Chris Graham, consulting partner, ESRAR Real Estate Consultancy, on how the branded residential living will have a significant role to play in the real estate market

Since the turn of the millennium, the influx of the world’s leading international hotel operator brands has seen Saudi Arabia’s hospitality offering continue to broaden at an impressive rate. Unsurprisingly, with the massive national infrastructure development, robust economy, strong domestic demand, and increasing openness and outreach programme to attract overseas visitors under the stewardship of the Crown Prince, world-famous brands are eager to plant their flags in the Kingdom’s super-prime locations with luxury hotels and residences. Whilst the associated branded residential real estate market is still at an early stage with only a handful of branded developments being launched (e.g. Kempinski, Paramount/Damac, Ascott), this is expected to become a significant growth sector in the real estate market. With such a large domestic concentration of high net worth individuals, an increasing number of expatriate workers coming to live and work in the country, and the imminent opening up of the market to foreign lifestyle investors, conditions are highly favourable for the expansion of the branded residence concept along with the many benefits that it offers.

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