Friday, August 18, 2017

Marga Landmark and Royal Sky leading contenders in upcoming Myanmar Property Awards

Myanmar Property Awards – which is part of the regional Asia Property Awards – will be held for the third time on June 30 in Yangon at the Sedona Hotel.

This year, 12 companies will attend the 2017 Property Guru Myanmar Property Awards as the competition’s finalists. Among the year’s official nominees include some of the country’s top developers and a heritage property conservation business.

“This year, the Myanmar Property Awards has about 20 company competitions. Among them, the nominees have been chosen in the final competition then the awarded companies are going to compete in Singapore for the Asia Property Award,” said Terry Blackburn, founder and managing director of the Asia Property Award and Property Report. 

The Marga Landmark and Royal Sky Company are both the leaders, with five nominations each. The Shwe Taung Group CEO U Aung Zaw Naing is named “Real Estate Personality of the Year” and a total of 18 competition awards and a special award will be presented at the forthcoming gala dinner on June 30.

The Marga Landmark, a joint-venture of companies from Hong Kong, South Korea and the UK, is responsible for the mixed-use development called The Central in Yangon. It has been bestowed with five nominations, including a nod in a new category for Best Universal Design Development. 

Equally blessed with five nominations is the Royal Sky Company Ltd, the developer of Dagon Golf City, which is a residential project with a top-level golf course and luxury complex located near Yangon’s international airport. 

Another mixed-use developer is Asia Myanmar Shining Star Investment Company, which received four nominations including one from Kantharyar Centre in the Best Serviced Apartment Development category. 

“With the government’s intention to boost tourism, there is also considerable potential to create a new hotel and resort concepts both within existing tourism areas and new emerging destinations around the country,” said Richard Emerson, managing director of Emerson Real Estate and also chair of the judging panel. 

He added that the new government has begun to implement some legislative and policy changes as it seeks to implement economic reforms in the county. The sector, however, has yet to see any significant impact.