This premium is driven by the prestige associated with luxury brands and the exclusivity they offer. ## The Allure of Branded Luxury Real Estate The Dubai real estate market has always been a hotbed for high-end properties, but a recent report has shed light on a specific trend that is gaining momentum. Buyers are increasingly willing to pay a premium for branded residences, with some properties fetching up to 69% more per square foot than their non-branded counterparts. * Brand Prestige: The allure of luxury brands is undeniable. Brands like Cartier, Louis Vuitton, and Chanel have long been associated with exclusivity and prestige. In the real estate market, these brands have translated into a significant price premium. * Exclusivity: Branded residences offer a level of exclusivity that non-branded properties simply cannot match. These properties often come with unique features, such as custom-designed interiors, exclusive amenities, and prime locations. * Designer Collaborations: Many luxury brands have collaborated with renowned architects and designers to create unique residences that are unlike anything else on the market.

The Rise of Branded Residences in the UAE

The United Arab Emirates (UAE) has witnessed a significant surge in the number of branded residences, with over 120 developments now available, a notable increase from 69 in 2022. This growth reflects the country’s evolving real estate landscape and the increasing demand for luxury living spaces. ### The Appeal of Branded Residences

• Access to high-end lifestyle and entertainment options

Branded residences in the UAE offer a unique blend of luxury, exclusivity, and convenience. These developments are designed to cater to the discerning tastes of affluent residents and international investors seeking a premium living experience. ### Factors Driving the Growth Several factors have contributed to the rapid expansion of branded residences in the UAE:

• Rising demand for luxury housing

The UAE’s robust economy and strategic location have made it an attractive destination for investors and expatriates alike.

The concept has since gained traction in various cities worldwide, including New York, London, and Hong Kong. ## The Rise of Branded Residences Branded residences have revolutionized the luxury real estate market by offering a unique blend of exclusivity and brand prestige. The concept, which originated in Dubai with the Armani Residences in the Burj Khalifa, has since spread to major cities across the globe. * Exclusive Brand Experience: Residents enjoy the prestige of living in a property associated with a globally recognized brand. * Design and Aesthetics: Each residence is meticulously designed to reflect the brand’s identity, offering a unique living experience.

Dubai’s Real Estate Market: A Branded Residences Boom

Dubai’s real estate market is experiencing a significant transformation, with branded residences emerging as a key player. These upscale properties, characterized by their unique design and luxurious amenities, are not only reshaping the city’s skyline but also contributing significantly to its economic growth. ### The Rise of Branded Residences

• Branded residences are becoming increasingly popular among affluent buyers. * These properties offer a blend of luxury, exclusivity, and innovation. * They are often located in prime areas such as Downtown Dubai, Business Bay, and Palm Jumeirah. The allure of branded residences lies in their ability to offer a unique lifestyle experience. From state-of-the-art fitness centers to rooftop pools and private cinemas, these residences are designed to cater to the needs and desires of their discerning residents. ### Economic Impact of Branded Residences
• Branded residences contribute 12.6 per cent to the overall value of real estate transactions in Dubai. * This sector is a significant driver of economic growth in the city. * The demand for these properties is expected to continue rising, given their unique appeal. The economic impact of branded residences extends beyond their contribution to real estate transactions.

  In the real estate sector, branded residences are gaining traction as a preferred option for buyers who are looking for quality, exclusivity, and value. With the average price per square foot of branded residences at Dhs3,852, they offer a premium experience compared to non-branded residences, which average at Dhs2,276. This significant difference in pricing reflects the additional value and features that branded residences provide, such as superior design, high-end amenities, and exclusive services.

  The writer is the managing partner at Refine.