Dubai real estate: Branded residences sales surge 43% to generate $16.3bn in 2024
Dubai has cemented its position as the world capital for branded residences, recording sales of over 13,000 units in 2024 and generating transaction values of AED 60 billion, a new report finds.
The emirate experienced a 43 per cent increase in branded residence sales compared to the previous year, with the sector now representing 8.5 per cent of Dubai's total real estate transaction value, new research from Betterhomes revealed.
The market demonstrates buyers' willingness to pay premiums of 40 per cent to 60 per cent per square foot for branded properties over non-branded counterparts in the same locations.
Dubai leads global branded residences market with 160% growth
'High-net-worth buyers are no longer just looking for property. They're investing in lifestyle, brand value, and long-term growth. Dubai offers all three, and that's why it's outperforming legacy markets like London and Miam,' Christopher Cina, Director of Sales at Betterhomes said.
The city's regulatory framework offers 100 per cent foreign ownership, zero income tax, and long-term Golden Visas for investors, creating conditions that attract high-net-worth individuals from across the globe.
Dubai maintains 140 branded real estate projects scheduled for completion by 2031, positioning the city ahead of global competitors including Miami, New York, and Phuket in both completed developments and pipeline projects.
The sector has evolved beyond traditional hospitality brands such as Four Seasons and Ritz-Carlton to include automotive marques like Mercedes-Benz, Bentley, and Bugatti; fashion houses including Armani and Missoni; and entertainment brands such as Cipriani.
Developers have forged strategic partnerships with these global brands. Binghatti has partnered with Bugatti for Bugatti Residences, Arada collaborates with Armani for Armani Beach Residences, and Select Group works with Six Senses for Six Senses Residences.
Master developers including Emaar, Meraas, and Nakheel have created brand-centric enclaves that define Dubai's luxury property landscape.
Dubai's branded residences remain competitively priced compared to international markets. The research shows Dubai buyers pay an average premium of 157 per cent for branded residences, whilst Europe records 265 per cent, Thailand 270 per cent, and the USA nearly 500 per cent.
Bvlgari Residences in Dubai commands AED 10,500 per square foot with a 166 per cent premium, whilst Bugatti Residences leads at a 237 per cent premium.
In comparison, Miami's Aston Martin Residences reaches AED 25,000 per square foot with a 525 per cent premium.
London's The OWO Residences are priced at AED 20,000 per square foot, but the research notes that high taxes and complex regulations reduce investor appeal in the UK market.
The MENA region's branded residences are projected to reach 25 per cent market share by 2030, with Dubai leading the expansion. The research forecasts the number of regional projects will exceed 360 developments.
'Dubai outperforms global rivals, it is more affordable than Miami, more tax friendly than London, and offers a higher growth potential than Phuket,' the research concluded.
The sector represents what researchers describe as 'a wider shift towards lifestyle-centric luxury real estate that redefines conventional notions of homeownership.'
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