Real Estate

Dubai is world’s top location for branded houses

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November 17, 2022
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Dubai has emerged as the world’s top hotspot for branded residences in terms of current supply and pipeline as the UAE is expected to record a 22 per cent rise in the number of high-net-worth households, according to a study by a leading property services company.

South Florida and New York are the top two locations for branded residences globally, based on their supply of completed and pipeline schemes, according to Savills in its latest Spotlight on Branded Residences. These areas have well-established luxury property markets and attract a range of domestic and international buyers both for business and cultural activity, Savills report said.

While the global growth of the branded residences sector is forecast to continue, the Middle East will be leading the charge with pipeline growth. By the scale of increase from the current supply of branded residence schemes, Egypt, Saudi Arabia, Cyprus, Qatar, and Costa Rica each recorded growth of more than 300 per cent.

Over the past 10 years, branded residences sector has grown by over 150 per cent, and the pipeline of future branded residences remains strong. Today, there are 640 schemes, accounting for nearly 100,000 units, operating across every continent, except Antarctica. Supply levels are forecast to exceed 1,100 schemes by 2027, nearly doubling current levels, said the report.
“After a number of years of evolution, the branded residences sector has proven resilient and adaptable to adverse market conditions, offering security and reliable quality to buyers and attractive returns to developers and brands. With a robust and geographically diverse pipeline, as well as the continued commitment to the sector from developers and brands, the sector is set to continue to expand in the near term,” said Riyan Itani, head of global residential development consultancy, Savills.
Tags: Dubai, Real Estate, UAE

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