The Bay? Wins 2 International Property Awards

• 31 December 2015
• Local News
• 914 Views

The iconic mixed development, The Bay, has been recognized by the International Property Awards program as the best commercial development in the Asia-Pacific region in two categories; mixed-development and residential development (multiple units) for 2015-2016.

This US$500 million mixed hotel-condominium project on Phnom Penh’s Chroy Changvar peninsular is being developed by Singapore-based TEHO-SBG Development Co., Ltd. The Developer told Construction and Property Magazine that the award’s selection committee informed the company of their victory in February with the formal gala awards event scheduled to take place in Kuala Lumpur in May this year.

The Bay’s outstanding criteria which landed it the awards included being the tallest building in Phnom Penh at 53 floors on completion in 2019, and its iconic design whose innovative functionality centers on its lighting and ventilation. “It is a design that Cambodia has never seen before given the colonial types of architecture in the region,” TEHO explained.

Receiving the awards will create greater global confidence in the developer which will boost sale, enhance motivation and morale, and build an international reputation through the worldwide media coverage.

According to the organizers of the International Property Awards, earning an award in any of their categories is a world-renowned mark of excellence. TEHO agreed saying, “This has helped us to show that The Bay is no ordinary feat of architecture, but one that is truly a masterpiece.”

Initiated in 1995, the International Property Awards are open to residential and commercial property professionals and firms from around the globe. It celebrates the highest levels of achievement by companies operating in all sectors of the property industry.

The awards are split into regions covering Africa, Asia Pacific, Arabia, Canada, Caribbean, Central and South America, Europe, the UK, and the USA. Participants enter at their relevant national level and are judged by a highly experienced team of about 80 professionals who cover the whole range of property disciplines. The highest-scoring winners from each region are automatically entered into the overall international awards, which ultimately determine the world’s finest property companies.

Winners are determined through a stringent selection process, and the few chosen companies are then invited to attend a glittering awards dinner for each region and have the right to use the prestigious logo in their marketing.

The program features four main categories; development, architecture, interior, design and real estate which are then divided into many sub sections. The Bay won two of these sub-sections, i.e. mixed-development and residential development (multiple units) of the development category.

“Each and every one of the companies to win a coveted world’s best award has displayed exemplary levels of quality, professionalism and innovation. Having proved their worth at country level, they can now take their rightful place as leaders in the global property market,” said International Property Awards’ President, Stuart Shield.

He added that Asia-Pacific has an enviable and unbeaten record of success at international level. The region scooped a total of 13 of the World’s Best Awards in 2012 but then went on to break its own record number by scoring an impressive 18 of the World’s Best Awards in 2013. “We will all now wait to see if Asia-Pacific can not only retain the title of best performing region of the world in the International Property Awards but also beat its own record for yet another successive year.”

The Bay is the first project that ECG has developed in Cambodia, but it is not the last as TEHO-SBG Development confirmed. “We are definitely looking into cementing our presence in Cambodia for the long term, hence our office in Phnom Penh. We are focused on The Bay at the moment, but we do have other projects in the works that we intend to launch in the future.”

For more information about The Bay project, read the exclusive profile in Issue 014 of Construction and Property Magazine.