Dubai’s Branded Property Market is Expanding at an Exponential Rate
Dubai’s branded home market has experienced exponential growth in recent years, with developers increasingly offering branded residences as a way to differentiate their projects and attract high-net-worth individuals.
According to a recent report by Property Finder, branded residences now account for 11% of Dubai’s total off-plan sales, up from just 3% in 2015.
The report notes that the branded home market in Dubai is still in its early stages, with just 36 branded projects currently available in the emirate. However, the number of branded projects in the pipeline is set to grow significantly, with developers such as Emaar, Damac, and Meraas all working on new branded projects.
The popularity of branded homes can be attributed to a number of factors, including the cachet associated with owning a property with a well-known brand name, the assurance of quality and luxury that comes with such properties, and the range of amenities and services that are typically offered to residents.
The Most Popular Brands
Of the branded projects currently available in Dubai, the most popular are those affiliated with international hotel brands, such as Ritz-Carlton, Sofitel, and W, which account for 60% of all branded residences. However, local brands are also making their mark on the market, with projects such as Emaar’s Address Residences and Meraas’ Bluewaters Residences attracting significant interest from buyers.
The report also highlights the premium prices commanded by branded residences in Dubai, with prices per square foot typically 20-30% higher than those of non-branded properties. However, the report notes that investors in branded homes are often willing to pay a premium for the prestige and exclusivity associated with such properties.
The Future of Branded Residences in Dubai
In conclusion, the branded home market in Dubai is showing no signs of slowing down, with developers and investors alike recognizing the potential of these high-end properties. With a growing number of projects in the pipeline and increasing demand from buyers, the branded home market is set to continue its exponential growth trajectory in the years to come.
Source: https://www.dejavuproperties.com/