SAPOA awards will honour innovative property development
The 2012 entries for the SAPOA (South African Property Owners Association) Awards for Innovative Excellence in Property Development have increased to 29 from 27 in 2011, across 10 different categories, with nearly one third for refurbishment projects.
"This contrasts to the cycle from a few years back, where international development, retail and mixed-use developments dominated the entries," explains John Truter, chairman of the awards. "Refurbishments are less risky than new developments as they represent limited spend and drive sustainable growth by extending existing, income-producing properties."
Sponsored by Nedbank Corporate Property Finance, the awards encourage a built environment that considers more than architectural appeal, working on all levels. It evaluates a development's economic viability, how it satisfies the needs of its investor and its user, aesthetics and general positive impact on its surrounds.
"Our skyline is a legacy. Through these awards we seek to honour those who contribute to our future, our cities and our sector with innovation and excellence," says SAPOA CEO Neil Gopal. "Property development represents a major economic sector in South Africa. It affects every South African. It's important that property development has a sustainable, positive impact."
However, green shoots are coming through in the international development category after the Dubai crisis brought it to a virtual standstill for a few years. Entries received for local expertise, applied to international developments, include projects in Italy, Dubai and Mauritius.
Truter believes that the awards will soon see more entries for developments throughout Africa, as opportunities grow for property development across the continent.
Frank Berkeley, managing executive of awards sponsor, notes that the awards highlight the excellent innovation and local relevance of property development. "Nurturing creative originality in property development across all sectors is an important ingredient to foster excellence in the industry as this ultimately enriches our cities and urban areas to benefit everyone. The awards are a showcase of the quality of our property developments."
Awards categories include office, retail, industrial and residential developments, as well as refurbishments, mixed-use, international developments and social/environmental impact projects. The category of 'other' developments includes hotels, leisure and dealership developments. There is also an award for the most innovative solution to a property challenge.
In addition, there are three overall awards for green building, transformation and, for the first time in 2012, social impact.
A multi-disciplinary expert panel of 16 independent judges comprising leaders in their fields gives decisions on award winners.
For more information, go to www.sapoaconvention.co.za.