Dubai ranked as world leader for branded residences

 

Supply levels are forecast to grow as brands identify areas popular with high-net-worth individuals, such as the UAE

 

Dubai has been ranked as the world's leading administrator of branded residences, based on a recent report. The marketplace has grown by more than 150 percent over the last decade, and it has proven to be resilient during difficult periods.

Dubai has 40 branded residences plus a pipeline set to elevate that number to more than 70. South Florida and New York City rank second and third in terms of destinations for completing and existing pipeline.

That is, worldwide business is launching new store locations to expand and affluent, globally-mobile individuals will create demand for branded dwellings. According to Swapnil Pillai of Savills Middle East, this will continue to drive demand for high-end properties.

High-value corporations are figuring out how to obtain their home bases by learning which parts of HNWI [high net worth individual] towns are seeing the largest rates of population growth. Over the past 5 years, HNWI census correlates with the highest growth rate in North America (53 percent), followed by the Middle East (34 percent) and Asia Pacific (31 percent) to the strongest increase of branded residence stock over the same period.”

The researchers praised the number of millionaires in the Emirates, Nile, the Arabian Peninsula, and the Levant. UAE, Saudi Arabia, Kuwait, and Qatar are expected to also see growth in the number of high-net-worth individuals.

A rapid increase in wealth is being driven by growth in financial and real assets. About 41% of the nation's wealth is predicted to come from the HNWIs in 2026 and is anticipated to rise to 43% by that year.

Despite prior higher-than-average trends in high-end housing developments in popular areas of Dubai, South Florida, and New York, slowing branded residential growth is now seen in these areas.

Knight Frank published a report indicating that Dubai now contained two clear concentrations of branded homes: Central Dubai, extending from Downtown Dubai along the Dubai Canal, out to Jumeirah, and New Dubai, comprising The Palm Jumeirah, Dubai Marina and Jumeirah Lakes Towers.

Shaikhani Group, one of the most influential real estate developers in Dubai is back with its new venture. The company had its glorious past during the nineties and even after a brief phase of some lean years, they are back again with a bang. Based out of Gardenia, Rabia Enclave and The Motor city, the Shaikhani group has been developing high-quality residential and commercial properties in Dubai and Karachi for the last two decades under the banner of Real Estate Developers Shaikhani Group. When it comes to their associates, we have seen some of the best on this list as well. Here’s everything about them!