Sime Darby Property chief marketing and sales officer Datuk Lai Shu Wei (second left) receiving the trophy from Housing and Local Government Minister Nga
Kor Ming as FIABCI Malaysia president Yu Kee Su (left) and SMG group chief executive officer Chan Seng Fatt look on.

Sunsuria chief project officer Wong Chiew Meng with his trophy.

116 listed property companies selected for top recognition

The Malaysia Developers Awards (MDA) 2024 aims to honour outstanding property developers for their pivotal role in advancing the industry and nation. This prestigious accolade, which assesses companies based on both quantitative and qualitative metrics, is divided into two main categories: Top-of-the-Charts (TOTC) and Special Awards.

Top-of-the-Charts focuses on property companies listed on Bursa Malaysia and rankings are released annually. Importantly, every company listed under Bursa Malaysia's property sector is automatically considered, ensuring a comprehensive evaluation. For larger conglomerates, only their property divisions are assessed.

Categorisation by market capitalisation

To provide a clearer distinction, the TOTC awards are split into two tiers based on market capitalisation as of July 15, 2024:

• Top 10 (RM1bil and above)
• Top 10 (below RM1bil)

A rigorous selection process

This year, the selection criteria have been further refined following a detailed post-mortem analysis by the MDA’s organising committee. The focus is now on pinpointing truly high-performing property developers.

The TOTC evaluation is divided into quantitative and qualitative components, each accounting for 50% of the total score. This dual approach ensures a well-rounded assessment of company performance.

Quantitative assessment: Focus on performance

The quantitative component, which evaluates four key attributes — Revenue Growth, Profit Growth, Stability and Sustainability — has been fine-tuned to better reflect a company’s financial health. This category emphasises long-term success over short-term gains, ensuring that only those developers with consistent and stable growth earn the highest rankings.

For this year’s awards, companies’ revenue performance was measured from 2021 to 2023, with 2020 serving as the base year. Companies that demonstrated steady year-on-year revenue increases and sustained growth over the three-year period were awarded points. A modified Compound Annual Growth Rate (CAGR) formula was used to ensure a level playing field, rewarding both absolute and percentage-based growth.

A notable example includes Sime Darby Property Bhd, which secured the top spot in the RM1bil and above category due to consistent revenue growth and a strong CAGR score. Similarly, Sunsuria Bhd emerged as the top performer in the below RM1bil category, achieving three consecutive years of positive revenue growth.

Qualitative assessment: Innovation and sustainability take centrestage

On the qualitative side, the focus has shifted to forward-thinking initiatives, with increased emphasis on Environmental, Social and Governance (ESG) Initiatives, Placemaking Ingenuity and Creative Digitalisation. This half of the score underscores the industry’s growing recognition of the importance of sustainability and innovation in shaping the future of property development.

This year’s MDA introduced a hybrid evaluation system where companies no longer need to submit entries. Instead, a holistic assessment of listed property developers is conducted. A total of 29 property developers were shortlisted in the RM1bil and above category while 87 developers were evaluated in the below RM1bil tier.

TOTC Revenue Growth attribute: A deeper dive

The Revenue Growth attribute — one of the core quantitative components — rewards companies for consistent performance over a three-year period. Companies like Sime Darby Property Bhd and Sunsuria Bhd, which showed sustained positive revenue growth across all years, were recognised for their resilience and growth potential. The modified CAGR formula ensured that companies of all sizes were fairly assessed, levelling the playing field for smaller firms competing with larger, more established players.

By tightening the selection criteria and focusing on both financial stability and innovative practices, MDA 2024 aims to spotlight property developers that are not only thriving in the present but are also poised for future success. This year's honourees set the benchmark for excellence, sustainability and long-term growth in Malaysia’s dynamic property sector.

Ranking by revenue growth

Ranking by revenue growth

Stay ahead of the crowd and enjoy fresh insights on real estate, property development, and lifestyle trends when you subscribe to our newsletter and follow us on social media.