Residential complexes built in collaboration with hotel brands have become increasingly popular in recent years. One such example is The Ritz-Carlton Residences in Creekside, Dubai, an exclusive collection of designer villas offering a sumptuous lifestyle with five-star hotel services and numerous premium amenities. Let’s review what perks a collaboration like this has and how it influences the price of real estate.
What are branded residences
Branded estates, luxury homes affiliated with a well-known brand, have become a popular real estate option globally. By partnering with a hotel, developers can offer units with the standard of service and quality that the brand stands for. Buyers are assured of a quality product that also reflects the same values and lifestyles they are familiar with. These complexes offer concierge services that can even outshine hotel offerings, acting more like a personal butler, appealing to high-net-worth individuals, and time-poor buyers who appreciate time saved on mundane tasks.
The facilities and concierge services are managed by the hotel, assuring owners of the quality and well-kept maintenance of the amenities. This concept began in the US in the 1920s, but only became more mainstream when the first hotel condominiums were presented in Boston in the mid-1980s.
Today, the developments appeal to buyers looking for a luxury home associated with a reputable label, offering quality service, amenities, and management, differentiating them from crowded global markets. By creating an additional income stream from licensing and management fees, companies can diversify their offerings and reach a different group of buyers. Developers are keen on this concept as branded housing draws higher premiums compared to non-branded developments.
There are three broad types of such developments: co-located, condo hotels, and standalone. Branded real estate are a win-win formula, where buyers, developers, and hotels all benefit.
About The Ritz-Carlton Residences
This development is situated in the distinguished Al Jaddaf area, right by the Dubai Creek. It is the inaugural residential project in Dubai that bears the renowned Ritz-Carlton brand name. The Ritz-Carlton Residences is part of MAG Keturah Resort, and it boasts of various health and wellness facilities accessible to its inhabitants.
One of the most exceptional features of this development is the Ritz-Carlton Residents Club, exclusively designed for elite residents. Members can enjoy an array of leisure rooms, a play area, a grand hall, a library, a cinema, a fine-dining restaurant, and a business center.
As for services, residents have access to top-tier amenities such as:
- concierge services,
- vehicle cleaning and maintenance,
- babysitting services,
- a sommelier,
- a translator, and more.
Benefits of the hotel-branded real estate
One of the most significant benefits of owning a place in a building constructed in collaboration with a hotel brand is the five-star services that come along with it. The Ritz-Carlton Residence offers professional services such as babysitting, translation, and sommelier services, among others. This means that residents can enjoy the luxury of hotel services from the comfort of their own homes.
Another perk of owning a home in a building built in collaboration with a hotel company is access to premium amenities such as health and wellness centres and fashionable restaurants. The development has all of these amenities and more, making it an exclusive and luxurious place to live.
One of the key features of residential complexes built in collaboration with hotels is their branded design. This means that the buildings are designed by world-renowned architects and interior designers, who bring their signature style and luxury to the project. As we can see, the project was designed by a famous French architect, Amar Sabeh, who created three styles of eight-bedroom mansions inspired by water, earth, and sky.
The Ritz-Carlton Residence offers a variety of exclusive amenities such as a private Ritz-Carlton Residents Club, indoor and outdoor kids’ club, concierge service, and access to the members-only beach of The Ritz-Carlton Residence Jumeirah Hotel. These amenities and services are not typically found in regular residential complexes, making this project a unique and exclusive offering.
Price of hotel-branded real estate
The Ritz-Carlton branded complexes can be found in many other cities of the world, e.g. Istanbul or Bangkok. While the price of such residential complexes may be higher than regular residential complexes, the added luxury and amenities make them an attractive investment if you are seeking a lavish and exclusive lifestyle. You can check out the prices of units in the development by contacting specialists of the https://www.axcapital.ae/ agency.
Aside from the lifestyle benefits, this real estate has also been proven to be a sound investment. According to multiple reports, such housing has consistently outperformed ordinary luxury properties in terms of price appreciation and rental yield. In fact, some branded residences have recorded rental yields of up to 7%, which is significantly higher than the average rental yield of luxury properties.
Of course, with all these perks comes a hefty price tag. Branded residences are not for everyone, as they are targeted toward individuals who are willing to pay a premium to get the exclusivity and luxury they offer. The price of a residence can range from several hundred thousand dollars to several million, depending on the location and level of luxury offered.
However, for those who can afford it, the benefits of owning a home like this are well worth the price. They offer a lifestyle that is unrivaled, with access to exclusive amenities and services that are unmatched by any other type of property. And with the potential for high yields and price appreciation, such units are not just a luxury, but a smart investment as well.
In conclusion, branded residences offer a unique opportunity to own a luxury property that is associated with a well-known and reputable label. They offer a lifestyle that is unparalleled, with access to exclusive amenities and services that cater to the needs of wealthy individuals. While they come at a premium price, the potential for high yields and price appreciation makes them a smart investment as well. As the economy continues to grow and wealth rises, we can expect to see more of those popping up around the world, catering to the demands of the new rich who seek the ultimate in luxury living.
