The iconic mixed development, The Bay, has been recognized by the International Property Awards program as the best commercial development in the Asia-Pacific region in two categories; mixed-development and residential development (multiple units) for 2015-2016.
This US$500 million mixed hotel-condominium project on Phnom Penh’s Chroy Changvar peninsular is being developed by Singapore-based TEHO-SBG Development Co., Ltd. The Developer told Construction and Property Magazine that the award’s selection committee informed the company of their victory in February with the formal gala awards event scheduled to take place in Kuala Lumpur in May this year.
The Bay’s outstanding criteria which landed it the awards included being the tallest building in Phnom Penh at 53 floors on completion in 2019, and its iconic design whose innovative functionality centers on its lighting and ventilation. “It is a design that Cambodia has never seen before given the colonial types of architecture in the region,” TEHO explained.
Receiving the awards will create greater global confidence in the developer which will boost sale, enhance motivation and morale, and build an international reputation through the worldwide media coverage.
According to the organizers of the International Property Awards, earning an award in any of their categories is a world-renowned mark of excellence. TEHO agreed saying, “This has helped us to show that The Bay is no ordinary feat of architecture, but one that is truly a masterpiece.”