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Dubai came out on top in terms of the number of branded residential complexes among cities in Europe, the Middle East and Africa. London is in the second place of the rating with a strong lag.
Notable projects include Bugatti residences, also known as Sky Mansions. This is a residential complex, a penthouse in which costs AED 750 million ($ 240 million), which is still an absolute record in the UAE real estate market. Other notable projects: Jumeirah Marsa Al Arab villas and apartments in Bulgaria property, at an average price of $114 million and $33 million.
Analysts note that wealthy foreigners most often buy branded real estate. And if prices usually depend on the quality of housing and its location, now there is a third condition - how much buyers like the brand. For example, Italian investors are often invested in projects of Italian brands Cavalli and Bulgari.
The average cost per square meter in branded residential complexes in Dubai is AED 33,831 ($9,210). For comparison, in non–branded luxury projects, the average price was set at around AED 23,907 ($6,508) per square meter.
The most expensive branded projects are located in the Jumeirah Bay Island– AED 98,468 ($26,807) per square meter. The most affordable are in the Jumeirah Village Circle, where the average price per square meter is AED 13,078 ($3,560).
Branded residential complexes are a type of luxury real estate in which the developer's project is associated with a certain brand, usually a luxury segment. Such a project has a unique design and a lot of expensive additional options. For example, the Bugatti residences penthouse has an elevator for cars.
According to statistics, there are a total of 71 branded projects in Dubai in 2022. Since the beginning of 2023, 13 more such projects have been added. Thus, there are a total of 84 branded real estate projects in Dubai. Their number is expected to grow by 120% by 2030.