Tourism and Culture Minister Datuk Seri Mohamed Nazri Abdul Aziz called on property developers to be vigilant in their cost measures in order to ensure that properties remain attractive following the implementation of the goods and service tax (GST).

As responsible property developers, they should take the lead in addressing problems of overdevelopment, he said at yesterday's Malaysia Property Insight Prestigious Developer Awards 2015.

"I hope the social responsibility of developers to continue helping the Government in achieving progress by offering quality and affordable products to the masses will continue.”

He noted that the inaugural award acknowledges and highlights the quality developments of Malaysia's best property developers, including their landmark projects aimed at helping the country achieve First World nation status by 2020.

Among the top 10 developers are MKH Bhd, Glomac Bhd, Gamuda Land Sdn Bhd, Mah Sing Group Bhd and IJM Land Bhd.

Completing the list are Sime Darby Property Bhd, Tropicana Corporation Bhd, Sunway Bhd, UOA Development Bhd and UEM Sunrise Bhd.

Malaysia Building Society Bhd clinched the Most Innovative Financier award while I&P Group's Datuk Jamaludin Osman received the personality of the year award.