Summary
Luxury car brands like Bugatti, Porsche, and Aston Martin are expanding into real estate by building expensive residential skyscrapers, often called branded residences. These apartments cost millions and appeal to wealthy buyers who want to experience a brand's lifestyle. Dubai is a leading city for these developments, attracting rich individuals looking for luxury homes.
Key Facts
- Bugatti is building a 43-story residential tower in Dubai with apartments starting at $5.2 million.
- The tower includes features like large lifts for cars to be parked inside the apartments.
- Famous buyers of these residences include celebrities like Neymar Junior and Andrea Bocelli.
- Global demand for branded residences has increased with 611 projects today, expected to grow to 1,019 by 2030.
- The U.S. has the most branded apartments, but the Middle East is seeing rapid growth, especially in the UAE and Saudi Arabia.
- Branded residences can be 30 to 40% more expensive than other luxury homes.
- Luxury brands entering real estate are mainly doing so to create new revenue streams.
- Dubai is leading in the number of branded residence projects due to its attraction to wealthy individuals.
