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Yahoo
09-07-2025
- Business
- Yahoo
What are branded residences and who's buying them?
Branded residences, in their modern capacity, have been around since The Four Seasons Boston opened in 1985. They are defined as high-end developments, associated in some way with a luxury brand that provides additional levels of service and management. The brand is usually a hotel, but car, fashion and other luxury goods labels are increasingly entering the market. Residences are purchased rather than rented, but owners then make use of the development's on-demand services, including restaurants, room service, spa facilities and golf courses, for an additional fee. They can also use the housekeeping and concierge services, so everything is ready and runs smoothly while they are staying at their residence. 'Branded residences provide the opportunity to access high-quality services, amenities and design credentials typically associated with luxury brands,' says Charles Leigh, sales director of The Whiteley. 'The association with a reputable name provides buyers with assurance in their investment.' Brands that have entered this space include The Four Seasons, Six Senses, Rosewood and Ritz-Carlton hotel groups; Ferrari (RACE) and Bentley in the luxury car industry and fashion labels Fendi, Armani and Bulgari. 'There are more than 220 brands active to varying degrees within the sector,' says Rico Picenoni, Savills head of global residential development consultancy. 'The brands are predominantly hospitality brands, but also include automotive, food and beverage, design, fashion and other industries. Read more: The pros and cons of buying property off-plan 'Brands possess an emotional appeal to purchasers who trust and confide in the brands, which in many cases have been operating luxury hotels for decades.' Branded residences are popping up all over the globe, but the US is still a hotspot. 'North America, the birthplace of the sector, was the single, most active region until 2015, when its contribution to the global landscape dropped below 50% for the first time,' says Picenoni. 'The Middle East and Africa are expected to see the strongest growth at 270% over the next seven years, while Asia Pacific is also on an impressive growth trajectory.' At a local level, there are two areas in particular that have seen significant expansion. 'There are hotel brands everywhere, but non-hotel brands are focussed on Miami and Dubai,' says Liam Bailey, head of global research at Knight Frank. New York and London are also seeing increasing numbers of branded developments. There's expected to be a 100% increase in branded residences over the next seven years and, over the next five, Savills forecasts that 60 new brands will enter the space, and the industry will reach five new geographies, including in countries such as Romania and Tanzania. As well as the initial purchase price, buyers of branded residences have to pay an annual service charge and then additional fees for extra amenities. 'Typically, residence owners enjoy essential services that are covered in their service charge, including the management fees that are payable to the brand. In addition to this, they enjoy access to á-la-carte services that are payable on consumption and may include private chefs, housekeeping, private transportation, and much, much more,' says Picenoni. As the on-going costs can be relatively high, potential buyers need to consider how long they will spend at the branded residence and which services they will make use of. Most branded residences are bought by ultra-high-net-worth individuals (UHNWIs) or high-net-worth individuals (HNWIs) due to their high cost. 'These are affluent individuals buying them as second homes,' says Bailey. 'I'm making an informed guess, but I'd say people in their 40s, 50s, 60s… Some of the big hotel brands have numerous owners who become collectors and have them as part of an investment portfolio.' Many purchasers, especially those buying in areas that aren't familiar to them, are attracted to a branded residence because they trust the brand and this gives them extra confidence in the development. 'There's a degree of value placed on the brand,' says Bailey. 'If you're buying outside your country, it's confirming that it's a sensible thing to do; it also makes sense as it's an easier purchase process.' The flip side of this is that you are paying a premium over non-branded residences that might have a similar offering or be better value. There are several watchouts that those purchasing branded residences need to be aware of. The first is the relationship between the brand and the developer. 'The developer owns the building, not the brand, and there is a licensing agreement in place,' says Bailey. 'Ultimately what you are buying is a residential property with a brand attached… In rare occasions, the brands might change. You need to look at the developer and the brand; is there a track record in the market for a long-term agreement?' It's also important to understand that branded residences vary across different regions so, even if you're buying with the same brand, the offering, fees and rules might be different. In particular, this may relate to whether you can rent the property out when you aren't using it. Read more: What is pre-application planning and can you do it yourself? 'In certain locations, brands don't allow you to rent out, you can only occupy,' says Bailey. 'Others have rental programmes and take a percentage of the rental income to pay for managing the costs.' You also need to consider the brand itself and the services it's offering, especially if it's not known for being in the hospitality sector. 'The value of a branded residence isn't solely determined by its relation to a prestigious brand, so buyers should be wary of non-hospitality brands putting their stamp on residential schemes — it is about more than just adding a logo!' flags Leigh. With the supply and spread of branded residences expanding so significantly, it's worth considering their potential for investment. '[Dubai and Miami branded residence markets] have boomed in the last five years but how successful they will be in the long term has not been tested yet,' says Bailey. Dubai's property market has doubled in value in the last two years so it's difficult to work out how much of this increase is down to growth in the region as a whole. Picenoni agrees: 'Branded residences were borne out of the luxury hospitality industry and are first and foremost a lifestyle purchase, as opposed to an investment.' Read more: How school fees can affect your mortgage borrowing The pros and cons of getting a mortgage into your 70s How to choose where to live as you get olderError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-07-2025
- Business
- Yahoo
What are branded residences and who's buying them?
