FutureBrand’s Annual Gulf Real Estate Study
2 February 2010
FutureBrand launches the annual Gulf Real Estate Study
Crisis year in review: high and lows, what’s next and which brands have faired best?
The fifth annual edition of the Gulf Real Estate Study (GRES), launches today. The detailed report offers an incisive brand analysis of the Gulf real estate market during 2009, a year of record highs and lows. In just the last two months, the world has felt the impact of the news of the Dubai World potential debt default and the subsequent aftershock through global markets, and only weeks later, all eyes were on the opening of the tallest tower in the world.
GRES is an edit of specially commissioned research findings that reveal the current situation of the Gulf real estate market, its main developers and developments; and insights based on FutureBrand’s deep knowledge of the sector in the GCC. We examine emerging trends and new realities that will shape the way that development brands have to adapt to the shift in the market, and the key strategic issues that category brands in the region face this year.
Jae Hwang, Executive Director at FutureBrand in Dubai, contributor to the report and an expert in real estate branding in the region said: “Trust is going to be the main focus this year and beyond. After a series of delays, cancellations and poorly communicated messages; developers are going to have to overcome and manage a large degree of skepticism. They will have to focus on aligning their promises with their offerings and measurable results. The companies who can best protect and leverage their brand during these challenging times, will be those best positioned to capitalize on an upturn.”
The report examines what is happening in the wider region beyond the epicenter of Dubai: the successes and the failures that each country has witnessed; and the key shift from luxury brands to creating housing that serves every section of society. This edition of GRES also identifies new practices including the impact of city brands on the real state sector. Abu Dhabi’s investment and commitment to improving its brand is a notable example of this trend, and one which will have lasting benefits for the nation’s real estate market.
The Gulf real estate market has to address some critical challenges this year. It is easy to simply write-off the region based on the sensationalized news of the crisis in Dubai, but we must consider how the considerable investment in the region’s infrastructure to date, the wealth of resources and the size of the overall marketplace creates a compelling reason to remain optimistic for the long term. The shock of the market’s bust has subsided, the dust is settling and it’s interesting to see how brands will start their next phase of growth” said Mario Natarelli, CEO of FutureBrand North America and Middle East.
GRES provides an in depth review of the current state of the market, and forecasts trends for the future year as well as analyzing the best and worst performing brands of the last year. The only study of its kind, it is a valuable tool for governments, financial services firms, developers and investors alike.
Click here to view the full study.