For the first time in 2012, the ULI Global Awards for Excellence will honor development projects from across the globe in a single competition, rather than separate winners by region. The international competition will be overseen by a jury composed of ULI members from around the world who are recognized leaders in their field.

In its 34th year, the ULI Awards program is the centerpiece of ULI's efforts to identify and promote best practices in all types of real estate development. The awards recognize the full development process of a project—construction, economic viability, marketing, and management—as well as design.

Finalists and winners are celebrated at awards ceremonies held in conjunction with the ULI Spring Council Forum. Each winner receives a jewel-quality, 12-inch (30 cm) polished stainless steel cube, engraved with the jury's official statement about the winning project. Further recognition of winners includes profiles of them in a lavishly illustrated book distributed worldwide, as well as press releases and announcements in Urban Land magazine and on ULI's website.