The best companies and developments in the local real estate and construction sectors were recognised on Friday at the Cambodia Property Awards 2018, which was held at Sofitel Phnom Penh Phokeethra Hotel.
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The biggest winner of the night was Borey Peng Huoth, who won Best Developer for the third consecutive year and earned a total of 17 distinctions, including a special recognition for its corporate social responsibility initiatives.
“Borey Peng Huoth Group is in a league of its own as a relentless innovator in Cambodian real estate,” the panel of judges said in a statement.
“Being the first developer in the country to utilise technology to promote its properties and to inform consumers, the group understands the power of positive word-of-mouth.
“For every project, whether residential, commercial or mixed-use, Borey Peng Huoth has earned praise from the industry, who lauds the quality of their sustainable designs, their planning and execution, and their site management.”
Other mixed-use developers were recognised during the awards, including joint venture Lixin Construction for its CEO KT Pacific project; Phnom Penh City Center for Eden Garden; and HCN Investment and Development Co., Ltd. for The Seagate Suite in Sihanoukville.
Japanese investment firm Creed Group won three awards including a special recognition in sustainable development, while Pisnoka International Corporation earned a special award for its work protecting the rights of female construction workers.
Meanwhile, young architect Hun Chansan, designer of the award-winning Noro Mall, was honoured as the 2018 Cambodian Real Estate Personality of the Year for inspiring a new generation of architects and designers through his design firm Re-Edge Architecture.
Hari V. Krishnan, CEO of PropertyGuru Group, the event’s organiser, said the night’s winners have demonstrated that progress in the sector can be achieved by focusing on the quality of the final product.
“It’s exciting to see that the domestic market is also maturing in terms of standardising working methods and safety guidelines and PropertyGuru is proud to support and celebrate the best business practices from developers and the construction industry,” Mr Krishnan said.
Terry Blackburn, founder and managing director of PropertyGuru’s Asia Property Awards, said, “Cambodia’s rapidly evolving real estate development and construction sectors are significant contributors to the advancement of this country’s economy and we are proud to have organised another hugely successful event this year.
“Well done to all the developers for giving consumers more quality real estate to choose from in the Greater Phnom Penh, Siem Reap and Sihanoukville regions.”
The combined value of approved construction projects in Cambodia reached $6.42 billion in 2017, an increase of 22.31 percent year-on-year, according to the Ministry of Land Management, Urban Planning and Construction.
Across the country, 3,052 new construction projects, equalling 10.74 million square metres, broke ground last year.