Malaysian Developers Shine On The Global Stage
Popular overseas destinations like London, Melbourne and Tokyo often entice Malaysian tourists. However, Malaysian property developers are not just interested in sightseeing. They are competing with international counterparts and taking Malaysian brands to the global stage.
While many of these developers are industry giants, some smaller players are making waves with bite-sized projects. Their success highlights that Malaysian developers have the potential to thrive in international markets, despite lingering uncertainties. In a bid to encourage more Malaysian developers to explore international opportunities, FIABCI-Malaysia and Star Media Group have introduced the International Award category as part of their Special Awards.
This award recognises developers who have expanded their presence beyond Malaysian borders, achieving remarkable success through innovative ideas and concepts that inspire their peers. To qualify, developers must be at least 51% Malaysian-owned and have active projects in foreign countries.
Like the Rising Star and Transformation awards, the International category also gives greater weightage to the project criteria, taking into account seven attributes as listed in the table. The second portion is on the company itself. A host of information is requested from participating property developers covering their development details from inception to completion. This includes activities that were carried out throughout its construction period.
The developers were also analysed for their financial prudence and long-term sustainability to ensure that the award given to the recipient was justified. Two recipients were given the International Award this year. They are Battersea Power Station Malaysia Sdn Bhd, a joint venture comprising Sime Darby Property Bhd, SP Setia Bhd and the Employees Provident Fund (EPF), for the Battersea Power Station project in London, UK and IOI Properties Group Bhd for their IOI Palm City, Xiamen in the People’s Republic of China.