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Developers Are Primarily Driven By Demand As The Core Factor.
According to a prominent industry expert, Dubai’s luxury property market is currently the world’s strongest and is projected to maintain its upward trajectory. Shreen R Gupta, CEO & Partner of Grid Properties, stated in an interview with Khaleej Times that traditional branding practices have involved collaborations between hospitality and fashion brands with property developers. However, there is a growing trend of watchmakers and automotive brands also entering the market. Gupta further anticipates future collaborations in areas such as wellness, technology, and others to introduce unique lifestyle offerings.
With a significant presence in key international markets like the United States, the United Kingdom, Europe, and Asia, Grid Properties is now extending investment opportunities to GCC investors. The aim is to assist them in diversifying their investment portfolios and benefiting from the potential growth in these markets.
Apart from the aforementioned ventures, Grid Properties has played a pivotal role in the creation of various other prominent projects. Notably, the company has been involved in the development of Elie Saab Residences and the Lucan project in London, valued at £175 million. In addition, Grid Properties has also contributed to CQ Hub, a collection of 61 warehouses located at Dubai Production City. As well as Costra – 02 at IMPZ. The company’s portfolio extends further to include several other projects situated in Warsan, Jumeirah Village Circle (JVC), Sports City, and Mohammed bin Rashid City.
Several Excerpts From The Interview:
1. What Are The Driving Factors Behind The Surge In Dubai’s Property Market?
In Dubai’s dynamic market, innovation and demand play vital roles in propelling growth. The key characteristic is the seamless synergy between lifestyle and branded developments, especially in higher price brackets. Here, customers anticipate the utmost quality, and the integration of a well-known brand enhances the property’s value by offering a unique and elevated experience. In contrast, this synergy is less prominent at lower price points.
The rise in discerning and brand-conscious premium consumers has also contributed to the market’s growth. Lifestyle and branded property developments cater to their desire for exclusivity, superior quality, and a distinctive way of life. Which resonates strongly with global property investors. The appeal of branded premium properties extends internationally, drawing local and international buyers. Investors view such properties as secure and potentially lucrative investments, leveraging the brand’s reputation to command premium pricing and rental income.
2. What Are The Key Factors Associated With Lifestyle Property Development?
Lifestyle property development revolves around crucial elements that contribute to its success and appeal. One significant factor is the inclusion of brand partnerships, which adds an exclusive and prestigious dimension to the development. This unique positioning often leads to strong long-term investment potential. Moreover, the focused and specialized nature of these developments creates a sense of scarcity and exclusivity, subsequently driving demand in the market.
The allure of lifestyle property developments is further enhanced by their targeted amenities and features, which attract buyers willing to pay a premium for an elevated quality of life and the potential for capital appreciation. These developments collaborate with established brands, be they renowned architects, interior designers, fitness trainers, hospitality brands, or lifestyle brands that align with the development’s theme. The synergy between these brand collaborations and the development’s offerings results in unique experiences that cater to the desires of discerning buyers.
3. What Are The Preferred Locations For These Properties?
To determine the most suitable locations for lifestyle property developments, extensive market research is conducted. This includes analyzing demographic trends, evaluating infrastructure and connectivity, and assessing the local regulatory environment. The selection process aims to establish a strong alignment between the location and the desired lifestyle experience. Tailored to each project’s unique concept and target market. In-demand global property hotspots. Such as London and Dubai, offer attractive destinations, including waterfront locations, iconic landmarks, and golf communities.
4. Who Are The Primary Target Customers For Such Properties?
The primary target customers for lifestyle properties are individuals seeking an elevated living experience beyond what traditional properties offer. These buyers value enhanced amenities and services, such as luxury spas, personalized concierge assistance, exclusive clubhouses, branded retail outlets, and access to unique experiences. The growing demand for convenience, luxury, and customized living experiences drives the appeal of lifestyle property developments. The changing lifestyle trends, including how people live, work, and interact, have led to an increased desire for enhanced lifestyle experiences in their homes, attracting both investors and end-users alike.
