REAL ESTATE AWARDS 2023
RULES (REGLEMENT) - 1ST DECEMBER 2022
1. THE ORGANIZER
The entity LuxReal - Real Estate Association of Luxembourg a.s.b.l., a Luxembourg non-profit association established and having its registered office at 38, Rue Arthur Herchen, L-1727 Luxembourg, registered with the Luxembourg Trade and Companies Register under number F 8097 ("LuxReal") (the "Organizer"), is organizing the Real Estate Awards 2023 (the "Awards") consisting in a competition (the "Competition") taking place from 1st December 2022 to 27th September 2023 (the "Duration").
The Awards consist in submitting applications in order to win the Trophies (the "Trophies") designated in Article 5 of the rules of this Competition (the "Rules").
3. CONDITIONS OF PARTICIPATION
3.1 Participation implies the full, complete and unreserved acceptance of these Rules by the participants (the "Participants" and each individually a "Participant"), including all and any amendments thereto.
3.2 Participation is open to any legal or natural person (above the age of 18) who is active in the real estate industry generally. When applying, the Participant must designate (i) one or several buildings (each individually a "Building") and/or one or several real estate investment funds (each individually a "Fund") (Buildings and Funds jointly referred to as the projects (the "Projects") and (ii) the category(ies) for which the application is made.
Organizer reserves the right to request Participants to provide any and all
information and documents the Organizer may deem necessary in order to access
the Competition. Participants who do not meet various conditions expressed in
these Rules and/or who refuse to provide such information or documents will be
automatically excluded from the Competition and will not be entitled to any
Trophy or compensation of any kind.
3.4 To enter the Competition, Participants must provide the following information and elements:
(a) A duly completed registration form, in English, as available online on the LuxReal website: (http://www.luxreal.lu/);
(b) Concomitantly with the submission of the registration form, the Participant must pay the registration fee of EUR 400.- per Project submitted by the Participant (the "Registration Fee") by bank transfer to the following account: LU27 0022 1928 5171 4200;
(c) The Organizer reserves the right to cancel the registration of a Participant if the Entry Fee has not been paid within fifteen (15) calendar days of the submission of the registration form and at the latest by the Deadline (as this term is defined in Article 3.5 of these Rules);
(d) The Entry Fee is not refundable to Participants, regardless of the results of the selection of the Jury (as such terms is defined below), the evolution of the Covid-19 situation or any other event of force majeure that could cancel, delay or interrupt the Competition, as indicated in Article 8 of these Rules;
(e) Buildings or Funds, as the case may be, must be eligible for one of the Categories described in Article 4.1 below;
(f) The same Participant is entitled to submit an application for several Categories, indicating, for each Building and/or Fund, the Category in which the latter competes;
two or more Participants designate the same Building or Fund, these
Participants must agree between them who shall be the Participant being
authorized to compete or alternatively, submit a joint application file in
relation to this Building or this Fund;
3.5 All required information must be completed by Participants in order to participate and be eligible to win the Trophy, no later than May 15th, 2023 at 11:59 p.m. (the "Deadline"). Incomplete registrations and/or registrations submitted after the Deadline will be rejected or accepted by the Organizer under its sole discretion.
3.6 Every Participant who designates a Building or a Fund warrants to the Organizer that he is authorized to do so, that he has all necessary authorizations and that he owns all necessary rights. The Participant also guarantees that he does not infringe the rights of third parties, the right to privacy or the image of anyone and that the designation of the Building or of the Fund does not violate any law, legal or regulatory provision in Luxembourg or abroad or any contractual provision by which the Participant is bound. The Participant undertakes to hold harmless and to indemnify the Organizer for all and every damages which may be suffered by the Organizer should any of the above declarations and/or warranties be untrue or incorrect and, in particular, but without limitation, if he has designated a Building or a Fund without having the necessary rights and authorizations to do so.
3.7 The Organizer reserves the right to cancel the registration of a Participant who does not comply with the conditions of participation mentioned above and/or the provisions of these Rules.
