Page 48 - Reside Magazine Lusk Associates

T oday’s branded residences are
havens that entice both brand
loyalists and clients who desire
a like-minded community.
These properties have subtle
details that impart authenticity
to every facet of living there. It might be in the
stitching on a leather couch that echoes the
craftsmanship found in a prized sports car, or
bathroom fixtures that resemble a favorite
handbag from an Italian boutique. Simply put:
today’s buyers want to live in style.
“The landscape of branded residences is
expanding rapidly,” says Alexandra Hare, vice
president of development marketing, Sotheby’s
International Realty Development Advisors.
“Renowned names in luxury goods are now
redefining residential experiences, offering
distinctive lifestyle amenities and cutting-edge
designs to cater to the discerning tastes of
today’s luxury consumer.”
Branded residences have existed for several
decades, but the trend notably picked up during
2020, according to global architecture firm
WATG. Since then, the firm has tracked 84 new
projects that have opened around the world. As
of 2024, the global branded residential market
is valued at $66 billion, according to a study
published in August 2024 by Luxonomy, an
online platform that provides insights into the
luxury industry. It also found that in the past
decade alone, the number of branded residences
has increased by 150%.
Miami, Florida and Dubai, in particular,
have emerged as key testing markets for branded
residences. The cosmopolitan hub of Dubai connects Asia, Africa and Europe,
while also attracting a global network of high-net-worth individuals. Similarly,
Miami connects Latin America, Europe and North America, while offering “
a vibrant international culture that attracts well-traveled, affluent buyers.
Both cities have experienced many firsts. For example, in 2017, Bulgari RENOWNED
Residences debuted in Dubai, marking the first residential project from the
Miami, is the Italian fashion brand’s first residential project in the U.S. Both NAMES IN LUXURY
Italian jewelry brand. And 888 Brickell Dolce & Gabbana, a 90-story tower in
of these prestigious brands. “Latin American buyers, who make up a large ARE REDEFINING Photos: © Dominican Republic Sotheby’s International Realty; Steiger & Cie Sotheby’s International Realty; Dubai Sotheby’s International Realty; ONE Sotheby’s International Realty.
Dubai and Miami are synonymous with the lavish lifestyles favored by buyers
part of Miami’s demographic, love brands and branded residences,” says
Miami-based Ignacio Gonzalez-Arias, global real estate advisor and business RESIDENTIAL
development, ONE Sotheby’s International Realty. “In my experience, the Miami
buyer wants to buy into a project that is also an experience.” EXPERIENCES
While brands once only collaborated on residential projects with hotels,
standalone branded developments are becoming increasingly common. The
desire for privacy and intimate experiences has heightened this demand. Brand-
name condominiums offer resort-style living without the transient nature of ”

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