Branded residences, in their modern capacity, have been around since The Four Seasons Boston opened in 1985. They are defined as high-end developments, associated in some way with a luxury brand that provides additional levels of service and management. The brand is usually a hotel, but car, fashion and other luxury goods labels are increasingly entering the market. Residences are purchased rather than rented, but owners then make use of the development's on-demand services, including restaurants, room service, spa facilities and golf courses, for an additional fee. They can also use the housekeeping and concierge services, so everything is ready and runs smoothly while they are staying at their residence. 'Branded residences provide the opportunity to access high-quality services, amenities and design credentials typically associated with luxury brands,' says Charles Leigh, sales director of The Whiteley. 'The association with a reputable name provides buyers with assurance in their investment.' Brands that have entered this space include The Four Seasons, Six Senses, Rosewood and Ritz-Carlton hotel groups; Ferrari (RACE) and Bentley in the luxury car industry and fashion labels Fendi, Armani and Bulgari. 'There are more than 220 brands active to varying degrees within the sector,' says Nico Picenoni, Savills head of global residential sevelopment consultancy. 'The brands are predominantly hospitality brands, but also include automotive, food and beverage, design, fashion and other industries. Read more: The pros and cons of buying property off-plan 'Brands possess an emotional appeal to purchasers who trust and confide in the brands, which in many cases have been operating luxury hotels for decades.' Branded residences are popping up all over the globe, but the US is still a hotspot. 'North America, the birthplace of the sector, was the single, most active region until 2015, when its contribution to the global landscape dropped below 50% for the first time,' says Picenoni. 'The Middle East and Africa are expected to see the strongest growth at 270% over the next seven years, while Asia Pacific is also on an impressive growth trajectory.' At a local level, there are two areas in particular that have seen significant expansion. 'There are hotel brands everywhere, but non-hotel brands are focussed on Miami and Dubai,' says Liam Bailey, head of global research at Knight Frank. New York and London are also seeing increasing numbers of branded developments. There's expected to be a 100% increase in branded residences over the next seven years and, over the next five, Savills forecasts that 60 new brands will enter the space, and the industry will reach five new geographies, including in countries such as Romania and Tanzania. As well as the initial purchase price, buyers of branded residences have to pay an annual service charge and then additional fees for extra amenities. 'Typically, residence owners enjoy essential services that are covered in their service charge, including the management fees that are payable to the brand. In addition to this, they enjoy access to á-la-carte services that are payable on consumption and may include private chefs, housekeeping, private transportation, and much, much more,' says Picenoni. As the on-going costs can be relatively high, potential buyers need to consider how long they will spend at the branded residence and which services they will make use of. Most branded residences are bought by ultra-high-net-worth individuals (UHNWIs) or high-net-worth individuals (HNWIs) due to their high cost. 'These are affluent individuals buying them as second homes,' says Bailey. 'I'm making an informed guess, but I'd say people in their 40s, 50s, 60s… Some of the big hotel brands have numerous owners who become collectors and have them as part of an investment portfolio.' Many purchasers, especially those buying in areas that aren't familiar to them, are attracted to a branded residence because they trust the brand and this gives them extra confidence in the development. 'There's a degree of value placed on the brand,' says Bailey. 'If you're buying outside your country, it's confirming that it's a sensible thing to do; it also makes sense as it's an easier purchase process.' The flip side of this is that you are paying a premium over non-branded residences that might have a similar offering or be better value. There are several watchouts that those purchasing branded residences need to be aware of. The first is the relationship between the brand and the developer. 'The developer owns the building, not the brand, and there is a licensing agreement in place,' says Bailey. 'Ultimately what you are buying is a residential property with a brand attached… In rare occasions, the brands might change. You need to look at the developer and the brand; is there a track record in the market for a long-term agreement?' It's also important to understand that branded residences vary across different regions so, even if you're buying with the same brand, the offering, fees and rules might be different. In particular, this may relate to whether you can rent the property out when you aren't using it. Read more: What is pre-application planning and can you do it yourself? 'In certain locations, brands don't allow you to rent out, you can only occupy,' says Bailey. 'Others have rental programmes and take a percentage of the rental income to pay for managing the costs.' You also need to consider the brand itself and the services it's offering, especially if it's not known for being in the hospitality sector. 