What To Know
- This dominance falls in line with the current increase in the branded residence sector, which stands to be 1,530 projects around the globe within the same year, according to savills, global residential development consultancy.
- The 140 projects underway in Dubai demonstrate that the emirate has the capacity to woo international brands and to satisfy the needs of a global customer base.
- Vietnam and Thailand Asian-Pacific markets look to overtake North America but for the foreseeable future Dubai has the right strategic location and consistent record of profitability that assures it of continuing to exert a lock on this highly profitable market.
Dubai has well established itself as the world’s premier branded residential real estate market with another 140 super-prime schemes still in the pipeline for delivery by 2031. This dominance falls in line with the current increase in the branded residence sector, which stands to be 1,530 projects around the globe within the same year, according to savills, global residential development consultancy.
Dubai: A Hub for Luxury Living
Dubai’s real estate market looks brighter than many global cities including Miami, New York, and London by reflecting the luxury lifestyle brand appeal, connectivity advantage, and architectural creativity. While there is currently 740 branded residences in the world, another 790 are expected to be developed by 2031. The 140 projects underway in Dubai demonstrate that the emirate has the capacity to woo international brands and to satisfy the needs of a global customer base.
Thus these branded residences are from 5 star hotel branded project to designer branded projects helping the high net worth buyers and investors.
Unmatched Regional Growth
The Middle East specifically is expected to record a stunning 270% penetration of the branded residences, with Dubai firmly in the lead. Andrew Cummings, the Head of Residential Agency, Middle East, acknowledged Dubai’s advantages; He said, “What Dubai offers cannot be offered any other place with such qualitative aspects such as luxurious amenities, innovative and sophisticated distinctive architectural designs, as well as high-quality services investors and users can identify with.”
Trends in branded residences around the world
Worldwide, hotel-branded residences account for 79 percent of all projects; Marriott International, The Ritz-Carlton among top players. Other brands that are not of hotels such as YOO are also on the rise demonstrating versatility.
Therefore, while branded real estate is spearheading diversified expansions to Romania and Tanzania, among other markets, Dubai’s high end infrastructure and melting population silhouette guarantee unchallenged leadership. Vietnam and Thailand Asian-Pacific markets look to overtake North America but for the foreseeable future Dubai has the right strategic location and consistent record of profitability that assures it of continuing to exert a lock on this highly profitable market.
