HÀ NỘI — The first Việt Nam Property Awards 2018 is expected to create new development trends in the property market, says Đặng Hùng Võ, former deputy minister of Natural Resources and Environment.

The annual awards are co-hosted by the Việt Nam Real Estate Association (VNREA), Management Agency for Housing and Real Estate Market under the Ministry of Construction and VTV24 news centre.

The award ceremony is scheduled to take place in the middle of this month at the National Convention Centre.

According to Võ, the awards are considered significant to ensure sustainable and transparent development of the real estate market.

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

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

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

He said the eight categories cover all aspects of the property market. Of these, the three criteria of green building, energy saving and highly valued by customers have been standards.

“Estate firms will have the opportunity to score based on the criteria. The awards will also help prestigious property developers advertise their image as well as encourage businesses to become more professional in the market,” he said. — VNS