d’Excellence Awards reward overall merit and not just aesthetics, functionality or size; it therefore represents an outstanding achievement, like what FIABCI World president, Farook Mahmood said, it creates both efficiency and a higher quality of life; our society, indeed our entire world, benefits from such insightful entrepreneurial endeavours.’
The Awards categories have been increased from four in the initial years to 14 categories today as a resemblance of the growth of the industry.
The criteria of the judging has been reviewed and revised to reflect the salient points of the category.
The weightage of the marks allocated to each criterion indicates the importance of the criteria to the category.
Professor Chen Ming Cheu, president of FIABCI World Prix d’Excellence Awards 2018 is proud that many property developers are using the Awards criteria as their project planning and implementation benchmark, hence he is determined to defend the Awards’ quality and independency.
“Many developers are using the Awards criteria as their project planning and implementation benchmark.”
He further explained that the Awards which had been organised since 1992, has been recognising the excellent real estate projects that make a better place to work, live and play through the use of its creations, therefore making the world Awards most sought after and prestigious in the industry.
Chen is confident that the Awards committee members are playing their own roles to keep moving forward.
Evidently, the total participation this year has increased by 25%.
When asked about the challenges in organising the Awards, Ir. Yeow Thit Sang, Advisor cum Past President of FIABCI World Prix d’Excellence Awards said that the invitation to Judges is the most difficult part.
“As to avoid biasness in judging, all Judges must abstain himself from judging the entire category should there be a project of his country participating in the category.”
Taking into consideration of the number of entries and the number of Judges and their preferred categories, the Awards Secretariat will manage the process with the goal to have more or less equal number of Judges in each category and get as many Judges score for each category as possible, said Dr Yu Kee Su, the Secretary to the Awards Secretariat.
He further explained, the Oversight Panel are experienced Judges appointed by the World President with the recommendation from the World Prix d’Excellence Committee.
Their first role is to act as Judges to judge the assigned categories and projects.
Second Role is to study the top five projects of all categories and prepare for the Oversight Panel Meeting.