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Disney, Versace and Nadal: the rise of branded residences and why Hong Kong is an outlier
Hong Kong remains relatively untouched by the branded residences model, largely because of the strength of established local developers
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Branded residential property – projects affiliated with well-known international marques and built in partnership with a developer – continue to be dominated by hotel brands, as homebuyers prefer to obtain the same amenities or services from those establishments in their place of residence.
Non-hotel branded residences, however, have also become major players in this segment of the property market, as their developers target buyers who identify with and have a strong connection to a particular name brand, according to Riyan Itani, founder and director of the UK-based consulting firm Global Branded Residences.
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“So the attraction is – and this flows to almost all brands in the sector – that people are fanatic about brands,” Itani said.
“It’s like the ultimate collector’s piece,” he said. “If you’re a collector of Porsches or you’re a fanatic of Porsches, then having a Porsche-branded flat or villa would be the ultimate status symbol of your affiliation with that brand.”
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That brand affinity has spurred luxury fashion houses Versace, Fendi and Maison Margiela; carmakers Mercedes-Benz and Bentley; and even the Japanese dining marque Nobu – founded by celebrity chef and entrepreneur Nobuyuki Matsuhisa – to lend their prestige to residential projects.
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