Dubai real estate: Branded residences lure the world’s wealthy elite – Arabian Business

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As the billionaire migration to Dubai hits record levels, luxury branded residences are emerging as a key driver attracting the world’s wealthy investors to the emirate.

With an unprecedented influx of high-net-worth individuals (HNWIs) making their homes in the city, developers are capitalising on demand by differentiating their offerings through high-profile global partnerships.

Buy/sell, rent/lease residential &
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According to experts, Dubai welcomed the highest number of millionaire migrants globally last year at over 5,200 and around 4,500 this year, with further growth forecast in 2024. This influx is fueling record-breaking sales in the luxury property market, with penthouse prices surpassing $50 million and whole villas routinely fetching $150 million or more.

Marcel Remus of Marcel Remus Real Estate told Arabian Business that most of his clients are German speaking HNWIs who prefer to buy luxury city centre apartments and penthouses. “Wealthy buyers invest in Dubai due to the safe, stable infrastructure and unique lifestyle the city offers,” he noted. However, Ezhat Al Doory, CEO of Estilo Architects, observes clients now want properties with unique features like private nightclubs and panic rooms.

Managing Partner at Christie’s International Real Estate Dubai, Jackie Johns, agrees locations with abundant amenities remain top priorities. She notes increasing demand for branded residences from HNWIs seeking prestige and an exclusive experience.

“The attractiveness of branded properties extends beyond mere ownership; they embody a lifestyle statement and an assurance of quality that resonates deeply with elite investors. As a result, Dubai’s luxury real estate market is on an innovative trajectory, diversifying its offerings to cater to the evolving preferences of this exclusive demographic,” Johns told Arabian Business.

Dubai becomes a global leader in branded residences

Dubai is currently the world’s leading hotspot for branded residences and supply is set to double by 2030, according to a recent report by property consultancy Savills. Over the past year, the number of new projects in this segment has surged dramatically, with brands in luxury fashion, automotive, gastronomy, and hospitality leading the charge.

Branded residences are offering more of a premium post handover

With an expanding landscape of iconic brands, developers are designing ultra-luxe addresses alongside the likes of Bulgari and Bugatti to meet evolving buyer preferences.

Branded properties attract affluent buyers prioritising exclusivity, experience and status,” Al Doory told Arabian Business.

According to Remus, most purchases are financed in cash with many European and GCC buyers utilising high-value properties for short Dubai visits during winter. He predicts prices stabilising rather than dramatically rising, with demand sustained by the emirate’s growing appeal. Al Doory likewise believes Palm Jumeirah and emerging hotspot Jumeirah Bay Island will maintain investor appetite.

A magnet for wealth

Driven by business incentives like low taxes and infrastructure projects, Dubai exerts ongoing magnetism for global fortunes according to experts. Johns attributes the city’s visionary developments, resilience through challenges, and political stability with bolstering luxury real estate activity. She anticipates further diversification of offerings to cater to changing tastes.

HNWIs are also drawn by real estate returns potentially surpassing rival destinations. The UAE is projected witnessing an annual compound growth rate of eight percent through 2027. Al Doory concludes Dubai’s commitment to innovation through human-centric trends like wellness and sustainability will fuel new residential frontiers, augmenting the billionaires’ migration and luxury real estate market growth.

Raffles The Palm Residences and Penthouses Dubai branded residence
Dubai developers are designing ultra-luxe addresses like (pictured) the Raffles Branded Residences in Palm Jumeirah

As branded concepts proliferate, the convergence of elite homebuyers and premium developer partnerships is transforming Dubai’s property landscape.

While modern aesthetics forged previous penthouses and villas, these collaborations are elevating Gulf living to new levels of distinction, experience and brand prestige befitting the most wealthy global citizens.

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