(Newswire.net — September 27, 2022) —
Demand continues to outpace the extremely limited supply in real estate markets worldwide. Dar Al Arkan Real Estate is one of the biggest property developers in Saudi Arabia, with an illustrious history of creating unique, luxurious residential properties that are highly coveted. Partnering with famed designers, including Versace, Missoni, and Italian sports car manufacturer Pagani, to design lavish living spaces is one way the company, which six families founded in 1994, sets itself apart from other property developers throughout the Middle East.
“Co-branding is one of the biggest trends in luxury living and real estate,” states Sheikh Yousef Al Shelash, the chairman of Dar Al Arkan. For high-end fashion designers, partnering up with the Saudi real estate developer to design magnificent interiors reflective of iconic brands is a natural extension of their talents. “It starts with dresses, jackets, shirts, tops, and skirts, and then the co-branding goes into eyeglasses, jewelry, shoes, handbags, furniture,” says Al Shelash. “Co-branding is now reaching cars, yachts, planes, and real estate. In addition, it is very popular with hospitality brands.”
Real Estate Trends in the Kingdom of Saudi
The chairman confirms that there are a lot of trends based on economic classes. “In the middle economic classes, there is a shift from stand-alone houses to apartments,” says Al Shelash. What’s causing the shift? “It is because real estate is becoming more expensive,” he explains. “So you have to, in a way, move from a villa into an apartment. At the same time, utilities are becoming more expensive, and the utility bills of a villa are totally different from an apartment.”
It’s undoubtedly a sign that the times are changing, notes Al Shelash. “Fifteen years ago, you would not see any Saudi national living in an apartment,” he says. “However, now there is a big trend of movement into and living in apartments, which has become an acceptable way of living.”
Dar Al Arkan: Building Amazing Apartments With State-of-the-Art Amenities
The property developer thrives on the cutting edge of trends — yet understands the delicate balance of creating unique, livable residences that meet the needs of not only Saudi nationals but anyone interested in acquiring a vacation home or second residence in the Middle East without sacrificing the finer things in life.
Its Urban Oasis by Missoni Home is a perfect example of a high-end apartment with a co-branded appeal. The exclusive waterfront residential tower in the heart of Dubai, United Arab Emirates, is the second in the world to have interiors by the famous Italian luxury fashion house renowned for its iconic zigzag design. In addition, the real estate developer made sure to include an assortment of apartment choices, from studios to one-, two-, three-, and four-bedroom apartments, so there’s something for everyone in the Urban Oasis by Missoni Home.
“The units at the Urban Oasis offer its residents expansive views of the Dubai Canal and the city. Each unit captures Missoni’s love for color and the vibes of its sister tower in Miami through varied elements of fashion and art. The Penthouses at the Urban Oasis are truly exceptional. Each exclusive penthouse comes with a private elevator that opens directly into spaces with 360-degree views of the Dubai Canal and the city,” states the company. “Each unit comes with a closed kitchen, expansive bedrooms with en suite bathrooms, and living spaces that radiate artistic brilliance and style. The penthouses are designed for the few who prefer to live life in an oasis sprinkled with the vibes of Miami.”
The property developer’s Parisiana project is found in Riyadh’s dynamic downtown area. The integrated community comprises 2,797 apartments and 254 villas that are considered to be some of the most sought-after lifestyle destinations in the region. In addition to the residential areas, the project offers office spaces, a public park, schools, mosques, and 63,000 square meters of retail space called Parisiana Boulevard.
The developer included the family-friendly Al Suwaidi Park in the Parisiana Riyadh project. According to the company, “The park has two segments, called the Family Park, occupying about 60% of the area, and the Youth Park, which occupies 30% of Al Suwaidi Park. The Family Park is located at a higher level. It includes many amenities such as restaurants, a pool area, a beautiful fountain that breaks into water tables, walkways, [mosques], and parking lots for about 150 cars.”
The developer’s W Residences Dubai — Downtown is the perfect place to purchase an apartment for people looking to live as though they’re always on vacation. Not only is it the only residential W Hotels brand property in the entire world, it’s also situated in the spotlight of the Burj Khalifa, the tallest manufactured structure in the world.
According to the company, “Step in a world of rebel luxury. The experience begins in the W Lounge, where a sophisticated and stylish atmosphere awakens your senses. Then, enter one of the exclusive 384 residences, where you will start feeling at home from the very first moment. Enjoy floor-to-ceiling glass facades, and staggered balconies allow plenty of sunlight in every room, while accent wallpapers underline their vibrant personality.”
Yousef Al Shelash: ‘The Main Cities of Saudi Are Really Looking More Alive’
According to Al Shelash, there are multiple reasons for these changes in the real estate market in the Middle East. “Definitely, the opening up of the markets in terms of becoming more open to the external world, and more open [to] mixing between men and women,” says the chairman. “Also, the opening up of many of the restrictions allowed more and more people to live in apartments and to reduce the number of fences around the houses, which is really adding a different flair to the city.”
Al Shelash adds, “Now you see the city as more alive because of the demolishing of these walls, and adding more landscape, and seeing more apartment blocks. So the main cities of Saudi are really looking more and more alive. This is one trend in the middle sector of the economy.”
According to Dar Al Arkan’s chairman, another trend, which is being vigorously driven by the government, is the construction of many areas to attract tourism to Saudi Arabia. “That is because historically, the only tourism that Saudi Arabia had was religious tourism: the people who want to come on pilgrimage to Saudi,” Al Shelash says. “They’re building a lot of resorts along the Red Sea. This is also something new in Saudi, and it shows how much the country has changed.” It also shows how well Dar Al Arkan is at evolving with the changing real estate trends throughout the Middle East.