According to a recent report by property consultancy Global Branded Residences (GBR), the branded residences sector in Dubai has experienced a significant growth of 410% over the past 10 years, increasing from ten projects in 2014 to 51 projects currently operating. In the last five years alone, the sector has grown by 122%, rising from 23 to 51 projects. Dubai is now recognized as the leading destination globally for branded residences showcasing the remarkable expansion of this market sector in the Emirates.
According to the stats in the above report, the number of branded residences in Dubai is set to double over the next five years.
Dubai which is known as the commercial, financial, and aviation center of the Middle East has been recognized as an attractive destination for global potential investors looking for opportunities to invest in branded residences.
The increasing demand for branded residences encourages developers and renowned brands to collaborate and launch new projects. Global Branded Residences (GBR) said in its, Future of Branded Residences, report that a further 70 more projects are planned to be launched in 2028, most of them which will be non-hotel related.
There are many reasons; why luxury-branded residences are popular in Dubai. In this article, we have highlighted the key factors that exactly drive the popularity of branded residences in Dubai.
What are Branded Residences in Dubai?
Branded residences are high-end residential developments associated with well-known brands from various industries. These brands could be luxury hotels, fashion labels, supercar manufacturers, or renowned designers. These properties, often associated with iconic names like Armani, Versace, and Bulgari offer high-class living standards, unparalleled lifestyle, and top-notch amenities to the residents.
Key Reasons Behind The Popularity Of Branded Residences In Dubai
The founder and director of GBR, Riyan Itani, said, “The availability of land and relative freedom when it comes to design and build are the reasons for Dubai’s branded residences popularity.”
Moreover, he said, “Developers are able to build exactly what they want, almost where they want, and at the scale, they want, which means that compared to, for example, historic European cities like London or Paris or Madrid or indeed New York, the level of constraint on land is much less.”
Mr. Itani said that branded residences, however, are not necessarily dependent on market trends and do need to be launched in buoyant market cycles to be successful.
“Anecdotally speaking, branded residences perform much better compared to non-branded residences in poor market conditions, because of a mix of things,” he said.
Let's explore the key factors behind the popularity of branded residences in Dubai.
High Demand For Luxury Living
Dubai is a city of opulent and elite-class individuals. It attracts influential and attractive people from all over the world. These people are famous politicians, celebrities, and business tycoons from across the globe. They have a demand for not just a home but an ultra-luxurious lifestyle and high-end facilities of life. Luxury branded residences in Dubai are here to meet their expectations and needs. These properties fulfill the demand for the sophisticated life of the elite class. Dubai serves as a magnet for the elite class so the population of the high-class people is increasing and enhancing the demand of branded residences to enjoy the luxurious lifestyle.
Brand Recognition And Trust
Dubai is a real estate hub, with bundles of properties and tons of residential communities that offer each type of property including apartments, villas, townhouses, penthouses, flats, or any other properties. Specific communities in Dubai are associated with the type of properties as some communities are known as villa communities and some are famous for apartments and high-rise buildings.
With so many options available in the market, creates confusion and doubt for investors or homebuyers. Working with these famous luxury brands gives these properties a mark of trust and prestige. Buyers trust that these brands are exceptional in providing excellent designs, high-quality construction materials, and top-notch amenities. Branded residences develop trust and attract many prospective investors.
Unique Lifestyle And Amenities
Luxury-branded residences are exceptional in providing unique lifestyles and facilities that are beyond your expectations. The lifestyle in these properties is recognized by the name of the brand associated with the property. Every brand tries to deliver something exceptional, unique, and out of the box that sets it apart from other brands. The branded properties include special features; personal concierge services, private pools, top-quality spas, and fine dining options.
Prime Location
The prime location for luxury branded residences in Dubai is the key factor of their popularity. These properties are situated in the desirable locations of the city. The prime locations of these properties give stunning views of the city and are close to business centers. The shopping centers, entertainment venues, recreational parks, dining options, and sports courts are located near these exceptional communities.
Innovative Architecture And Design
Innovative architecture and unique designs of the buildings are the special features of Dubai’s real estate properties. These properties are equipped with the latest amenities and technologies, making them an ideal choice for modern living. They are also safe and secure, offering peace of mind to residents. Luxury-branded residences reflect these amazing features and attract buyers.
Most Sought-After Luxury Branded Residences In Dubai
- Armani Residences, Burj Khalifa
- Bugatti Residences by Binghatti
- Palazzo Versace
- Bvlgari Resorts and Residences
- DAMAC Bay By Cavalli
- Urban Oasis by Missoni
- Elie Saab Residences
- Aston Martin Residences Jumeirah Lake Tower
- Jacob and Co Burj Binghatti
- Baccarat Hotel and Residences
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