Dubai leads world in branded residences with projects to double by 2030

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Dubai is the world’s leading hotspot for branded residences and supply is set to double by the end of the decade, according to property consultancy Savills.

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The fancy home market has grown a lot in the last decade, and it's staying strong despite global ups and downs. There are 640 fancy home projects worldwide, with almost 100,000 homes, and that's set to grow to over 1,100 projects by 2027.

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In Dubai, there are over 40 fancy home projects now, and more are on the way. The next best places for these homes are South Florida and New York City.

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Some recent fancy home news in Dubai includes the Mag of Life Mansions at the Ritz-Carlton Residences, Creekside, which cost a whopping Dh177 million each. Jumeirah Group also unveiled a new fancy home in Dubai, part of the Peninsula waterfront development.

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Around the world, fancy home brands want to find new places to build, and rich people who travel a lot keep wanting these homes. High net worth individuals have been growing the most in North America, the Middle East, and Asia Pacific. The UAE is expected to have 22% more rich households in the next five years, and other Gulf countries are also set to see more wealthy residents.

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The UAE's money is growing quickly, thanks to financial and real assets. More than 40% of the UAE's wealth comes from rich folks, and that's expected to go up to 43% by 2026.

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Even though Dubai, South Florida, and New York are still top places for fancy homes, the growth rate is slowing down. Many brands are looking for new cities and resort spots to build in.

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Back in 2010, Dubai got its start with the Armani Residences Burj Khalifa, which was the first fancy serviced home in the emirate. According to Simon Pitkin, there are two main areas for fancy homes in Dubai: Central Dubai, from Downtown Dubai to Jumeirah, and New Dubai, which covers The Palm Jumeirah, Dubai Marina, and Jumeirah Lakes Towers.

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