Dubai is an undisputed world leader when it comes to luxury branded residences and international real estate marketing in general, so I was interested to read a recent report in Khaleej Times that highlights an example of the added value that branding real estate can deliver.
The Regal Tower in Business Bay is the second Kempinski-branded residences in Dubai (the first is on the Palm Jumeirah); facilities here include luxury real estate, 3 restaurants and a coffee shop, 5 swimming pools, valet parking and one of the biggest gyms and spas in Dubai.
Priced at its launch at Dh2,100 per square foot, the project is due to complete in 2019 at which point Brian Etemad, CEO of selling agent Tamleek, forecasts that “…the price is bound to appreciate to Dh6,000 per sq ft by then”. Etemad adds that several units have already been sold: “We don’t need to do road shows since Kempinski-branded units sell on their own.”
So there it is: Self-selling real estate that appreciates rapidly. What more could a developer wish for?!