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. Last Updated: 07/27/2016

And the Next Golden Brick Goes to ...

As the three-hour Moscow Commercial Real Estate awards ceremony drew to a close with a rousing rendition of Tina Turner's anthemic "Simply the Best," some of the dancing property developers seemed a lot less stable than the buildings they've constructed.

Better known for its girders than its glamour, Moscow's real estate sector celebrated the industry's equivalent of the Oscars on Thursday evening.

Maybe not quite the rock-and-roll razzmatazz of the MTV awards hosted by Pamela Anderson across town, the fourth edition of the awards ceremony still managed to attract around 1,000 of Moscow's real estate elite.

Intended to celebrate the achievements of the people who shape the city's landscape, the event was a mixture of the impressive and the incongruous.

In the cavernous Pavilion 8 at the Expocenter near the Moskva-City development, half-naked male drummers in hard hats, pyrotechnics and fountain displays, and green and pink strobe lights accompanied a seven-course meal of foie gras, scallops and a torrent of Chardonnay.

"The whole evening has been a good, colorful, entertaining and professional event," said Michael Lange, chairman of Jones Lang LaSalle, which scooped the consultants of the year award.

Since its inception in 2004, the CRE awards have gone from strength to strength as the Moscow real estate market has flourished, guests and organizers agreed.

In his inaugural speech, Deputy Mayor Iosif Ordzhonikidze stressed the importance of the real estate sector and the rising influx of investment into the city.

"Moscow is constantly growing, and we still require a lot more investment," he said.

Announced to a barrage of ear-splitting music and presented with trophies shaped like golden building bricks and certificates, notable winners of the evening included developer Forum Properties, real estate consultant Jones Lang LaSalle and retailer Ramstore.

Guests said many of the eventual winners were to be expected.

"The best in show for the CRE Awards was definitely taken by Forum Properties, who have developed some of the best office buildings on the market," said David Cohen, a senior analyst at Cushman & Wakefield Stiles & Riabokobylko.

"It was pretty easy to predict that they would win the award for best developer since two of the three nominees for best Class-A office were built by Forum." he said.

In other categories, the Ritz Carlton claimed the prize for best hotel development. Best office architect went to a consortium between Skidmore, Owings and Merrill and ABV Group for Ducat Place III, while Sistema-Hals' initial public offering on the London Stock Exchange took the award for deal of the year.

The personality of the year award went to Erkan Erkek, CEO of Capital Partners.

The winners of each award are chosen by juries made up of leading industry experts. "There is really something behind it, and it's not just another award," Lange said.

The increasing importance of the event is also emblematic of the surging real estate market in the city, guests said.

"The real estate industry is growing and evolving at breakneck speed here in Moscow, and I think we should be doing more as a business community to recognize those individuals and companies setting the pace," said Mark Stiles, general director and head of capital markets at Cushman & Wakefield.

Beyond the glamour of the night, the awards serve a useful purpose as they help to standardize the industry by offering objective levels of quality and making it more transparent, said Annette Wassenaar, managing director of the event's organizer Impress Media.

"It's an event that consolidates the opinions of the experts," she said.