Dubai’s Branded Residences Boom Takes Off in Recent Years!
Leading the pack when it comes to designer-developer collaborations, DAMAC Properties has forged several strategic partnerships with world-renowned fashion and luxury brands in recent years. “DAMAC’s strategic partnerships have revolutionized luxury living destinations in the UAE and redefined the notion of branded residences,” said Amira Saiwani, managing director of Sales and Development at DAMAC Properties. Highlights of DAMAC’s partnerships include Cavalli-branded DAMAC Towers, by Paramount, DAMAC Hills 2, and Gems Estate, a jewelry house themed around Gems.
The interiors of DAMAC Residences Elegance were designed by the famed Lebanese couturier, Zuhair Murad. “Dubai’s emergence as a center for luxury living has created an environment in which architects, interior designers, and artisans can showcase their skills at the peak of their careers,” Sajwani said. The market is driven by a desire for something special – luxury materials, high-end finishes, and cutting-edge technology are not just desired; they are essential. The market is driven by a desire for something special – luxury materials, high-end finishes, and cutting-edge technology are not just desired; they are essential.
Branded residential schemes have been at the forefront of Dubai’s luxury ascent and have seen a dramatic increase in the last decade, according to a Savills report on the global market for branded residential schemes. DAMAC, which pioneered this space in Dubai over 10 years ago, sees this space as “at the core” as the city continues to develop as a world-class hub. “Branded residential schemes are at the heart of the city’s luxury ascent,” says Savills. “They embody the company’s promise of quality and luxury.” Sajwani adds that DAMAC will continue to invest in “innovation and sustainability” for its diverse portfolio of branded properties, which includes more than 10 distinguished brands, to keep up with changing client demands. Savills predicts that by 2030, there will be more than 72 new schemes on the market.
In the meantime, according to McCauley, there is still plenty of room for brands to enter the branded real estate space. “I think there’s a lot of companies out there that may not even know they’re getting into branded real estate, and I think that’s a trend that’s only going to keep growing,” McCauley said. As the city continues to transform in unprecedented ways across industries, including the addition of 500 new restaurants this year alone, the demand for bespoke design is only likely to increase.
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