The demand for such types of residence is highly preferred by High-net-worth individuals and hence it is expected to rise 54% of the market accounting for 78% of new projects over the next four years, against a global projection of 4%.
Riya Itnai, founder and Director of Global Branded Residences recently attended and event hosted by GBR where he has presented a report of 121 open and pipeline projects in the emirate city. Real Estate branding specialists, Sector light and De Leeuw International has also attended the event and remarked on the branded residences and gave future predictions.
Itani said, “The GBR data shows that the number of hotel brands is due to reduce from 78% of the existing market of projects to 51% of the pipeline of developments due to be released up to 2028”
This means that by 2029, hotel brands will hold only 63% of the total market, compared to 78% globally. This reflects the market’s appetite for dynamic, lifestyle-driven branding, he said, as well as the limitations experienced by hotel brands, who no longer have to partner with developers due to ongoing projects and regional restrictions. Is. Unable to do it.
In his report, he unveiled Dubai has seen an aesthetic growth of 410% for branded residences over the past 10 years, starting from 2014 and the number increased to 51 today. Similarly, in a 5 year survey, the branded home sector has seen significant growth of 122%, increased from 23 to 51 in total numbers of projects.
Rich Stevens, Managing Director and Chief Creative Officer of SectorLight, said: “For lifestyle brands, the possibility of increasing their customer reach and impact by bringing their brand to life through the physical environment offers amazing potential. For developers, partnering with world-renowned fashion, automotive or jewellery brand offerings is a great opportunity to ensure a highly effective stand-out in the competitive market.
We are just seeing the tip of the iceberg right now, with projects like Mercedes-Benz Places by Binghatti and Armani Beach Residences ” by Arda, he noted.
“So far, we have seen ultra-luxe brands attract high-net-worth individuals, but there will be more opportunities for massive household names to come on board and exploit the potential, allowing them to diversify and be able to expand the purpose and essence of your brand,” he said.
Robert Gill, director of De Leeuw International, explained that regionally it was a very exciting time for the branded residence market with some diverse developments.
He said, “The key to success is understanding the market along with accurate financial data. The sector is experiencing extraordinary growth, impacting all aspects of the built environment. Our current and forecasted data provides developers to make informed decisions with confidence. “
