PETALING JAYA: The fifth installation of the StarProperty Awards 2020: Real Estate Developer event was held for the first time in cyberspace, breaking new grounds as winners celebrate their hard-won trophies.
Even as the Covid-19 pandemic is triggering a transformation of the property industry, the subsequent movement control orders are changing the way many events are being held.
“This year has been a very challenging year for the country, the people and our economy, ” said Star Media Group chairman Datuk Fu Ah Kiow.
“For the property development sector, it is a triple whammy as this sector has already been experiencing slow down over the last few years, ” he said during the virtual StarProperty Awards 2020 broadcasted on multiple media platforms yesterday.
Thankfully, Fu said, the property market is cyclical and there will always be a need for housing.
Pointing out that Budget 2021 had officially been passed by the Parliament, he said several real estate incentives would help spur the market.
These include the full stamp duty exemption for first-time home buyers who purchase residential property between January 2021 and December 2025 as well as a Rent-to-Own Scheme for first-time home buyers, which will run up to 2022 and involves five thousand PR1MA houses worth a total of RM1bil.
The RM1.2bil provision for the construction of homes for low income earners and the relaxation of the real property gains tax imposed on the disposal of properties after five years are also positive drivers.
“Hopefully, all these will translate into more market demand for houses and serve to drive the property market forward, ” said Fu.
He later presented awards to developers whose award-winning properties have challenged the boundaries of innovation, architecture and functionality.
Master community builder Sunway Group was the biggest winner, bagging nine trophies, followed by Gamuda Land Sdn Bhd, LBS Bina Group Bhd and OSK Property Holdings Bhd, with seven trophies each.
The other two big winners were Mah Sing Group Bhd with six trophies and Malaysian Resources Corporation Bhd (MRCB) with five trophies.
Property developers who also won notable awards were Glomac Bhd, IJM Land Bhd, IWajib Group, JL99 Group, LinBaq Holdings Sdn Bhd, Matrix Concepts Group, Paramount Corporation Bhd, Platinum Victory Group, Sime Darby Property Bhd, Sheng Tai International Sdn Bhd, Skyworld Development Group, Sri Pengkalan Binaan Sdn Bhd, Symphony Life Bhd, Tropicana Corporation Bhd, UEM Sunrise Bhd, Worldwide Holdings Bhd and YNH Property Bhd.
The new awards introduced this year for hotels were snapped up by EQ, CitizenM Kuala Lumpur, Rosa Malacca and The Edison George Town, Penang.
“The awards pay homage to the premier real estate developers and the development projects that form the fabric of the nation’s infrastructure, shaping the landscape for years to come.
“Of equal importance to Malaysia’s wellbeing is the tourism sector, of which the hospitality industry and hotels in particular are affiliated with, ” said StarProperty general manager Jason Yap.
“The stakes are raised as each All-Stars award is bestowed upon real estate developers squarely based on company’s performance for the year, ” he said.
“The panel of judges presiding over the awards are from varied disciplines and different backgrounds.
“From architects, surveyors, designers and town planners to property consultants and industry experts – the diversity of the esteemed panel ensures a fairer and more comprehensive audit of the entries received, ” he added.
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