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 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.
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."
