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EnglishBranded Residences Boom: Dubai's $16.3bn Real Estate Surge in 2024
Dubai's real estate market is booming with a 43% rise in branded residence sales, as investors are drawn by the emirate's lifestyle offerings and favorable economic conditions. The sector, now 8.5% of total real estate transactions, is projected to grow further, distinguishing Dubai from markets like Miami and London. Competitive pricing and strategic partnerships with global brands are attracting wealthy buyers to the city.
Dubai's real estate market has witnessed a 43 percent surge in branded residence sales over the past year. This sector now comprises 8.5 percent of the emirate's total real estate transaction value, according to recent findings by Betterhomes.
Buyers in Dubai are demonstrating a willingness to invest 40 to 60 percent more per square foot in branded residences compared to non-branded properties in similar locations.
Dubai Tops Global Branded Residences with 160% Growth
"High-net-worth buyers are no longer just looking for property. They’re investing in lifestyle, brand value, and long-term growth. Dubai offers all three, and that’s why it’s outperforming legacy markets like London and Miami," said Christopher Cina, Director of Sales at Betterhomes.
Dubai's regulatory framework is favorable for global investors, offering 100 percent foreign ownership, zero income tax, and long-term Golden Visas.
Dubai plans for 140 branded real estate projects by 2031, placing it ahead of international competitors like Miami, New York, and Phuket in both completed projects and those in the pipeline.
The city's branded residences offer a diverse array beyond traditional hospitality names like Four Seasons and Ritz-Carlton. These include partnerships with automotive brands such as Mercedes-Benz, Bentley, and Bugatti; fashion labels like Armani and Missoni; and entertainment entities such as Cipriani.
Developers have partnered strategically with global brands. Binghatti, for instance, collaborates with Bugatti on Bugatti Residences, while Arada works with Armani for Armani Beach Residences, and Select Group partners with Six Senses for Six Senses Residences.
Major developers like Emaar, Meraas, and Nakheel have established brand-focused enclaves that define Dubai's luxury property scene.
Compared to international markets, Dubai's branded residences remain competitively priced. The research indicates buyers in Dubai pay an average premium of 157 percent for branded residences. In Europe, this figure rises to 265 percent, in Thailand it's 270 percent, and in the USA it approaches 500 percent.
In Dubai, Bvlgari Residences command AED 10,500 per square foot, showcasing a 166 percent premium. Meanwhile, Bugatti Residences lead with a 237 percent premium.
By comparison, Miami's Aston Martin Residences reach AED 25,000 per square foot with a 525 percent premium, while London's The OWO Residences are priced at AED 20,000 per square foot. However, the UK's high taxes and complex regulations diminish its allure for investors.
The MENA region's branded residences are expected to reach a 25 percent market share by 2030, with Dubai spearheading this expansion. The study forecasts that the number of regional projects will exceed 360 developments.
The research concludes, "Dubai outperforms global rivals, remaining more affordable than Miami, more tax-friendly than London, and offering higher growth potential than Phuket."
Researchers describe the sector as indicative of "a wider shift towards lifestyle-centric luxury real estate that redefines conventional notions of homeownership."
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