Effective immediately, the 2017 Awards cycle of the Asia Pacific Property Awards (APPA) by the International Property Awards (IPA) no longer offers an 'Industrial Development' Category. This means that developers of Industrial Development projects will now have to compete in the Commercial Development or Office Development categories depending on the way their units are laid out and structured. Alternatively, industrial projects with other components could also try their luck in the Mixed Development category.
This move will make it more complex for Industrial projects to win the awards simply because of the elevated level of completion these projects will face in a broader. It also sets the bar higher as the developer has to deal with an equally broader set of judging criteria and regulations. But with this challenge also comes the opportunity to appeal to a larger audience of buyers who seek non-traditional spaces for their commercial needs, either because it would allow them to create a unique work environment or to suit a variety of business needs from office space to storage to perhaps even light production. The key here would be for the developer to sell versatility of use should they win the award.
The Arabian Property Awards, the African Property Awards, The European Property Awards, The UK Property Awards, the American Property Awards and the Canadian Property Awards are all part of the International Property Awards and have also ceased offering this category for the 2017 cycle. So the change is reflective of a broader rationalisation by the International Property Awards to ensure the awards continue to reflect current market trends, property demand and conditions under which projects compete.
We had anticipated this move in 2015 and taken steps to advise clients to take advantage of the opportunity before the changes that have now occurred take place. Winning an award is equally about strategy and knowledge as it is about other aspects like exceptional photography, presentation and thoroughness.