The luxury property market in Dubai is currently at its peak, and experts are confident that this trend will persist, citing high demand as the primary driving force. Shreen R Gupta, the CEO & Partner of Grid Properties, a prominent player in major international markets like the United States, the United Kingdom, Europe, and Asia, expressed optimism about the future of Dubai’s luxury property market.
In an interview with Khaleej Times, Gupta highlighted the evolving nature of branding in the property sector, with renowned hospitality and fashion brands collaborating with developers. However, he also pointed out that a new wave of collaboration is emerging, with watchmakers and automotive brands entering the fold. Gupta predicts that in the future, the market will witness partnerships in wellness, technology, and other sectors, leading to unique lifestyle offerings.
Grid Properties is now extending investment opportunities to GCC investors who wish to diversify their portfolios and capitalise on potential markets in the aforementioned regions. The company has played a significant role in several high-profile developments, including the £175 million Lucan project in London, the Elie Saab Residences, and CQ Hub, among others.
During the interview, Gupta shed light on the factors fueling the surge in Dubai’s property market. He emphasised that demand is the primary driving force for developers, and innovation is a key characteristic of Dubai’s dynamic market. Lifestyle and branded developments, particularly in higher price brackets, are gaining traction as they offer a unique and exclusive experience that resonates with premium consumers worldwide. These developments enjoy global appeal, attracting both local and international buyers who see branded properties as safe and potentially lucrative investments.
Regarding lifestyle property development, Gupta stressed the importance of brand partnerships. Such collaborations add a layer of exclusivity and prestige to a project, making it an attractive option for long-term investments. The targeted lifestyle and specialised amenities offered by these developments draw discerning buyers who are willing to pay a premium for a superior quality of life and potential capital appreciation.
When choosing locations for lifestyle property developments, Gupta revealed that extensive market research is conducted, considering factors such as demographic trends, infrastructure, connectivity, and local regulatory environments. Iconic destinations, waterfront locations, and golf communities in global hotspots like London and Dubai are particularly sought after.
The target customers for these properties are those seeking enhanced amenities and services beyond what traditional properties offer. Luxury spas, concierge services, exclusive clubhouses, branded retail outlets, and access to unique experiences are among the features that cater to the growing demand for convenience, luxury, and personalised experiences. Gupta noted that the changing lifestyle demands of people, including how they live, work, and interact, are driving the need for enhanced lifestyle experiences in their homes, making these properties attractive to both investors and end-users.
Original article reference: Khaleej Times