Dubai ranks as world’s top destination for branded residences

Savills real estate consultancy agency said in a report on branded residential buildings that Dubai is by far the most prominent destination for this category of buildings, with 51 projects in operation.

The report predicted that the total supply of such buildings would double by the end of the forecast period until 2030.

“These two markets are attractive for attracting international buyers, especially those looking for prime real estate assets, and have experienced significant economic growth in recent years,” said Kelcie Sellers, partner at Savills real estate consultancy agency.

The branded residential building sector has maintained its resilience in the face of the volatility of the global economy.

“The number of projects in this category has increased by more than 160% in the last decade, with more new brands and locations, along with the transformation of facilities, which will push this sector to much higher levels. With more than 690 projects completed globally, another 600 projects are expected to be delivered by 2030,” according to the figures provided in the Savills real estate consultancy agency report.

“After North America took over all existing projects, today its share is just over a third of the total supply,” Kelcie Sellers said.

“In parallel with the growth of the sector and the expansion witnessed by all regions in the past thirty years, the Asia-Pacific and the Middle East regions have become the most prominent destinations for these projects, capturing an additional 40% of the total supply,” she added.

The Middle East Region recorded the highest growth rates during the period, at more than 120%, followed by Central and Latin America (+89%), while forecasts indicate that all regions of the world will show high levels of growth until 2030.

Branded residential buildings are expected to continue to grow globally in the coming years, with significant growth likely to be recorded in emerging cities.