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Premium interiors for luxury real estate in Dubai. Where is the market heading?

The leading company in the premium interior design industry KATZ has set its sights on the Persian Gulf market with a focus on Dubai, where demand for real estate and its value are increasing every year. According to a report from one of the largest global real estate consulting companies, Knight Frank, luxury real estate in Dubai has appreciated by nearly 50%.

Dmitry Holomyev, co-owner of the company KATZ, shared insights about the main trends in the industry as well as trends in the field of interior design.

Finding increasingly rare opportunities for buying 

“The preferences of discerning high-budget real estate buyers are shifting towards exclusive properties with unique features and offerings. In the current conditions, investments in such square footage can promise the highest returns,” notes Dmitry. “First and foremost, I would recommend defining your investment strategy and its objectives. I would highlight three main ones — for capital growth, for rental purposes, or a ‘mixed strategy,’ which involves acquiring property during the construction phase, completing it, and subsequently renting it out. As for average returns, in the premium real estate segment, it ranges from 3-4%.

It is worth noting that the exclusivity of a property is determined not only by its location and size but primarily by its interior. Uniqueness is seen in terms of customization, the choice of finishing materials, and the selection of designer furniture. Working worldwide, I can observe that clients are increasingly inclined towards personalization. They value creating something unique that becomes a distinctive element of their story, rather than acquiring products from global manufacturers. Considering this trend, I see a clear advantage for our company — providing turnkey interior design solutions. This means that the client simply needs to share their vision for their future home, and after some time, they move into a fully finished space where everything is meticulously thought out, down to the smallest details — paintings, slippers, accessories.

Our niche is the realization of premium real estate properties, including private, commercial, sports, and other spaces ranging from 500 square meters. Currently, we are constructing several elite real estate units with areas of 1400 and 1600 square meters. An evident trend is the high demand and a lack of supply to meet it. When coming to Dubai, clients expect a level of service and implementation no less than that in premium areas of the UK or the USA. However, the market in the Emirates doesn’t always keep up: there’s a shortage of specialists in some places, qualifications are lacking in others, and there is a lack of knowledge about standards. Our European experience allows us not only to satisfy but to surpass the expectations of High Net Worth Individuals (HNWI).”

We design a turnkey residence that is bespoke from top to bottom. Every ceiling and door detail and piece of joinery is designed specifically for that project. Nothing is off the shelf. We specify the type and cut of every piece of marble and ensure it’s fitted perfectly. Every chair, headboard and chandelier is bespoke. There is no limit to how turnkey we can be. Many of our clients are art lovers and collectors, so will visit galleries with us and engage in detailed conversations about the artist and the meaning behind the work. Some are wine collectors and will have stringent requirements for temperatures and humidity levels, depending on how different bottles need to be preserved.”  

HNW buyers are choosing turnkey

UHNW buyers either don’t want the uncertainty of cost or time scale when it comes to projects, or they don’t have time on their side. If they have children in their early teens, they realize that once they undertake a project, which could take two to three years, their children will have a few years left at home.

For buyers looking for a turnkey property — either as an investment or for their own home — this is a niche in which we at KATZ have extensive experience and expertise. We take projects from concept to completion. For our clients we are a sole point of contact throughout, involving them in the minutiae of the detail as much or as little as their desire and, ultimately, deliver a property of the highest quality that offers the best possible living experience.

At KATZ, we have in-house specialists to handle 95% of any project, including architects, designers, technicians and project managers. For the rest – whether it’s sourcing a property or dealing with a specific planning issue — we will call on our close network of trusted experts.”   

Features of interior design in the Middle East region

“In a vibrant metropolis where innovation is part of the way of life, interior design goes beyond mere functionality and becomes a reflection of luxury, culture and contemporary style. In particular, I would note the following features.

A fusion of tradition and modernity. A rich heritage is succinctly combined with modern elements. Using Arabic motifs in details, cultural elegance increasingly prevails.

Luxurious minimalism. Clean lines, neutral color palettes and understated elegance define this trend, where each piece of furniture and decor serves a specific purpose.

Vector for stability. As global consciousness shifts towards sustainability, interior design is also using eco-friendly methods and materials. From reclaimed wood and recycled glass to energy-efficient lighting and green-filled interiors, sustainability is no longer just a trend, but a guiding principle in design.”

Dynamics of development of the Dubai real estate market

“According to S&P Global forecasts, the UAE economy will grow by 2% this year. A similar increase is expected in population growth. The rise in real estate prices will continue, but will not be as significant as in the last few years. The market is expected to remain stable and provide investors with strong inflation protection.

We are now focused on opening a central office in Dubai. The plans include the rapidly developing region of Saudi Arabia and Qatar. In addition, we are diversifying our areas of work, collaborating with both end consumers and developers.”

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