On this week’s episode of Taking Care of Business, join Operations Director; Paul Kelly and Managing Director; Marc Walters to discuss the reign of branded residences in Dubai, how branded residences are a life-long investment and why residents are opting for smaller branded spaces over larger non-branded spaces!
Let’s jump right into their conversation…
The podcast begins with Paul discussing branded residences, once a novel concept, have become a cornerstone of the real estate landscape, not just in Dubai but on a global scale. Marc then traces the roots of branded residences back to the introduction of Armani Residences in the Burj Khalifa in 2009, marking a paradigm shift in luxury living.
He then continues to discuss how the subsequent emergence of The Address further solidified the concept of branded residences and how they set an unmatched standard for quality and lifestyle.
The discussion then highlights the remarkable surge in branded residences, with Dubai currently boasting 92 such developments and a projection of 36 more in the U.S. next year. This upward trajectory is indicative of a broader demand for a turnkey lifestyle, where residents can experience the epitome of luxury living coupled with the cachet of renowned brands.
Paul and Marc then deep dive into branded residences that are not confined to high-rise apartments; the trend has evolved to encompass various property types. From Lamborghini Villas in Dubai Hills to villas associated with The Address, developers are catering to diverse preferences, ensuring a customised luxury living experience.
Despite the premium associated with branded residences, Marc underscores their sound investment potential. He explains that capital appreciation in some developments has reached remarkable heights, and the higher service fees come with a host of enhanced amenities, contributing to a robust rental market. Branded residences are positioned not only as a luxury lifestyle choice but as a savvy investment option.
Paul shares that a defining factor of branded residences is the emphasis on lifestyle. From Michelin-starred restaurants to world-class spas, these developments prioritise wellness, aligning with the contemporary focus on a holistic and healthy living experience.
Looking ahead, the podcast explores the entry of new brands like Nobu and Six Senses into the Dubai market. Branded residences are not merely a Dubai trend; they signify a global shift in real estate dynamics. Developers are now compelled to enhance existing developments to stay competitive, driven by the wellness trend and the demand for a complete lifestyle package.
In conclusion, the episode reflects on the transformative impact of branded residences on the real estate landscape. The allure of a turnkey, branded lifestyle is reshaping buyer preferences and investment strategies. As the trend continues to unfold, the world of real estate is witnessing a new era defined by brand association, wellness, and an unwavering commitment to an unparalleled living experience.
For more insights into the ever-evolving world of real estate in Dubai, stay tuned to "Taking Care of Business" and follow Allsopp & Allsopp Group for expert perspectives and updates.