Re-defining “LUXURY PROPERTY”!
Samer Haddad
Senior Director - Projects @ Public Investment Fund (PIF) | Real Estate Development
“Luxury” is a word used to define and describe any object or even an idea that has great value and well-made within the international standards, for instance, luxury car or luxury style, Luxury speaks for itself.
?Many real estate developers call their projects “luxury” either out of ego or mostly because some of their projects are (branded) either by cars manufacturer such as Lamborghini / Pagani / Bentley or by furniture manufacturer such as Fendi, or by a hotel management chain or even by a fashion designer like Eli Saab, while not any of those are into property interior design or architecture!
?(Luxury property) is well-defined when you can mention the following important 4 points:
?Who is the architect? In real estate there are artists who are as great, but not famous as Picasso or Michael Angelo, you can find great names who designed iconic towers and projects across the globe, I will mention some of them, SOMA, ZAHA HADID, FOSTER & PARTNERS. Normally developers who build luxury projects are proud to mention the architect who came up with the memorizing design, otherwise it will be done by the engineers inhouse like most of the cases.
?Who is the interior designer? Interior designing is not furniture. It is the job and design put inside the units from the ceiling, the flooring, the kitchen with its appliances, height of the ceiling, light system, natural light angles and curves, washrooms I will also mention some of great names of real estate interior design, GILLES & BOISSIER, SUPER POTATO, ELICYON, TIHANY.
?Who is the contractor? The contractor is the Chef who is cooking the recipes of the architect and the interior designer, the contractor is responsible for the execution of the work, he must be super professional to deliver what is promised, the precision of the lines and curves in the ceiling and floors, the accuracy of the design at the terrace or the show kitchen and pantry. Even if the project is ready it is imperative to know who did the job.
?What are the amenities? Luxury amenities are different from the normal ones, usually they include the below,
·???????24/7 Concierge service.
·???????24/7 Valet service.
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·???????Room Service.
·???????Housekeeping Service.
·???????Butler service.
·???????Special Chef Service.
·???????Babysitter.
·???????SPA.
·???????Restaurants and retail area (Shops).
·???????Indoor cinema, infinity pool, kids’ area, GYM, Yuga STD, business center and indoor & outdoor gardens.
Realestate Investment and development Management consultancy
3 年Underwriting a ready job is also different than being a developer
Realestate Investment and development Management consultancy
3 年Great straight to the point