Bahrain's Pegasus Real Estate has been voted as the world's best for marketing a property development.

The honour came during a gala banquet at the Lancaster London Hotel, where company managing director Aziz Mithaiwala received the International Property Awards' (IPA) accolade.

'It is an absolute privilege to be honoured with such a coveted recognition,' said Mithaiwala.

'We are extremely pleased with our achievement, which is first honour for Bahrain.

'Since this award recognises the winners as the world's best, it is of great pride for us to be one of them.'

Pegasus is the only company to have won from Bahrain and among the two from the Gulf region, facing competition from scores of others from around the globe who competed for the 'world's best' title in various categories.

More than 500 leading property professionals were present at the event, organised by IPA, in association with Bloomberg Television.

IPA chairman Stuart Shield said that in their quest to find the most outstanding projects and property professionals from around the world, they were fascinated to discover that the total value of the award winning projects was more than $100 billion.

'The fact that Pegasus has won one of these coveted awards is proof that Bahrain has proved itself as being capable of triumphing within the highly competitive international property arena.'

Among the judges for this year's event were Google UK property markets industry head Luke McKend, National Federation of Property Professionals group chief executive Peter Bolton King and International Real Estate Federation president-elect Christopher Hall.

The awards cover both residential and commercial categories.

Top scoring entries from all the different regions (Arab region, the UK, Asia Pacific, the Americas, Europe and Africa) are re-judged to find the ultimate world's best in each category.

VIP guests attending the presentations included ministers, ambassadors and diplomats, among others.

Last month, the company had been presented an award for being the Arab region's best real estate agency and the best property consultancy in marketing.

These were announced after an industry-wide competition organised by the Arabian Property Awards, in association with Bloomberg Television.-TradeArabia News Service