Realestateasia.com, the B2B website for the real estate industry, has launched the inaugural Real Estate Asia Awards to recognize best-in-class property developers for their projects and initiatives in the region, and to help give the pandemic impacted industry a much needed boost.
“The unforeseen circumstances brought upon by the pandemic has greatly impacted the real estate sector, from project developments and construction right to sales operations. Travel bans and lockdown measures have also affected the industry players as transactions were put on ice due to the crisis. Now more than ever, developers and investors alike must remain resilient in order to thrive amidst these testing times,” said Tim Charlton, CEO of Realestateasia.com.
These awards will be peer judged and aim to improve the quality and innovation in the real estate development industry by recognising the best new projects. Post Covid-19, real estate developers are already flagging significant changes to the design of office and residential projects.
“There is a definite flight to quality with companies seeking to maximise comfort in the office, remove those boardrooms and replace them with smaller collaboration spaces, and install smart sensors for indoor air quality and have better indoor circulation to make workers feel safer,” said Charlton.
Real Estate developers are also working out how to add more light, greenery and bring more amenities into a development so workers do not have to travel so far to enjoy all aspects of their life from working, eating, exercise, and relaxing, he added.
“Now that office workers have spent a year at home, when they return they expect their office environment to be more comforting, and more like their homes,” he said.
2020 was understandably a slow year for the real estate industry with transactions down 31% to US$134.6B in 2020, the lowest since 2012. But according to Charlton the shift to e-commerce saw a boom in logistics property and as the recovery gets underway all Real Estate sectors in Asia will pick up.
Entries will be evaluated by an expert panel of judges based on uniqueness and innovation, effectiveness and impact, and dynamism. The awards nominations can be made via https://realestateasia.com/event/real-estate-asia-awards-2021 and will close 19 March 2021. Winners will be announced 15 April 2021.
In addition to awards for excellence in development, other categories such as Sustainability, Corporate and Social Responsibility, and Marketing will be recognised. There will also be an award for CEO of the year.
“The way people live, shop, and work have all altered, and the way people will want to do all of these will fundamentally change out of Covid-19. The Real Estate Asia Awards will recognize the best developers adapting to these changing times,” added Charlton.