'The value of a branded residence isn't solely determined by its relation to a prestigious brand, so buyers should be wary of non-hospitality brands putting their stamp on residential schemes — it is about more than just adding a logo!' flags Leigh. With the supply and spread of branded residences expanding so significantly, it's worth considering their potential for investment. '[Dubai and Miami branded residence markets] have boomed in the last five years but how successful they will be in the long term has not been tested yet,' says Bailey. Dubai's property market has doubled in value in the last two years so it's difficult to work out how much of this increase is down to growth in the region as a whole. Picenoni agrees: 'Branded residences were borne out of the luxury hospitality industry and are first and foremost a lifestyle purchase, as opposed to an investment.' Read more: How school fees can affect your mortgage borrowing The pros and cons of getting a mortgage into your 70s How to choose where to live as you get olderFehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
Zawya
02-07-2025
- Business
- Zawya
Dubai's Kamdar Developments eyes Saudi Arabia in regional growth push
Dubai-based Kamdar Developments is exploring opportunities in the GCC real estate market, particularly Saudi Arabia, as it continues to prioritise high-end residential projects. 'We closely monitor progress in Saudi Arabia, particularly with the enormous potential of Vision 2030 and the Kingdom's gigaprojects,' Founder and Chairman Yousuf Kamdar told Zawya Projects. He added that the private developer is open to forming joint ventures and partnerships with Saudi companies. Construction is progressing as planned on the 105 Residences project in Jumeirah Village Circle (JVC), with completion expected in the first quarter of 2027, Kamdar said. Interview excerpts: What market factors compelled you to launch 105 Residences in Jumeirah Village Circle (JVC)? As a business, we have been investing in the UAE for 40 years. We have seen the incredible rise of Dubai, particularly driven by visionary leadership and welcoming policies that attract businesses and investment. Demand to live and work in Dubai has only risen in recent years, with safety and quality of life driving an influx of new residents. In line with our ambitions for the company, we want to strategically acquire assets in locations that show good market fundamentals. As a whole, Dubai ticks virtually every box. Looking at JVC specifically, it is a good location with a growing community, with attractive options for residents. There is an increasing number of dining, shopping, entertainment, leisure, and lifestyle destinations emerging, which is driving both investors and end-users to seek well-constructed and well-managed properties. Who is the project's architect? What is its USP in terms of design? The project's design and architecture were done by Arec. The main USP of the project can be summarised as 'attainable luxury' – a place that has all the finish quality of a premium property at an affordable price point. We have carefully considered what people require – from wellness and fitness areas to relaxation zones and functional amenities. What process did you follow to appoint Luxedesign as the contractor? When do you intend to deliver/hand over the project? Luxedesign (LDV) is managing all stages of construction along with Arec. Fundamentally, we believe in delivering projects on time. It's an important part of building long-term trust. 105 Residences is currently on track and targeting a first quarter of 2027 delivery and handover. When did you acquire the land for the project? Are you now seeing an increase in land prices in JVC? Firstly, there has been an uplift in the underlying value of the project. We acquired ownership of the land in 2023 and have carefully planned its development. What is the total cost of the project? How do you intend to fund the project? 105 Residences is fully funded by us. We do not require third-party investment to complete the project. What will be the sustainable elements of the project? Sustainability is a very important aspect of our projects. Eco-friendly materials that meet green building standards and energy-efficient HVAC systems tie in with Nakheel's (master developer) framework for JVC. Wherever possible, we will also work with local suppliers, knowing that transport and logistics incur a carbon cost. The design and positioning of the building have also been considered to maximise natural light balanced with solar reflective materials that lower heat absorption – in effect, reducing interior lighting and cooling costs. Have you seen tender prices rise due to the UAE's booming real estate sector? Tender prices have increased across the board. Specifically, costs for suppliers and contractors for in-demand elements, such as MEP and the provision of structural materials, have risen. We try to mitigate this by leveraging long-term relationships and utilising decades worth of market knowledge. Are you seeing an increase in construction costs in Dubai? Are you concerned about it? There has been an increase in construction costs, as well as volatility in pricing, due to regional and international supply chain disruptions. There are various aspects to managing this, including locking in fixed pricing for materials, shifting elements of projects forward or backward dependent on requirements, sensible budgeting and forecasting that includes contingency pricing, cost