The Sun Avenue project view. — VNS Photo

HCM CITY (Biz Hub) — The country's top property developers and professionals will be honoured on August 14 at the first ever Viet Nam Property Awards to be held in HCM City.

The ceremony at the Intercontinental Asiana Saigon Hotel followed by a gala dinner has been organised to reward top developers, the finest current developments and resort destinations across the country, most of them in Ha Noi and Ho Chi Minh City where there has been a quick recovery by the property industry.

"It has been a very monumental year for Viet Nam's property sector," said Terry Blackburn, CEO of Ensign Media, which gives away the awards and is the publisher of Asia's industry-leading Property Report magazine.

"After a few slow years the Viet Nam market is back on track, with many expat residents and investors as well as local industry players applauding the introduction of legal reforms on foreign real estate ownership in the country."

Competing for the year's top honour – Best Developer – are four of Viet Nam's biggest developers: four-time nominee CapitaLand, Novaland Group, M.I.K. Corporation and Vingroup.

Other major contenders are Keppel Land with three nominations including Best Office Development and Best Retail Development; and Vina Capital, a two-time nominee in the resort sub-categories for Best Villa Development (Resort) and Best Condo Development (Resort).

Due to the anticipated increase in demand in the housing segment following the enactment of the landmark Law on Residential Housing, all eyes will also be on the residential categories, covering the affordable, mid-range, resort condo, and luxury segments in HCM City, Ha Noi and the rest of the country.

Vying for the Best Luxury Condo Development (HCMC) award are Estella Heights by Estella Joint Venture Company Ltd and Gateway Thao Dien by Gateway Company Limited, both located in the city's vibrant District 2, one of Viet Nam's fastest growing property hot spots.

The winners will be eligible to compete with regional peers in the grand finale at the fifth annual South East Asia Property Awards to be held in Singapore on October 15.

Presented by Property Report, the annual event serves as a unique networking venue for professional realtors in Viet Nam to meet industry leaders and stay in touch with their peers.

The awards will be promoted throughout the country and across South East Asia through media partners including Oriental Media Viet Nam, Deluxe magazine, Resort & Spa Viet Nam magazine, Viet Nam News, Ringier, Robb Report, Citizen K Viet Nam, and Mua Ban Nha Dat. — VNS