Developers in Dubai are consistently driven to create iconic buildings and residential complexes that capture attention. The emirate already boasts a multitude of structures with futuristic architecture, such as The Opus, Cayan Tower, Emirates Park Towers, and Etihad Museum. Notably, Dubai is home to the world's tallest building, Burj Khalifa, while the construction of the tallest hotel on the planet, Ciel Tower, is nearing completion. These architectural marvels contribute to Dubai's reputation as a hub of innovation and awe-inspiring design.
Collaborating with renowned global brands is a strategic approach to garnering widespread attention for new construction projects. According to ValuStrat's research, properties associated with well-known brands possess greater potential for profitability compared to other properties. This trend is particularly pronounced in the Middle East, where the emphasis on brands traditionally surpasses that of other regions.
Below are three projects under construction in Dubai created in collaboration with brands that have gained worldwide popularity.
Bulgari Lighthouse is an upcoming residential complex on Jumeirah Bay Island, serving as an expansion to the esteemed Bvlgari Resort & Residences. Established in 2001, this luxury hotel chain was founded by the renowned jewellery brand Bvlgari. The architectural design for the project has been meticulously crafted by the esteemed Italian architect and designer, Antonio Citterio, who has previously worked on other remarkable hotel ventures for the Bvlgari group. The construction of this prestigious development is being undertaken by the Meraas group.
The 31-storey tower, framed by spacious terraces, is located on a secluded left edge of the island. Right next to it is a 46-boat harbour and a natural travertine promenade. The residents will also enjoy a park and a pool.
Situated at the pinnacle of the building is the magnificent three-storey Sky Villa, featuring a stunning gazebo. It's worth noting that Bulgari Lighthouse does not include smaller-sized flats within its offerings, focusing primarily on spacious and luxurious residences.
According to the latest data from Property Monitor, in February 2023, Sky Villa, measuring over 3,600 sq. m, was sold for a staggering 410 million dirhams ($111,638,000). This extraordinary sale set a new price record, surpassing Dubai's previous milestone of 163,460,000 dirhams ($44,501,000) for a penthouse at Atlantis The Royal on Palm Jumeirah by two and a half times.
Presently, the prices for penthouses in Bulgari Lighthouse span from 64,250,000 to 119 million dirhams (equivalent to $17.4 million to $32.4 million), with variations based on the floor level and area of the unit. The payment plan entails an 80% payment schedule during the course of construction, which is projected to be finalised by mid-2027. The remaining 20% is to be settled upon the handover of the apartment to its owner.
New buildings in the UAE
By the year 2026, this tower is poised to claim the distinction of being the tallest residential building globally, although specific details regarding its height and number of floors remain undisclosed. Binghatti Developers is undertaking its construction in the highly sought-after district of Business Bay in Dubai, in close partnership with the renowned American jewellery brand Jacob & Co. The architectural marvel will feature a crown adorned with diamond-shaped crystals, reminiscent of Jacob & Co watches and adorned with diamonds of a corresponding shape.
Experts from both companies are working together to meticulously craft the design and interior of the apartments, lobbies, pools, and other recreational amenities. In addition, Jacob & Co. is curating an exclusive collection of limited-edition watches and jewellery tailored specifically for the discerning buyers of the extraordinary hyper tower, as the developer calls the building.
The stated prices for apartments in Burj Binghatti start at 8 million dirhams ($2,178,000). There are no small flats here. The area of the smallest 2-bedroom apartment is 186 sq. m.
As per the payment plan, residents are required to make a 60% payment of the total unit price during the construction phase. The remaining 40% will be due upon the property handover.
Viewz is an exquisite residential complex comprising two magnificent 50-storey twin towers. Situated at Jumeirah Lake Towers, this development showcases meticulously crafted interiors by Aston Martin designers. The construction of Viewz is being expertly carried out by Danube Properties.
The architectural design features an infinity pool enclosed within a glass bridge, seamlessly connecting the towers at the rooftop level. Moreover, the buildings are thoughtfully equipped with various amenities, including indoor and outdoor cinemas, a well-equipped business centre, a state-of-the-art fitness centre, a tennis court, and even a cricket field.
Prices in Viewz begin at 1.5 million dirhams ($408.4 thousand). There is a diverse range of options to choose from, including fully furnished studios starting from 37 sq. m, generous apartments with 1, 2, and 3 bedrooms, as well as luxurious Sky Villas. The Sky Villas are duplex apartments located on the top floor, featuring 3, 4, and 5 bedrooms along with a private pool.
According to the payment plan, buyers are required to make a payment of 65% of the unit cost during the construction phase. The remaining 35% can be paid over a period of 35 months after the buildings are completed and operational in 2026.
In a Nutshell
Developers are increasingly embracing collaborations with renowned brands, leveraging their expertise to realise ambitious projects. This trend is expected to gain momentum in the coming years, with more residential complexes bearing prestigious names. Buyers and tenants alike place greater trust in real estate associated with well-known brands, considering them highly desirable. Consequently, apartments in such buildings tend to be highly sought after and offer excellent liquidity.
Cover photo: Bulgari Lighthouse