tracking to quickly identify any potential areas of overspending before it becomes an issue, and streamlined construction processes that minimise construction waste. From our perspective, our projects across JVC, Meydan, Jumeirah Golf Estates and Dubai Hills continue at full speed. What are the biggest challenges you see in the coming years and how are you planning to overcome them? The biggest concern at present is the escalation of hostilities in the region, which could impact the supply chain. There's also been some discussion of a market price correction – but our take on this is quite simple: is Dubai a popular place to live, and do we see that changing any time soon? The answer is a resounding yes: Dubai is the most popular place to live in the entire Middle East, and no, its popularity isn't going to diminish now or in the next hundred years. So, even if there are small cyclical dips, the overall trajectory and potential for capital appreciation in Dubai is upwards. How extensive is your project portfolio in the UAE? We are currently developing our flagship 105 Residences and multiple villa developments in Meydan, Jumeirah Golf Estates, and Dubai Hills. This includes a combination of public and private projects; therefore, we cannot disclose the overall development value of the portfolio. In addition to the UAE, the business continues to operate across the Middle East, Europe, and Africa, managing our existing property portfolio and a pipeline of developments. How much land bank do you own in the UAE? We have a substantial land bank in the UAE. We have long-held ambitions to diversify the portfolio to other emirates – we are actively evaluating opportunities across Abu Dhabi, Sharjah and Ras Al Khaimah as part of our expansion strategy. Are there plans to enter other markets in the Middle East? Currently, our focus remains on the UAE; however, other GCC markets are also of interest to us. Given our focus on the luxury development segment, we closely monitor progress in Saudi Arabia, particularly with the enormous potential of Vision 2030 and the Kingdom's gigaprojects. We remain open to joint ventures and partnerships with local Saudi businesses seeking an agile developer. What is your outlook on the real estate market in the UAE, particularly Dubai's off-plan market, for 2025 and 2026? For the most part, we will see continued momentum driven by investment. The population in the UAE continues to grow, driving demand for real estate. Overall, pricing trends are difficult to neatly categorise into one box, as the market is more nuanced. However, developments that are well-located, offer excellent amenities, and have accessible price points will be popular – we certainly see 105 Residences meeting these criteria. (Reporting by P Deol; Editing by Anoop Menon) (
Top Gear
17-06-2025
- Automotive
- Top Gear
You can do a poo in this $37.5m Bentley*
You can do a poo in this $37.5m Bentley* Only problem is it's permanently, um, parked in Miami Skip 14 photos in the image carousel and continue reading Turn on Javascript to see all the available pictures. 1 / 14 Like spending time in your Bentley but wish you didn't have to get out to defecate? Adore using your Bentley in town and have no desire to drive it into the countryside? Then we've good news – here's an official Bentley product that never leaves the city AND comes with a free loo. Regrettably, this isn't a special edition Bentayga motorhome (we've got ideas, Bentley factory – call us). What we have here, for a cool $37.5 million, is a Bentley penthouse. Advertisement - Page continues below Yes, welcome to Property-Watch, where we keep an eye out for the posh residences dreamt up by carmakers. It's… not the busiest section of the Top Gear universe, if we're honest. Mostly because carmakers usually stick to making cars. Not Bentley. So here we have the penthouse on top of the new Bentley Residences Miami building. Your view? The clear blue waters of Sunny Isles Beach. Your furniture and décor? Inspired by the flowing lines of Bentley cars, apparently. And if you turn it upside down the coffee table actually says 'Volkswagen' underneath. Only joking. The Crewe-based carmaker has a whole 'Bentley Home' department dedicated to this calibre of high-end living. And the penthouse does feature recognisable cues from road-going Bentleys, sort of. There are natural stone and wood facias. Ambient lighting. And launch control. Okay, joking again. The building houses everything a Bentley owner would expect – a spa for humans, a spa for pets (really), a beauty salon (for humans again), a whisky bar, a cigar lounge (still for humans right?), and a restaurant. But no water park or bowling alley. Advertisement - Page continues below Our favourite feature, and we're being deadly serious, is something called the 'Dezervator'. Sounds like a villain in the Harry Potter universe, but in fact it's a 'patented vehicle elevator' which will carry you and your car all the way from ground level up to the top-floor apartment. You don't even have to get out of the car. It arrives into a glass-sided garage with ample parking and seven EV charging points. Views of the beach included? Naturally. So, if you're in the market for a new Miami pad and like the smell of Bentley upholstery, let us know when the guest room is free... Top Gear Newsletter Thank you for subscribing to our newsletter. Look out for your regular round-up of news, reviews and offers in your inbox. Get all the latest news, reviews and exclusives, direct to your inbox. Success Your Email*
