The City of Frankfurt has bestowed The International Highrise Award every two years since 2004. It was jointly initiated in 2003 by the City of Frankfurt, Deutsches Architekturmuseum and DekaBank. It has since been organized by Deutsches Architekturmuseum and DekaBank cooperating as partners, and in 2016 will be bestowed for the seventh time. The honor is awarded to a structure that combines exemplary sustainability, external shape and internal spatial quality, not to mention social aspects, to create a model design. The prize, a statuette by the internationally renowned artist Thomas Demand and EUR 50,000 is awarded to the planners and developers jointly.