The attractiveness of luxury commercial real estate in Dubai among the wealthy is increasing, and owning a residence or vacation unit is a dream of many wealthy people around the world. According to the second annual report, “Destination Dubai” for the year 2024, issued by Knight Frank, 69% of the global wealthy people expressed their interest in owning a residential property bearing a distinctive brand in Dubai, up from 59% in 2023.
According to Knight Frank, more than a third of wealthy individuals believe that any branded residential purchase in Dubai will increase in value between 5-10% within the first year of acquisition, and this expectation is higher (50%) among those with wealth of $10-15 million. .
30% of wealthy expatriates in the GCC countries and the world expect the prices of any branded home purchase to rise by 10-15% within 12 months. According to experts, branded residences are trading at a premium of 86% compared to the rest of the market. With a global average of 30% and for those with wealth exceeding $15 million, the provision of services and physical facilities is the most important factor, followed by brand identity. Branded residences are associated with access to world-class facilities and amenities. Owners also enjoy the added benefit of world-class facilities and property management.