4. CATEGORIES OF ELIGIBLE BUILDINGS
4.1 Participants will be entitled to designate one or more Buildings or Funds meeting the following categories (the "Categories" and each individually a "Category"):
(a) Building Category
To be eligible in this Category, the completion date of the Building must be between January 1, 2019 and December 31, 2022.
This Category includes residential buildings with a share of residential units of at least 80%. Affordable residential projects developed by a private developer or the public sector can be designated in this Category.
This Category includes offices buildings with a share of offices spaces of at least 80%. It is only valid for complete building blocks.
Retail & Mixed Use Building
This Category includes all sizes and types of retail projects (Pop up Stores, food, fashion, lifestyle, horeca, etc.) and rewards the best store concept and all mixed-use buildings with at least three different uses/functions that are physically and functionally integrated. Any particular use may not exceed 50% of the entire building. Please note that shopping malls are not included in this Category (they must be presented in the Best Special Projects & Other Uses Building Category).
This Category presents projects or buildings incorporating renewable and recycled resources, with high energy efficiency, using ecological and certified green materials.
Special Projects & Other Usages Building
This Category is open to projects or buildings that do not fall into another category. For example, a hotel and service apartment, a hospital, an airport, a train station, a university, a school, a shopping center.
(b) Real Estate Fund Category
This Category is intended for Funds and their managers domiciled in Luxembourg. The Fund must have been launched between 1 January 2019 and 31 December 2022, and must offer real innovation in its strategy and/or structure (targeted asset classes, format and structure, allocation model, performance and risks).
This Category aims to recognise and reward a manager who has launched, between 1 January 2019 and 31 December 2022, a Fund that is domiciled in Luxembourg with a strong ESG strategy on environmental, governance or social aspects.
It must demonstrate its excellence on the
subject and its good practices (definition of objectives, reporting,
(c) Best Personal Contribution Category/LuxReal Personality of the Year Award
This Category aims to honour the person of the Year 2022 in terms of outstanding contribution to the Luxembourg real estate industry (the "Real Estate Personality of the Year 2022"). LuxReal's Supporting Members will be invited to submit in the timeframe and in the manner designated by the Organizer the name of the person they consider to best represent the Real Estate Personality of the Year 2022.
5.1 Subject to meeting all the conditions of participation and having designated one or more Buildings or Funds eligible for one of the Categories described in Article 4 of these Rules, Participants may try to win one of the Trophies. There will be one Trophy for each Category of the Competition.
5.2 The designation of the Winner (as this term is defined in Article 7.1 of these Rules) of the Trophy of Real Estate Personality of the Year 2022 will be made by the Jury (as defined in Article 6 of these Rules) according to the provisions of Article 7.
5.3 The Winner of any of the aforementioned Trophies will be entitled to request additional copies of the Trophy subject to compensating the Organizer for the costs of producing such copies.
6. THE JURY
6.1 All applications submitted before the Deadline and which comply with the Rules will be submitted by the Organizer to the jury (the "Jury").
6.2 The Jury is an independent body composed of at least 11 members, being natural persons with recognized skills and experience in the real estate sector in the Grand Duchy of Luxembourg (the "Jury Members").
6.3 At its first meeting, the Jury shall elect among the Jury Members a designated President (the "President of the Jury").
6.4 The President of the Jury must chair the meeting of the Jury to analyse the applications presented to the Competition. In his/her absence, the Jury may appoint another Member of the Jury as temporary President by a decision adopted by a majority of the Members of the Jury present.
6.5 The Jury may validly deliberate or act only if at least a majority of the Jury Members are present.
6.6 Decisions are taken by a majority vote of the Jury Members present at the meeting. In the event of a tie, the President of the Jury shall have a casting vote.
6.7 Any Jury Member who has, directly or indirectly, an interest in a Building or in a Fund designated by an Applicant must inform the Jury of this conflict of interest. The Member of the Jury concerned will not take part in the discussions nor in the vote relating thereto.
6.8 The Jury will analyse the applications in each Category on the basis of factual and objective criteria, without this criteria being exhaustive.
6.9 The Jury will be entitled to transfer an application submitted by a Participant to a Category different from the one initially selected by the Participant if the Jury deems, at its own discretion, that the said Category is more suitable. The Participant will be notified of this transfer by email.
