One of the fastest-growing segments in Dubai’s real estate is undoubtedly the luxury sector. An increasing number of the super-rich are investing in high-end real estate in Dubai at astronomical prices. One strategy used by developers to make this segment even more exclusive is collaboration with luxury brands.
One of the best-known examples is the partnership between Emaar Properties and fashion legend Giorgio Armani, which gave rise to the Armani Hotel and Armani Residences Dubai in the Burj Khalifa.
Luxury Real Estate in Dubai: Versace
In the Jaddaf Waterfront district, you’ll find the sumptuous Palazzo Versace, boasting neoclassical style and arabesque decorative elements. In addition to the hotel, the property also offers luxury apartments bearing the Versace brand.
Luxury Real Estate in Dubai: Bulgari
In contrast, developer Meraas has chosen to collaborate with Bulgari to build the Bulgari Resort and Residences on the island of Jumeirah Bay. Besides the hotel complex, the Bulgari Dubai Resort and Residences comprise six residential buildings with 173 apartments and 15 private villas, featuring high-end amenities such as gourmet restaurants, exclusive beach clubs, spas, and private-access beaches.
Luxury Real Estate in Dubai: Cavalli and Fendi
Damac Properties is another developer that heavily relies on the luxury real estate brands strategy to attract high-end real estate investments to Dubai. After acquiring the Roberto Cavalli brand, it developed the Just Cavalli Villas at Akoya Oxygen and the Cavalli Villas at Dubai Marina.
Investing in Dubai
The collapse of US banks SVB and First Republic, and of Crédit Suisse, has had a knock-on effect, jeopardizing the savings of current account holders. Faced with such an uncertain banking situation in the West, trying to protect your cash and investments by turning to very solid countries from a banking point of view, such as Dubai, seems to us to be a wise choice.
Not everyone may be aware, for example, that it is possible to open a current account in Dubai without being a resident of the Emirati country. To do so, banks are very diligent, requiring the presentation of specific documents and compliance with certain requirements, such as the average amount to be kept on the account.
Apart from simply protecting your savings against banking crises, opening a current account in Dubai has many advantages, especially if you intend to invest and do business there.
For those who then decide to move to Dubai and become residents, or even open a business, the advantages of opening a current account in Dubai and the tools that Emirati banks make available to their customers are even greater.
You can then invest in one of two ways: by buying a house that’s already been built or, as you can do in England or elsewhere, by buying on paper, then following the project and customizing it if necessary.
If you want more advice, however, avoid DIY: in real estate, being supervised by an agent makes all the difference, and buying in an unfamiliar neighborhood can be even more complicated.
Consult our Dubai real estate agency and receive personalized information about your investment project.