In recognition of the importance of property development to the economy and the community in which it serves, Sapoa annually honours developers and owners who, through the quality of their products, have contributed to the enhancement of the property industry.

Sapoa said the design of uShaka Marine World proved to be an "exciting and challenging" mix between hi-tech service components of "predominantly subterranean pump and life-support infrastructure" as well as extensively themed architectural and landscaped aspects.

The four primary components of the project - an oceanarium, water park, a retail village and the linkes with the beachfront are operated separately but under the guidance of one management authority.

Durban Marine Theme Park is the owner and the project was developed by project directors Moreland Developments and development managers Mirage Leisure & Development.

BP Africa's corporate head office at the V&A Waterfront in Cape Town won the office developments category; Clearwater Mall in Gauteng the retail developments category; and Fresenius Kabi Pharmaceuticals head office in Midrand north of Johannesburg won the industrial development category.

Old Mutual Heights, the residential conversion of Old Mutual's former headquarters in Cape Town, won in the refurbishments category, while uShaka Marine World won the other developments category.

Absa and listed property funds Pangbourne and iFour won the innovative solutions category for a debt securitisation programme called PROPS, which was launched last year.