6.10 The Jury reserves the right not to examine an application if it considers, at its discretion, that the said application submitted is incomplete and/or that the Building and/or the Fund designated by the relevant Applicant does not meet one or more of the aforementioned Evaluation Criteria. This decision of the Jury will be final and must not be justified. In such a case, the Registration Fee will not be refunded.
6.11 The deliberations of the Jury will be secret. In designating Finalists and Winners (as defined below) the Jury will remain free to assess and weigh the Evaluation Criteria set out in Article 6.9 above in its sole discretion.
7. DESIGNATION OF FINALISTS AND WINNERS
7.1 The Jury will designate up to 5 (five) finalists in each of the Categories likely to win the Trophy for each of these Categories (the "Finalists" and each individually a "Finalist"). The Jury will also select 1 (one) winner for each of these Categories (the "Winners" and each individually a "Winner").
7.2 The Jury will also designate a Winner for the Real Estate Personality of the Year Trophy. Although the number of votes received from LuxReal's Supporting Members will be a key element (and a determining factor) taking into account by the Jury, the right to designate the Winner of the Real Estate Personality of the Year 2022 remains at the discretion of the Jury.
Jury's decision on the aforementioned Finalists and Winners will be
discretionary, definitive and final. It shall not justify its selection of
Finalists and Winners and the decision may not be appealed.
7.4 The Finalists will be notified by the Organizer, by personal message, of their selection no later than 30 March 2023] and they will be invited to participate in a trophy ceremony (the "Ceremony") by purchasing a table (10 people) or half table (5 people) from Paperjam + Delano Club which will take place on Wednesday 27th September 2023 at 6.00 pm at Casino 2000, Casino 2000, 5 Rue Flammang L-5618 Mondorf-les-Bains.
Service fees / Cost for Finalists (for Paperjam + Delano Business Club members / LuxReal members)
Table 10 people EUR 2 250 (HT)
Half table 5 people EUR 1 125 (HT)
Service fees / Cost for Finalists (for non-members of Paperjam + Delano Business Club / LuxReal)
Table 10 people EUR 2 500 (HT)
Half table 5 people EUR 1 250 (HT)
7.5 During the Ceremony, the Finalists and the Winners will be announced by the Jury and they will take possession of the Trophy(s) concerned for the relevant Category. By registering the project, the applicant agrees, in the event of being selected as Finalist, to be present at the Ceremony by purchasing a table (10 people) or half table (5 people) from Paperjam + Delano Club. The ceremony is a good way to increase the visibility and notoriety of each finalist.
7.6 Participants hereby agree, if they are Winners, to participate and cooperate fully with the Organizer in carrying out reasonable publicity and using their name, photograph as well as firm logos, projects pictures without any compensation being due.
8. MODIFICATION AND DELETION
8.1 The Organizer reserves the right to modify, shorten, extend or cancel the Competition if it believes that unforeseeable circumstances or circumstances beyond its control requires it to do so.
8.2 The Organizer cannot be held responsible if, for reasons beyond its control, the Competition should be interrupted, postponed or cancelled. In this case, no claim to engage the responsibility of the Organizer will be admissible. Participants will not be entitled to any compensation or reimbursement of the Registration Fee.
9. PUBLICITY OF THE CONTEST
The Rules of this Competition are available on the website of LuxReal.
10. APPLICABLE LAW - ATTRIBUTION OF JURISDICTION
10.1 The Rules are governed by Luxembourg law.
10.2 Any dispute or dispute to which the Rules may give rise and in particular for its interpretation and/or execution, will be subject to the exclusive jurisdiction of the District Court of Luxembourg.
11. PERSONAL DATA
As part of the Competition, Participants will be required to transmit certain personal data, namely their surname, first name, company name and e-mail address.
The personal data collected in the context of this Competition will be processed in accordance with the provisions of the Luxembourg law of 1 August 2018 on the organisation of the National Commission for Data Protection (the "2018 Law") and implementation of Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation or "GDPR").
All information that entrants share with the
Organizer and the Jury will be kept securely in connection with the provisions
of the 2018 Act and GDPR and used only in accordance with the provisions of