Developers in Dubai are now trying everything to improve product endorsements.
According to Enshaa CEO Raza Jafar, the developer behind the Palazzo Versace Dubai, developers should not opt for brand collaborations as a ‘desperate measure’ to lure in customers or investors.
Speaking to Arabian Business, Jafar said brand collaborations will fail if they are not set up with a long term strategy in mind.
He foresees that the market will see more brand collaborations with car and jewellery brands in the future.
“I think there will be brand collaborations coming in. I keep hearing about it, but how many of them will actually come to fruition? I don’t know. But I’m hearing a lot about cars, jewellery and other [brand collaborations],” he said.
The Palazzo Versace Dubai is a joint venture between Enshaa’s subsidiary Emirates International Holdings and Australian-based Sunland Group Limited. It cost a whopping $626 million to build and is only second to the first Palazzo Versace Australia, which opened on the Gold Coast in 2000.
In 2011, Arabian Business reported that a further 12 Palazzo Versace hotels were planned worldwide.
But Jafar said the developer has “no plans” to open more of the branded properties in the region.
Other fashion-branded hotels in Dubai include the Armani Hotel Dubai and Bulgari Resort Dubai. Dubai developer Damac Properties has also collaborated with Versace on a residential tower in London, while Emaar Properties partnered with Lebanese fashion designer Elie Saab on a project in Dubai Harbour.