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United Arab Emirates Procurement News Notice - 84492


Procurement News Notice

PNN 84492
Work Detail RDK Group launches Tower Two at Marriott Residences Al Barsha South, lines up two more projects The UAE’s property market is witnessing an increased demand from high net worth individuals (HNWIs) and expatriates for branded residences that offer a blend of privacy, luxury and integration of leisure and work facilities, according to a senior official of a Dubai-based property developer. “The UAE’s real estate market continues to thrive, with branded residences playing a pivotal role in attracting global investors and residents seeking luxury and service,” Raja Zeidan, COO of Rashed Darwish Al Ketbi (RDK) Group, told Zawya Projects. He said these projects are developed in collaboration with renowned global brands, offering residents premium services and amenities. RDK recently launched Tower Two at its Marriott Residences Al Barsha South project in Dubai. “Branded residences in Dubai primarily appeal to HNWIs, expatriates, and globally-minded investors seeking properties with exclusive features and superior service standards,” said Zeidan. "We are seeing a strong demand for residences that offer a blend of privacy, luxury, and seamless integration of leisure and work facilities." He observed that branded residences enhance Dubai’s appeal to a global audience and provide a differentiated offering in a competitive market, noting that such projects have a positive ripple effect on the local economy as HNWIs contribute significantly to local businesses, from retail to dining. Additionally, these properties elevate the overall hospitality standards in the area, creating new benchmarks for service excellence. Long-term investment According to the RDK executive, the long-term investment potential of branded residences is high as they offer higher long-term value and investment stability compared to traditional luxury properties due to their association with reputed brands that maintain rigorous quality and service standards. Zeidan continued: “This brand association enhances asset value over time, especially when located in high-demand areas. Branded residences also see stronger demand in the resale and rental markets, as they offer both a prestigious address and lifestyle advantages, which is increasingly important to today’s global investors.” On factors that influence the premium charged on branded residences and pricing, he said: “Pricing for branded residences generally reflects several factors such as reputation of the brand, the property’s location, and the quality of services and amenities provided. Architectural quality, exclusive owner services, and meticulously curated design details also add to the overall valuation and premium of the property.” “These factors were taken into consideration while creating Marriott Residences Al Barsha South which integrated fitness facilities, landscaped gardens and eco-conscious materials throughout the property,” he said. The project offers unit types ranging from townhouses to penthouses and apartments. With Tower One now 90 percent occupied, Tower Two introduces 137 fully furnished units across 24 floors. Zeidan said the evolving needs of residents are heavily influencing developers’ approach to design, with an increased focus on wellbeing, convenience and sustainability. “We have designed Marriott Residences to accommodate hybrid living with adaptable layouts and advanced technology for seamless connectivity. We also prioritise sustainable building practices, reflecting a broader commitment to both luxury and responsible living,” Zeidan said. He added that project differentiates itself with unique amenities such as a dedicated Owner’s Lounge, high-end meeting rooms, and round-the-clock concierge and security services. Two more projects RDK Group is expanding its footprint in Dubai’s branded residence sector, with two more developments - The Westin Residence and the Autograph Collection, in partnership with Marriott International. The developer is also actively exploring opportunities in other key markets within the UAE and the region in line with its vision to deliver high quality, lifestyle-driven developments.
Country United Arab Emirates , Asia
Industry Construction
Entry Date 10 Dec 2024
Source https://www.zawya.com/en/projects/construction/uaes-branded-residences-surge-in-popularity-it206qdk

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