140 and counting: Dubai retains position as the global leader in branded residences

 

The emirate is ahead of other prominent markets such as Miami, New York, Phuket, and London

 
By News Desk, December 6, 2024 UAE Real Estate
 

140 and counting: Dubai retains position as the global leader in branded residences
 

Dubai has retained its position as the global leader in branded residences, as revealed in the latest study on the sector from Savills Global Residential Development Consultancy.

The emirate continues to dominate globally, leveraging its dynamic property landscape, luxury lifestyle appeal, and world-class connectivity. This puts the city ahead of other prominent markets such as Miami, New York, Phuket, and London.

Currently, there are 740 completed branded residences worldwide, with a further 790 anticipated by 2031 across 100 countries. Dubai alone has nearly 140 projects, including completed and projected over the forecast period, reflecting the city’s ability to attract global brands and deliver developments that cater to a diverse international clientele.

These projects range from hotel-branded residences offering five-star amenities to non-hotel collaborations with renowned designers, catering to luxury buyers and investors alike.

The global demand for branded residences is expected to double over the next seven years, with the total number of developments projected to grow by 100%. The Middle East is set to see the most significant growth in this sector, with the market expected to expand by an extraordinary 270% during this period.

Dubai’s leadership in the region remains unchallenged, showcasing its ability to seamlessly integrate branded living into its thriving cosmopolitan landscape.

According to Rico Picenoni, Head of Savills Global Residential Development Consultancy, the branded residences concept is diversifying and entering new geographies. “Over the next five years, we anticipate the entry of 60 new brands into the market, with branded residences expanding into regions such as Romania and Tanzania. The Middle East, and particularly Dubai, remains at the forefront of this growth, reflecting how the sector continues to evolve and adapt to the demands of a discerning global clientele.”

Andrew Cummings, Head of Residential Agency, Middle East, added, “Dubai’s position as the global leader in branded residences is no surprise. The city offers an unmatched combination of luxurious amenities, innovative architecture, and high-quality services, all of which resonate strongly with both end-users and investors. With nearly 140 branded residences projects, the emirate sets a global benchmark for how these developments can integrate seamlessly into a vibrant and fast-growing city.”

Globally, hotel-branded residences dominate the sector, accounting for 79% of developments in 2024, with two-thirds positioned in the luxury segment. Marriott International leads as the top parent company, while The Ritz-Carlton holds the position as the most prominent hotel brand.

For non-hotel branded residences, YOO stands out as the market leader. Dubai’s unique ability to seamlessly integrate branded residences with its state-of-the-art infrastructure, luxurious amenities, and lifestyle offerings has been a key driver of its unparalleled success.

As the demand for high-quality branded developments continues to grow, Savills forecasts that Dubai will maintain its competitive edge in this market. Beyond 2031, Asia-Pacific markets such as Vietnam, Thailand, and China, are expected to challenge North America’s dominance in the branded residences sector.

However, Dubai’s consistent performance and its strategic appeal to both investors and global brands are expected to secure its leadership in the branded residences market for years to come.

Savills Global Residential Development Consultancy  branded residences  Dubai real estate  The Ritz-Carlton  

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