Sonae Sierra wins Green Thinker Award

Portuguese retail developer Sonae Sierra is the winner of the first Green Thinker Award. The prize - a sculpture by Dutch artist David Veldhoen entitled Weight of Thoughts - was presented yesterday evening to the company's CEO Alvaro Portela at a special ceremony held at EXPO REAL in Munich.

In their report, the jury said they were 'very impressed' with the level of commitment to sustainability from European developers. Commenting on the 14 contenders, jury member Graeme Newell, professor of real estate investment at the University of Sydney, said that each one was doing 'wonderful things'. 'But what we were looking for is a commitment at all levels of the organisation that goes beyond straight compliance. Sonae Sierra is absolutely outstanding in all dimensions. The strategy comes through at all levels and is well thought-out.'

The two other contenders which made it to the final round are UK-based Land Securities and Germany's Hochtief Development, a subsidiary of construction concern Hochtief. 'Land Securities is also clearly an international leader in the field of sustainability with a high level of commitment and eye for detail,' said jury member Louise Ellison, research director at the Investment Property Forum in London. Rotterdam-based OVG won the 'encouragement award' for its innovativeness and multilevel vision. Newell: 'It's a small company, but it's impressive what it's doing. It's doing some very good things. That should be supported.'

The Green Thinker Award, an initiative of EXPO REAL in association with PropertyEU, honours the real estate development company with the greenest strategy in Europe. The green statements and photos of the CEOs and sustainability directors of the 14 contenders are on show at EXPO REAL at the Green Thinker Lounge.