On the 29th, Lotte World Tower and Mall announced that they received two top awards (5 Stars rating) in the development institutional sector at the 2025 International Property Awards (IPA) held in Bangkok, Thailand, on the 16th, and were selected as the 'Best Development Project in Korea.'
IPA is a global real estate awards ceremony that began in the UK in 1993, recognizing innovative and outstanding projects in various categories, including architecture, development, interior design, and real estate. Over 40 countries participate from five regions worldwide, including Asia Pacific and Europe, and various real estate experts comprehensively evaluate candidates based on innovation, originality, and sustainability.
At this awards ceremony, Lotte World Tower and Mall received the highest award (5 Stars rating) in two fields: 'Masterplan' and 'Sustainable Commercial Development.' The newly established 'Masterplan' evaluates the suitability of development location and design innovation elements. Lotte World Tower and Mall was recognized for overcoming the limits of high-rise construction and its strengths as a mixed-use facility comprising workplaces, residences, accommodations, retail, and cultural facilities.
'Sustainable Commercial Development' evaluates the suitability in the eco-friendly sector. Lotte World Tower and Mall was selected as the award-winning project due to its high utilization rate of renewable energy and ongoing implementation of quality improvement measures for Seokchon Lake.
With this award, Lotte World Tower and Mall was nominated as a candidate for the Asia Pacific regional awards ceremony. It competes with world-class development projects such as Hangzhou Ping An Finance Center and CitraLand in Indonesia. The regional awards ceremony will be held this winter in London, UK, and winning in the regional institutional sector will nominate them for the final round of the global awards ceremony to determine the best.
Jang Jae-hoon, CEO of Lotte Properties, said, 'It is significant that our expertise and capabilities have been recognized at a prestigious awards ceremony in the real estate sector,' adding, 'We will continue our efforts to grow as a global real estate corporations.'