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Published on 19/11/24, Updated on 11 hours ago
Marriott International is increasing its presence in the branded residences market across the Europe, Middle East & Africa (EMEA) region, with 70 projects currently in its portfolio. This includes 43 signed agreements and 27 open properties.
In the past two years, Marriott has signed 26 new agreements to introduce branded residences in key locations, more than doubling the number of agreements from the previous two years. These projects include both resort properties, such as The St. Regis Residences, Casares – Costa del Sol in Spain, and urban residences like W Residences at Dubai Harbour. Marriott’s portfolio offers a wide variety of residential options, catering to different buyer preferences.
Recent announcements include The St. Regis Residences, Casares – Costa del Sol, which marks Marriott’s first branded residence in Spain, offering a luxury living experience along the Mediterranean coast. Additionally, The Ritz-Carlton Residences, Dubai, Creekside will offer 200 residences across multiple buildings and mansions, featuring yacht berthing options for residents.
“As Marriott continues to meet the increasing global demand for branded residences and world-class luxury experiences, the EMEA region, home to some of the world’s most coveted and iconic destinations, has been a key driver of our accelerated growth,”“Through providing extraordinary benefits for both developers and Residence Owners, we continue to strengthen our industry-leading position in the segment, and I couldn’t be prouder of the work the company is doing to bring such extraordinary residential projects to life.” – Dana Jacobsohn, Chief Development Officer, Global Mixed-Use Development.
Marriott is also expanding in Portugal with planned developments in the Algarve. The Residences at The Westin Salgados Beach Resort, Algarve and Marriott Residences Salgados Resort, Algarve, set to open in mid-2025, will bring Marriott-branded residential options to the region. Meanwhile, in Saudi Arabia, The Ritz-Carlton Residences, Diriyah has launched sales for a collection of villas, apartments, and duplexes designed with inspiration from local heritage.
Several Marriott branded residences have seen rapid sales. For instance, The St. Regis Residences, Financial Center Road, Dubai sold 70% of its units within the first hour of its sales launch, while W Residences Manchester sold 98% of its units in under six months. These sales figures demonstrate the strong demand for branded residences in sought-after locations.
“Marriott is proud to work with some of the industry’s top developers across EMEA, who are an essential part of our company’s continued success,” “Through the combination of best-in-class developers, renowned design experts, iconic destinations, and people-first service, Marriott’s industry-leading value proposition is well-positioned to continue bringing premier and luxury lifestyle offerings to Residence Owners.” – Jaidev Menezes, Regional Vice President, Mixed-Use Development, EMEA.
Marriott is also set to complete several projects, including Nujuma, a Ritz-Carlton Reserve Residence in Saudi Arabia, offering an exclusive escape with access to the Red Sea. The Residences at St. Regis Al Mouj Muscat Resort in Oman and The Ritz-Carlton Residences, Baku in Azerbaijan will offer high-end living in culturally rich destinations, with both developments expected to open by the end of 2024.
These developments emphasize Marriott’s commitment to expanding its branded residential offerings across the EMEA region, providing luxury living options that appeal to a broad range of buyers. Marriott’s brands offer developers a strong market presence, contributing to faster sales and higher value, while residence owners benefit from exclusive services through Marriott Bonvoy’s ONVIA platform.
With its growing portfolio of branded residences, Marriott continues to strengthen its position in the luxury residential sector, offering developers and buyers alike a range of prestigious living options.
