Dubai has emerged as the location for the highest concentration of branded residences, the country has the most schemes in the pipeline as compared to any market in the EMEA region with a projected growth of over 72 percent until 2030, according to a new report by Savills.
Rico Picenoni, Director of Global Residential Development at Savills, said, “Our residential development consultancy team tracks the global branded residential space supporting developers and brands alike, and we have found no other market quite like Dubai. The emirate catapulted to the forefront of the branded residential sector in the decade following 2010.
“Over the forecast period, Dubai is expected to demonstrate growth that will make it roughly 30 percent more active than the second most active market globally, South Florida. This global city has demonstrated more than 16 percent compound annual growth over the last 20 years whilst the other, high-profile markets have each demonstrated no more than 5 percent compound annual growth, which is remarkable.”
London comes in second in the rankings followed by Cairo.
Rico added, “Branded residences, as a segment of the EMEA residential property sector, are predicted to continue their extraordinary growth. Rising numbers of wealthy individuals globally will likely create a new source market of aspirational HNWIs looking for secondary or primary homes.”
Top non-hotel brands by completed schemes
- YOO inspired by Starck
- YOO Studio
- Versace
- Trump
- Roberto Cavalli
Across the EMEA region, the number of high net worth individuals has grown by 27 percent in five years, generating a particularly high demand for branded residences.
According to the report, the branded residences sector has a long proven resilience and adaptability to adverse market conditions, making it an attractive option for buyers.
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