The bestowal of the world’s best property projects will become an important part of the 61st World Congress of the International Real Estate Federation (FIABCI), which will be held in Bali from May 24 to 28, 2010. A total of 54 works of properties from various countries will compete for the best property awards in the conferment arena known as FIABCI Prix d’Excellence Awards 2010.
FIABCI Prix d’Excellence Awards is the annual accolade of awards bestowed to the works of the world’s best properties. The awards are given and announced in conjunction with the FIABCI World Congress.
Prix d’Excellence Awards 2010 will be participated by 54 winning nominees comprising of 13 different categories. Contested categories include environment, master plan, sustainable development, public infrastructure, hotel, office, industrial estate and special categories.
President of FIABCI Prix d’Excellence Awards 2010 Yeow Thit Sang revealed that the 54 winning nominees were property projects from 11 countries. Asia is recorded as a region which contributes the most nominees, up to 40 projects from eight countries, followed by European region that includes 11 projects from two countries, and the United States with its two projects.
“There are more participants at Prix d’Excellence Awards 2010 compared to that in 2009. There were only 10 contested categories participated by 40 nominees from nine countries during last year’s accolade,” Yeow remarked. A large number of nominees from Asia Pacific show that the world recognizes that this region should begin to be considered.
According to him, the projects being nominated at Prix d’Excellence in 2010 have in general fulfilled the high standard requirement. A fact that stands out significantly this year is the environmental issue. Weight of the environmental assessment of this year rose from 20% to 25%.
As the peak of the bestowal of the world’s property projects, as Yeow further said, Prix d’Excellence Award is supported by independent jurors and professionals. They possess diverse professional backgrounds and come from various countries. There are 30 jurors who are the real estate industry professionals from 18 countries. The members of jury include the president of FIABCI at a number of areas, former FIABCI world president, the president of such principal members as professional associations, architects, surveyors, appraisers and developers.
The award assessment is done through a transparent process. Each member of the jury has his or her independence in providing assessment based on existing criteria. Meanwhile, the president of FIABCI Prix d’Excellence Award is not involved in the assessment. He does not become part of the assessment process, yet maintaining bigger role in leading the organization at large.
“Being a winner of Prix d’Excellence is very prestigious and proud. The winners can proudly show that their works are among the world’s best ones. The awards also show that their works have the value of above average comparing to most of other property works,” Yeow asserted.
An Opportunity for Indonesia
The committee chairman of FIABCI World Congress Bali, Pingki Elka Pangestu explained that Indonesia had successfully sent a number of properties to such an esteemed accolade. The country’s property works possess excellent quality in building materials and designs, which are comparable to those from overseas.
According to Pingki, Indonesia has for long time not participated in such a world class contest despite the presence of Indonesian developers with shining works comparable to property projects developed in other countries.
“This is a golden opportunity for Indonesian developers to speak at an international level. Especially with some of our property works have won the Prix d’Excellece, such as Pondok Indah Mall II in 2006 in Bangkok, “he said further.
Being the winner of Prix d’Excellence gives prestige to the respectively awarded property project. Such award is not only lifting the image, but also has the potential to increase the project’s commercial aspects. A hotel and office building that have won the award, for example, could peg the average rental rate higher than their competitors, respectively. The hotel and the office building will become favorite and more attractive to the public.
Pingki also believes that Prix d’Excellence is an effective promotional event in the international market due to the fact that the event shows the equivalence with the best. This will improve consumers’ confidence in getting the best products. As for the developers that created these masterpieces, the victroty in the accolade earns a valuable means of recognition. These developers will come to give applause for the success of each work, respectively.
Chairman of Prix d’Excellence Award 2010, Johannes Tulung hopes that through participation in the event of Prix d’Excellence, Indonesian property projects will be better known on the international stage. Besides lifting the national dignity and pride, through participation in this event, Indonesia can show the world as a country that is able to create works of high value properties.
“The participation in the Prix d’Excellence will be the opening door for the local or national developers to capture opportunities in regional and international markets,” he said.
The accolade of Prix d’Excellence is scheduled to be held with a festive gala dinner on May 27, 2010. Hundreds of invitations are expected to attend and participate in one of the most important events of the world real estate congress.