This year’s achievers in the real estate sector were honoured at the 3rd annual PropertyGuru Myanmar Property Awards 2017. A gala dinner was held on June 30th at the Sedona Hotel Yangon, where the winners had a chance to collect their awards.
The night’s biggest winner was Marga Landmark who won in all of the categories it was nominated for. Among the highlights was the Best Developer award, the industry’s highest honour, and the Special Recognition in Corporate Social Responsibility award.
“The 2017 Best Developer winner leads in Myanmar’s ‘sustainable urbanisation’, with innovative, world-class projects such as The Central mixed-use development. Marga Landmark excels in many ways, from project design and planning, to construction and delivery of luxury real estate that aims to contribute to the country’s economic acceleration. Together with the firm’s notable CSR initiatives, Marga Landmark has become an undisputed leader in Myanmar’s evolving real estate sector,” say the independent judging panel.
Marga Landmark‘s The Central project won several gongs including Best Condo Development, Best Retail Development, Best Mixed Use Development, and Best Universal Design Development, a new category at this year’s event.
Two other new awards were also handed out at the gala dinner. These were Best Special Commercial Development, which was won by Danyingone Fruits, Vegetables & Flowers Wholesale Market by MAEX (Member of the Dagon Group of Companies), and Best Golf Development for Dagon Golf City by Royal Sky Company Limited.
The residential segment in Myanmar has performed under expectations but the commercial segment and retail industry are going strong, according to Chairman of the Judging Panel Richard Emerson, Managing Director of Emerson Real Estate. In addition to this, serviced apartments in Yangon have high occupancy levels and some of the highest room rates in the region showing this segment has strong demand.
“Myanmar remains a bright prospect for the future. With the government continuing to open up the economy and encourage both foreign and local investment, the market shows strong fundamentals, and there is an inherent need to modernise and improve the country’s real estate and infrastructure to keep pace with the country’s growth,” says Emerson.
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