DAMAC Properties is at the forefront of a unique trend in Dubai’s real estate market: designer-driven branded residences. By partnering with renowned fashion and luxury brands, they are creating distinctive living experiences that redefine Luxury Living.
Dubai has become the global hub for this innovative approach to real estate development. Standalone branded residences, not attached to hotels, are projected to dominate the market, accounting for 78% of new projects over the next four years. This trend signifies a shift towards lifestyle-focused branding, as opposed to traditional hotel-centric projects.
The branded residences sector in Dubai has experienced remarkable growth, expanding by 410% in the past decade (2014-2024). This surge is reflected in the number of projects, which has increased from 10 in 2014 to 51 in 2024. Notably, the past five years alone witnessed a 122% growth, showcasing the sector’s momentum.
This growth is accompanied by diversification. While hotel brands still hold a significant market share (63% projected by 2029), their dominance is diminishing. This trend opens doors for non-traditional brands like fashion houses and automotive companies to enter the market, offering unique design aesthetics and marketing advantages to developers.
Looking ahead, the future of branded residences in Dubai appears bright. Experts predict a five-year projection of 137% growth, bringing the total number of projects to 121 by 2029. This expansion promises a diverse range of options for residents, catering to various tastes and budgets.
Dubai’s embrace of branded residences positions it as a global leader in this dynamic market segment. This trend not only fosters innovative design and marketing strategies but also presents exciting opportunities for both developers and lifestyle brands to expand their reach and influence.
Publish Mar 05, 2024
Source: https://www.arabianbusiness.com/industries/real-estate/dubai-real-estate-branded-residences-set-for-410-increase-as-investors-eye-jewellery-and-motoring-themed-property-boom/
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