Branded Residences—Tied to Names Like Bentley and St. Regis—Defy the Real Estate Slowdown
The number of such hotel- and luxury-affiliated housing developments is on track to more than double by 2031
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Demand is booming for homes in developments affiliated with luxury hotels and lifestyle brands from Ritz-Carlton to Aston Martin and Armani.
There are a total of 720 branded residence developments worldwide, a figure that’s expected to double, with another 790 project in the pipeline through 2031, according to a report from Savills Global Residential Development Consultancy, released Monday.
Dubai is far and away the leader in the space with close to 60 completed branded-residence projects, and around 70 planned developments in the pipeline. South Florida is next, with more than 40 completed projects, and another 40 developments planned from Miami to Palm Beach.
New York is third for completed projects, while Cairo in Egypt takes third for planned developments.
Other active markets include Phuket in Thailand, Da Nang and Hoi An in Vietnam, and the Riviera Maya in Mexico.
Branded residences have proved resilient even as housing markets have broadly slowed amid rising interest rates. Their hotel or brand affiliation lends its imprint of familiarity and prestige, while many are co-located with a hotel where residents can access services and amenities or put their residence in a property-managed rental pool when it’s not being used.
While the branded residence was born in North America, other markets quickly opened up to the concept. The U.S. was the most active space for branded residences through 2015, after which its share began to dip below 50% of all projects. By 2031, it’s expected to make up just 25%, with the Middle East and Africa markets expected to grow at 270%, per Savills.
Branded residences have also taken hold across Asia Pacific.
“Beyond our forecast period, we expect to see an increase in the number of branded residential developments in Asia Pacific and for the region to rival North America within the next 12 years,” said Rico Picenoni, head of global residential development consultancy at Savills. “With highly active markets, such as Vietnam and Thailand exhibiting 10% annual growth, combined, and burgeoning markets such as Japan and South Korea exhibiting more than 50% annual growth, combined, it is not unrealistic that Asia will surpass North America.”
While hospitality companies are leading the charge in branded residences, seemingly every brand in the world has jumped on the real estate bandwagon, from car brands like Porsche and Bentley in Miami, to luxury designer brands like Fendi, Armani and Bulgari, with the Bulgari LIghthouse in Dubai. In fact, Hotel brands accounted for 81% of branded residences in 2023, though its share is expected to decline to 79% in 2024, per Savills.
Among hotel companies, Marriott leaves all the others in the dust, with close to 150 completed branded residences and more than 100 in development. That’s driven by the Ritz-Carlton and St. Regis brands, two of the top three brands for luxury residences, and some of the earliest players in the game.
The Four Seasons is next for completed projects, fuelled by the Four Seasons brand, with over 50 completed and around 25 in the pipeline. Accor has fewer existing residences but rivals Marriott with more than 100 projects in the pipeline.
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Mirvac’s 45-level Trielle has topped out at Yarra’s Edge, pairing riverfront apartments with wellness facilities, private dining and resident services.
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Mirvac has topped out Trielle at Melbourne’s Yarra’s Edge, with more than 70 per cent of the riverfront development sold and approximately 80 per cent of purchasers intending to make their apartment a home.
The figures, released on September 22, point to an owner-occupier audience for one of the precinct’s final residential towers. Mirvac began developing Yarra’s Edge in 2003, and its latest addition occupies one of the remaining absolute riverfront sites.
Mirvac CEO of Development Stuart Penklis said existing residents were among those moving up within the neighbourhood.
“Many purchasers already have a connection to Yarra’s Edge,” Mr Penklis said, describing buyers whose changing needs were encouraging an upgrade within the precinct.
“As one of the final residential towers within Yarra’s Edge, Trielle represents the culmination of more than two decades of creating one of Melbourne’s most established and sought-after waterfront communities,” Penklis said.
“Positioned on the Collins Street axis with absolute river frontage, Trielle offers residents a rare opportunity to enjoy sweeping views across the Yarra River, Melbourne skyline and Port Phillip Bay, while remaining seamlessly connected to the CBD. With Trielle now more than 70 per cent sold, we’re continuing to see strong demand from buyers seeking quality homes in established locations.”
The developer also flagged a penthouse and sub-penthouse collection with larger layouts, premium finishes and broad outlooks. The planned wellness centrepiece, The Oasis, encompasses a 900-square-metre elevated urban rainforest.
Mirvac General Manager Residential Development Victoria Elysa Anderson said Trielle had resonated strongly with buyers seeking a rare lifestyle offering in Melbourne.
“Opportunities to secure a new luxury residence on a riverfront site of this calibre are incredibly rare, particularly within a community like Yarra’s Edge,” Anderson said.
“What makes Trielle unique is the combination of exceptional views, world-class residential facilities and the lifestyle that already exists around it. Residents are buying into a mature waterfront community with parks, promenades, dining, wellness and strong community connections already in place.”
The 45-level tower brings a substantial new presence to that waterfront. Its residential offering spans one-, two-, three- and four-bedroom apartments, with Signature, Prestige and Sub-Penthouse collections accommodating different household sizes. The north-facing position connects the apartments visually to the river and city beyond.
Seven storeys above the promenade, the planned Oasis combines planting and a running stream with a Scandinavian-inspired wellness club developed with spa specialist Naomi Gregory. Facilities include a 25-metre lap pool, hot magnesium pool, sauna, hydrotherapy, a gym, yoga and Pilates room, and treatment spaces.
The amenity extends beyond exercise. Residents will have access to The Biblioteca library and workspaces, ground-floor work pods, and The Salone piano lounge. A private Chef’s Table dining room offers a setting for larger gatherings, while a cinema, games room and sports lounge broaden the entertaining options. Concierge services and a dog-wash area support everyday routines.
Trielle comprises a collection of one, two, three and four-bedroom residences. Reflecting strong demand from owner occupiers, approximately 80 per cent of purchasers to date intend to live in their homes, highlighting the project’s appeal to those seeking a long-term waterfront lifestyle.
Mirvac has recently delivered The Albertine, a premium apartment development on the edge of Melbourne’s CBD, and is nearing completion of Prince & Parade in Brunswick, further strengthening its portfolio of thoughtfully designed apartment communities in some of Melbourne’s most sought-after urban locations.
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