_Dubai’s vibrant branded residential market continues to shine           

Prices in Dubai’s branded residential market are being buoyed by strong investor demand and have risen by 20-30% over the course of the last 12 months. The strength of this demand is reflected in the fact that some projects have achieved over AED 500 million in sales.

In 2021, Dubai was ranked #1 in the world for annual increases in prime luxury real estate, seeing an increase of more than 44% in value compared with the previous year, according to our Knight Frank PIRI 100 Index (Source: The Wealth Report 2022). 2021 was a record-breaking year for the branded residential sector where we saw this luxury asset class make up 20% of apartment sales, reaffirming the appetite for branded real estate in Dubai is still very strong.

Around 3,000 branded residential units are expected to be completed this year, which translates to approximately 4% of all units due by December, strongly suggesting that the demand-supply mismatch is likely to persist, sustaining upward pressure on prices.

Back in May, we reported that Dubai’s thriving branded residences market is now a global leader, rivaling Miami and New York for completed and pipeline projects, as Dubai’s branded residential development sector continues to flourish post-pandemic, as the emirate’s love affair with branded residential real estate continues.

Dean Foley – Head of Residential Project Sales & Marketing at Knight Frank Middle East commented “Residential development across the emirate has flourished since 2010 with the Armani Residences Burj Khalifa first in the market – since then, we have seen an explosion of this asset class with strong demand from HNW and UHNW buyers from across the globe. Such has been the rate of expansion that Dubai is now a global leader rivaling Miami and New York for completed and pipeline projects. Over the last 12 months, we’ve seen launches from Four Seasons, The Ritz-Carlton, St. Regis, W and Six Senses, cementing Dubai’s popularity and boosting confidence with hotel operators, developers, owners and buyers.

More recently we also reported that Central Dubai areas such as Business Bay are now capturing the attention of Branded residential developers, who are now alive to the geographic significance of Business Bay and as a result, we’re seeing ultra-high-end operators such as the Dorchester and The Cipriani family’s Mr. C Residences and Four Seasons upstream along the Dubai Canal hurriedly bringing through residential products that are redefining prices along this stretch of Central Dubai.”

View our latest Dubai branded residential infographic below:

For more information on Dubai’s branded residential market, please contact Dean Foley – Head of Residential Project Sales & Marketing