A Solid Second Year

MDA 2023 continues its strong run

Welcoming the achievements of the property industry for the second year since its debut, the Malaysia Developer Awards (MDA) 2023 returned on August 24 with a grand ceremony of pomp and performance. The celebration took place at the M Resort and Hotel, Kuala Lumpur, graced by guest of honour, Deputy Local Government Development Minister Akmal Nasrullah Mohd Nasir.

Held in recognition of the progress made by the property industry, the Malaysia Developer Awards saw a sweeping blend of ambitious up-and-comers and established names at the dinner.

Awarding 28 recipients, each developer brought with them their own wealth of experiences and approach to the industry with which they had won their respective awards. There were a total of six categories this year, under the prime categories of Top-of-the-Chart Awards and the Special Awards.

The Special Awards comprised the Rising Star Award, Transformation Award, International Award, and the latest category, the Joint Development Award.

The Rising Star Award aims to recognise the efforts of up-and-coming developers who have managed to set themselves apart from the rest of their peers, displaying strength, leadership and potential despite their youth. The award was given to EUPE Corporation Bhd, OCR Group Bhd and UMW Development Sdn Bhd. 

Targeting developers who have rescued abandoned projects, rejuvenated old and dilapidated buildings or converted unused land into grand developments, i-Berhad was the sole recipient of the Transformation Award. 

The International Award, which honours Malaysian developers who have managed to brace against the challenges and thrive overseas, was bestowed to the Battersea Power Station in London. The project was undertaken by the Battersea Power Station Malaysia Sdn Bhd, a joint venture between Sime Darby Property Bhd, SP Setia Bhd and the Employees Provident Fund (EPF).

Another recipient of the International Award is IOI Properties Group Bhd, for its IOI Palm City project in Xiamen, China. 

Aiming to acknowledge the efforts of joint developments, the Joint Development Award aims to highlight projects that have combined the scale and expertise of multiple developers to create masterful properties.

The award was given to Bukit Bintang City Centre, a joint venture between UDA Holdings Bhd, EcoWorld Development Group Bhd (EcoWorld) and EPF.  

For their work on Stonor 3 KLCC, Tan & Tan Developments were also awarded the Joint Development Award.

With respect to the Top-of-the-Chart Awards under the Top 10 for Market Capitalisation of RM1bil and above, IOI Properties Group bags the number one spot. OSK Holdings Bhd earns the second rank, with Matrix Concepts Holdings Bhd, Malaysian Resources Corporation Bhd, HCK Capital Group Bhd, Mah Sing Group Bhd, UEM Sunrise Bhd, IJM Corporation Bhd (IJM Land Bhd), Sime Darby Property Bhd, as well as IGB Bhd and Tropicana Corporation Bhd.

IGB Bhd and Tropicana Corporation Bhd tied for the tenth position.

Under Top-of-the-Chart Awards, developers will find new subcategories; Best in Quantitative for Market Capitalisation of RM1bil and above and Best in Qualitative for Market Capitalisation of RM1bil and above awards.

The Best in Quantitative for Market Capitalisation of RM1bil and above award was awarded to IOI Properties Group Bhd. The Best in Qualitative for Market Capitalisation of RM1bil and above award was awarded to Sime Darby Property Bhd.

As for the Top 5 for Market Capitalisation of below RM1bil, NCT Alliance Bhd, Paramount Corporation Bhd, Glomac Bhd, LBS Bina Group Bhd and JKG Land Bhd clinched their place for these awards.

NCT Alliance Bhd earned itself the Best Quantitative for Market Capitalisation below RM1bil award, while the Best Qualitative for Market Capitalisation of below RM1bil award was granted to Paramount Corporation Bhd.

The judging panel consisted of ten industry experts from a variety of disciplines, including valuers and estate agents. With Bursa Malaysia Bhd chairman Tan Sri Abdul Wahid Omar and Klang Municipal Council president Noraini Roslan as chief judges, each developer is evaluated on a qualitative and quantitative scale for an equitable and all-encompassing evaluation.

Source: StarProperty