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Indicator – Economy – Hungarian real estate development is at the forefront of the world

Indicator – Economy – Hungarian real estate development is at the forefront of the world

According to tradition, XXIV. The winners of the Hungarian Real Estate Development Competition participated in the international competition. The success of previous years has been continued by the Hungarian developers, who won five second prizes in this year’s competition.

The international jury highly appreciated the fact that Hungarian real estate developers take a keen interest in renovating and bringing heritage buildings back to life. Experts praised the new facilities’ outstanding technical standards, use of environmentally friendly technologies, and recognized the facilities’ social benefit.

More than seventy years ago

Founded in 1951 and active in more than 60 countries, FIABCI, headquartered in Paris, organizes the International Prize for Excellence in Real Estate Development (FIABCI World Prix d’Excellence) every year, the purpose of which is to select and recognize the most successful real estate projects.

Launched 30 years ago, FIABCI World Prix d’Excellence is the most prestigious real estate development competition in the world, in which real estate developers from 37 countries on five continents have successfully participated. This year, 63 highly regarded professionals from 31 countries participated in the international jury, representing every private sector of the real estate development profession.

The main aspects of evaluation are: the concept and results of real estate development, the quality of architectural and urban design, the quality of implementation and the duration of implementation. In addition, they evaluate the sales and leasing effectiveness, as well as the environmental protection and social benefit aspects of real estate development.

It also starts in Hungary

Realizing the importance of the competition, Brazil and Malaysia, and then Hungary, announced their own National Real Estate Development Prize competition with the aim of having the winners represent their countries in the FIABCI World Prix d’Excellence. Today, more than 20 countries organize their own national tenders based on similar considerations.

In the past 25 years, Hungarian real estate developers have won 32 first and 41 second prizes at the FIABCI World Prix d’Excellence in various categories, ahead of all European countries.