Pune (Maharashtra) [India], November 30: London-based global design brand YOO Worldwide and luxury real estate advisory company SQUAREA, with offices in Pune and Dubai, have entered into a partnership to market branded residences for luxury and hospitality developers with their inaugural project being a luxury development in East India.
The partnership aims to bring together the joint capabilities of YOO Worldwide's design and interior expertise along with SQUAREA's expertise in luxury marketing and sales and HNI portfolio management.
The branded residence segment, while growing at a 160% YOY, is a largely under-served segment, with only 690 developments or 'schemes' globally and a little over 600 more expected to be completed by 2030.
Branded residences offer an international standard lifestyle while meeting the expectations of an increasingly lifestyle conscious, globally aspiring clientele. They are also refreshingly different and help to reposition the portfolio of growing and emerging luxury developers and also enhance their corporate brand reputation.
The Indian market is projected to touch 1.65 million HNWIs by 2027, with UHNWIs expected to touch 19,119 individuals in the same period (up by 58%) from 12,069 in 2022 (Knight Frank, 2023).
Branded residences with their promise of a global lifestyle also interest the non-resident Indian segment interested in luxury homes in metros. The brand lifestyles, which come with these homes, are also similar to the lifestyle of global cities. Top designers and architects who work on such projects are already very reputed in their respective countries and such developments, therefore, need no formal introduction.
The opening project of the YOO and SQUAREA partnership will also see the involvement of Philippe Starck, personally, and will become the third project in India carrying his signature design and innovation.
Branded residences largely cater to the topmost spectrum of the home buying base -- the HNWI and UHNWI segment. These residences can serve as both primary residences or second homes, many a time in a second city of choice. This is where developers can command a brand premium, profitability and returns.
Commenting on the branded residences market, Aseem Agarwal - Co-founder of SQUAREA , explains, "Owning a branded residence is similar to owning super luxury cars or any designer products. It has become a social status, which India's large affluent segment is looking to adopt. HNWIs are always looking at marquee properties, which differentiates them by their lifestyle.
Today if we look at the premium and luxury real estate market, there are already a lot of projects in the market with a standard set of specs and amenities. This is where branded residences with their design and brand positioning stand out. Over a period of time, these will become classics and will ensure long-term value."
Commenting on YOO's growth in the category, James Snelgar, Partner and Head of International Business Development at YOO, mentions, "Having pioneered branded design in the real estate space, YOO has become the single largest residential brand with over 100 residential projects globally, across 36 counties. India is increasingly important to this trajectory, given the present and ever emerging, affluent and design conscious market.
We are starting to see branded homes resonate well across India, with design-centric living experiences becoming more and more important. All this aligns very well with our approach to lifestyle-oriented placemaking, and track record of adding value, visibility and velocity to residential real estate projects globally.
We are pleased to be working closely with SQUAREA, an advisory brand with strong credentials in luxury and presence in the key Indian metros. SQUAREA will offer strategic advice to potential YOO development partners, all the way through to marketing and sales."
About YOO Worldwide (https://www.yoo.com/):
Founded in 1999 by international property entrepreneur John Hitchcox and one of the world's most celebrated designers - Philippe Starck, YOO is today one of the world's largest non-hotel residential brands with 77 projects completed worldwide and 21 more under development. The brand is involved in the business of residential properties, hotels, bespoke homes, renewable energy, capital management and major mixed-use development projects.
The YOO brand has collaborated on the design for many international developments across world capitals and cities like London, New York, Moscow, Miami, Rio de Janeiro. With a flexible approach to design, YOO Design Studio's experience in over 36 countries has developed a strong appreciation for the local culture, customs and design requirements. For details, visit: https://www.yoo.com/about-us/
About SQUAREA (https://www.squarea.io/) :
SQUAREA specialises in end-to-end marketing, from strategy to sales of premium and luxury residences, branded homes, and Tier 1 commercial spaces.
The Company currently oversees the investment portfolios of more than 1000+ HNIs across 24 countries. Its management team comprises experts with extensive experience in real estate, financial services, luxury and consumer marketing, having facilitated combined transactions worth over USD 1 Bn in luxury real estate over the last decade.
Headquartered in Pune with operations in Dubai, SQUAREA has strong partnerships with both established and emerging luxury developers, and offers a premium portfolio of Grade A+ commercial properties. Since its inception, SQUAREA has established its position as a preferred partner for end-to-end services in the luxury and Grade-A commercial RE segments. For details, visit https://www.squarea.io/about-us/
(ADVERTORIAL DISCLAIMER: The above press release has been provided by PRNewswire. ANI will not be responsible in any way for the content of the same)