Branded residences like Mysk are on the rise
In a time scarred by spiking rates and talks of a recession, there is seemingly one sector that is unaffected
Luxury residential developments tied to a well known hotel or lifestyle brand — are not a novel concept. While the first branded hotel residence debuted in the 1960s, recently, the popularity of these offerings has exploded globally in both scale and branded category with more firms eager to lend their licenses due to a demonstrated track record of attracting buyers, despite the lag in the larger residential sector. Mysk by Shaza is a five star hotel brand that is well known in the Middle East and boasts opulent Emirates style decoration and surroundings. Mysk will be one of many crown jewels at Everest Place. We have 272 condo units available for purchase.
Buyers, often those looking for secondary residences in remote locations, are now looking beyond traditional luxury amenities to higher levels of integrated services that provide a unique association with the values associated with the brand. With a strong focus on design and lifestyle, these offerings have continued to instill buyer confidence, with future homeowners often paying a premium for a stake in these projects. Mysk by Shaza not only has these higher levels but also boasts an alcohol-free environment with an ambiance that caters to your health and wellness.
How Do They Work?
In a nutshell, it is a partnership between a brand and a developer. Our Mysk branded Residences are a partnership between Mysk and Everest Place. Mysk granted a license to Everest Place to build, market and sell residences incorporating their brand aesthetic and values. These partnerships are starting to be more and more commonplace and will continue to rise.
Globally, these developments have proven to hold value for all stakeholders including the purchaser, developer and branded firm, with homes selling for a premium compared to their non-branded counterparts. According to Savill’s, on average luxury hotel branded properties sell for 16% higher than non-luxury branded schemes, while upscale brands achieve a slightly higher premium of 24%. The real appeal, however, is the turnkey, amenitized lifestyle these residences provide to the discerning buyer.
If you are curious about how to get involved with our branded residences, Mysk by Shaza, contact us today! We have pre-construction pricing open to investors.