Home News Lamborghini, Armani, Bulgari—Branded Residences Are Booming in Dubai

Lamborghini, Armani, Bulgari—Branded Residences Are Booming in Dubai

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The number of rising branded residential projects in Dubai will surge in the second half of 2022 to meet surging demand from a cohort of international high net worth buyers, according to a Monday report from Morgan’s International Realty. More projects are on the horizon. .

By the end of last year, there were 71 branded residence schemes in Dubai, including a number of high-end brands from Lamborghini and Armani to Bvlgari and Four Seasons. The total was 13, or 22%, higher than in the first half of the year, said real estate brokers and real estate investment consultants.

A further 42 branded residences are currently under construction.

“Dubai will continue to dominate the international property market as it has become a hub for branded homes over the past decade and demand from buyers around the world has increased significantly,” reports.

Not only is the amount of branded homes in the city increasing, but so are their values.

The average price per square foot of branded homes rose 14% in the second half of 2022 compared to the first half to AED 3,143 (US$856) per square foot, with buyers paying a typical 37% premium for branded homes. faced. To a non-brand house in the same area.

Located on Jumeirah Bay Island, Bvlgari Resort and Residences ranks as Dubai’s most expensive branded development, priced at AED 9,148 per square foot.

The project is classified as a Residential Development Adjacent to a Hotel and is the most common type of branded residence, accounting for 31% of branded properties in Dubai.

However, the new schemes introduced to the market consist mainly of housing developments with hotel management and independent housing developments associated with brands, “both of which have surged in popularity,” the report said. .

“We also expect to see an increase in eco-friendly luxury projects in the near future,” Hanoush said, adding, “Bringing cutting-edge technology to homes, we will see the rise of high-tech branded homes in cities. maybe,” he added.

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