MENA region accounts for 19% of...

Dubai most active market, according to FHS World organisers

Branded residences, one of the fastest-growing sectors in hospitality, will take centre stage at FHS World, taking place in Dubai 30 September to 2 October 2024, with a full-day conference led by Accor One Living.

Debuting on 2 October 2024, the forum will explore the sector’s rapid growth in the Middle East and North Africa (MENA) region and examine key topics related to the development and operation of branded residences, including value creation opportunities, the growing array of branding options available to developers, the emerging trend towards standalone branded communities, and the arrival of non-traditional players such as luxury automotive and fashion brands in the sector.

According to Savills Residential Development Consultancy, the sector has grown by 160% globally during the past decade. Data shows that the Middle East – which is rapidly emerging as a global hub for the sector – currently has 45,000 residential units in 200 branded developments across 80 brands.

With a staggering 500% increase in branded residences in the last decade – from 10 in 2014 to 50 in 2023 with another 50 in the pipeline – Dubai is the most active market worldwide and now rivals Miami, New York and London as a world leader in branded residential development.

Saudi Arabia is also seeing significant growth, with a 65% surge in its branded development pipeline between 2022 and 2023.

Research by Global Branded Residences (GBR), a leading consultancy for the sector, shows that the US, where branded residences first started, represents 36% of existing projects but only 18% of developments in the pipeline, highlighting the extent of global growth.

The MENA region currently accounts for 19% of the global branded residences in existence and in the pipeline; Europe represents 16%; Asia Pacific 22% and The Americas 43%.

The world’s top locations for branded residences are Dubai, Miami, New York, London, Phuket, Sao Paolo, Los Cabos, Istanbul, Bangkok and Cairo, according to GBR.

Jonathan Worsley, Chairman of The Bench, organiser of FHS, said: “The Branded Residences Forum will bring together an elite group of industry professionals and innovators to take a deep dive into the sector’s growth, evolution and seeming endless investment opportunities.

"We are proud to partner with Accor One Living – a global leader in this field – to explore the importance of branded residences to our industry today, and how the sector will be a key driver in the future success of the hospitality industry on a local, regional and global scale.”

For more information, visit www.futurehospitality.com/ae

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