A Milk Real Estate Report:
Dubai’s real estate landscape is undergoing a remarkable transformation, particularly in the realm of branded residences. With a surge of interest from investors drawn to the allure of jewellery and motoring-themed properties, Dubai stands as the global frontrunner in this luxurious niche market.
At the forefront of this evolution is DAMAC Properties, spearheading the creation of iconic living spaces in collaboration with renowned fashion and luxury brands. The emergence of branded residences in Dubai has become a worldwide phenomenon, attracting not only hotel brands but also respected names in jewellery and motoring industries.
Over the past decade, the branded residences sector in Dubai has experienced an astounding 410% growth, expanding from ten projects in 2014 to a staggering 51 developments today. In just the last five years, this sector has witnessed a remarkable 122% surge, signaling a profound shift in the city’s real estate landscape.
These insights were unveiled by Riyan Itani, Founder and Director of Global Branded Residences (GBR), during “The Future of Branded Residences” event in Dubai. The comprehensive report, which delved into 121 open and pipeline projects within the emirate, was presented in collaboration with real estate branding specialist Sectorlight and sponsored by De Leeuw International.
Among the revelations was a forecast projecting the total number of projects to reach 121 by 2029, marking a remarkable 137% growth over five years. Additionally, there’s a notable shift in the market dynamics, with the dominance of hotel brands expected to decrease from 78% to 51% by 2028, making room for innovative collaborations with non-hotelier brands such as automotive and fashion.
Rich Stevens, Managing Director and Chief Creative Officer of Sectorlight, emphasized the potential for lifestyle brands to extend their influence by creating immersive physical environments. For developers, partnering with globally recognized brands presents an unparalleled opportunity to differentiate themselves in a competitive market.
Robert Gill, Director of De Leeuw International, highlighted the region’s exceptional growth in the branded residences market, stressing the importance of market understanding and accurate financial data for informed decision-making.
The report also shed light on the geographical distribution of projects in Dubai, with Downtown and Business Bay remaining focal points for development. The Marina/Beachfront zone and Palm Jumeirah are also witnessing significant activity, reflecting the diverse and dynamic nature of Dubai’s real estate market.
