Real estate firm Vingroup Joint Stock Co was announced as the winner of the “Best Developer Vietnam” category at the fourth annual South East Asia Property Awards 2014, which took place in Singapore last week.

The Hanoi-based firm, which is Vietnam's largest listed real estate developer, received the award during a ceremony at The Shangri-La Hotel on October 16, which gathered many regional leading figures in real estate, architecture and design, according to the Asia Property Awards website.

The Asia Property Awards works to showcase the Asian real estate industry, boosting awareness and highlighting top quality developers, projects and services, according to its website.

Vingroup is the developer of many high-end properties including Vincom Center Long Bien and Vincom Center Ba Trieu in Hanoi, and Vincom Center B and the Vincom Financial Tower in Ho Chi Minh City.

Besides announcing winners for 31 categories, the Asia Property Awards also named the “Highly Commended” firms in each category.

Nam Long Investment Corporation and Viet Hung Urban Development and Investment JSC are the “Highly Commended” developers in the “Best Developer Vietnam” category.

Other award-winning Vietnamese companies include VinaCapital, Cam Ranh Tourism Development Corporation, and Viet Hung Urban Development and Investment.

VinaCapital won “Special Recognition in Corporate Social Responsibility,” while Cam Ranh Tourism Development Corporation won both “Best Residential Interior Design” and “Best Villa Development” for its Mia Resort Nha Trang Residence Vietnam.

Viet Hung Urban Development and Investment was honored as the “Best Condo Development” for its Rung Co Apartments.

The Asia Property Awards said these companies have been granted the “most prestigious industry accolades,” after more than six months of comprehensive deliberation and site visits across Southeast Asia.

The awards were presented to “the best developers, developments, design and real estate personality of the region” by Ensign Media, organizers of the Awards and publishers of industry-leading Property Report Magazine, according to its website.

The South East Asia Property Awards, covering Indonesia, the Philippines, Malaysia, Singapore, Thailand and Vietnam, is one of the two strands of the Asia Property Awards.

The other is The China Property Awards, which will recognize companies from China, Hong Kong and Macau during its inaugural awards ceremony slated for November 20 in Hong Kong.

This is the second year in a row Vingroup was named “Best Developer Vietnam” by the Asia Property Awards.

In the eight months ending on August 31, Vingroup's sales rate improved to around 90 percent of apartment launches, up from the 70 percent to 80 percent of 2013, according to Fitch Ratings.

Fitch expects Vingroup to maintain this sales rate due to a stronger macroeconomic environment and new project launches, the global rating agency said earlier this month.