The Viet Nam Real Estate Association (VNREA) on Tuesday launched the first-ever Viet Nam Property Awards for 2017-18.

Speaking at a press conference in Ha Noi on Tuesday, VNREA Chairman Nguyen Tran Nam said it would be the annual awards co-hosted by the VNREA, the Ministry of Construction’s Management Agency for Housing and Real Estate Market and VTV24 news centre under the auspices of the Central Steering Committee on Housing Policy and Real Estate Market and the Ministry of Construction.

The awards aim to honour outstanding individuals, organisations and projects that contribute to the rapid, sustainable and transparent development of the realty market amid industralisation, modernisation and integration, thereby encouraging domestic property firms to improve competitiveness and trademark up to international practices.

The competition is open to all individuals and entities operating in real estate in line with Viet Nam’s law, exclusive of wholly foreign-owned ones, without discrimination between VNREA members or non-members.

Participants will compete in eight categories, including the prestigious real estate developer, the largest urban area, the best resort development, the best office building for rent and shopping mall, the best worth-to-live residential area, the best green building, the best real estate transaction floor and the best social housing project.

He underscored the significance of the awards, especially at a time when the VNREA is due to hold the International Real Estate Conference (IREC) with over 20 countries taking part in September 2018. — VNS