The Aga Khan Award for Architecture (AKAA) was established by His Highness the Aga Khan in 1977 to identify and encourage building concepts that successfully address the needs and aspirations of Islamic societies. It is presented in three year cycles to multiple projects and is the largest architectural award in the world, with prizes totalling up to US$ 500,000. The Award is also unique in its approach, recognizing projects, teams and stakeholders rather than buildings and personalities.