The real estate market of UAE is recognized has emerged as an investment hot spot for international celebrity investors. In May 2002, the UAE Government sanctioned a new property legislation that allows foreigners to purchase properties in specific areas with freehold ownership rights. Ever since, real estate developers have consistently sought out international celebrities to endorse their projects.
Celebrity's interest to endorse Dubai Real Estate projects
Dubai is a glamorous destination and is known for its luxury lifestyle, world class events and exhibitions. International celebrities from Hollywood, Bollywood and sports started buying assets in iconic developments like Palm Jumeirah, Burj Khalifa and The World Island etc.
Famous Dubai Real Estate Projects Endorsed by Celebrities
Developers use sports stars and film celebrities to endorse projects, as it can significantly increase awareness and unit prices in a project. Becoming the neighbour of David Beckham, Shahrukh Khan or Brad Pitt can sound appealing to investors. Celebrities are not only endorsing residential and commercial projects, they also take interest in sports facilities, hotels and islands in manmade archipelago. Read further to know about few remarkable celebrity endorsements in Dubai real estate sector.
- Brad Pitt and Angelina Jolie: In year 2007 Brad Pitt and Angelina Jolie purchased a private island in an exclusive waterfront “The World”. Their primary aim was to buy an island to improve concept of green living!! Furthermore, the island also provides sufficient space to build their house with unmatched privacy.
- David Beckhams' House: David Beckham bought his first home in Dubai in year 2002; he spent $ 1.6 million to buy a super luxury home on The Palm Island. Later in 2009 he bought another luxury apartment in world’s tallest tower, Burj Khalifa that cost £5 million.
- Shahrukh Khan: Bollywood star Shahrukh Khan, shows great interest in Dubai property. Shahrukh possess a signature villa in Palm Jumeriah. He also endorsed SRK Boulevard, a resort style project located at the beach front in Ras Al Khaimah.
- Hillary Swank: An Academy award winning actress, Hillary endorsed a development Aquitainia, in ‘The World Island’ in year 2008. It is a manmade archipelago consists of 300 islands situated 4 kilometers away from Dubai coast. She hosted the launch show for this project.
- Boris Becker: Renowned Wimbledon champ Boris Becker agreed to quote his name with a commercial real estate project in Dubai. He endorsed a 19 storey freehold tower in the centre of the business district with total cost of AED550 million.
- Giorgio Armani: Giorgio Armani is a world renowned Italian fashion designer who partnered with Emaar Properties in year 2004 in the world’s tallest tower in Burj Khalifa. Armani Hotel was inaugurated in April 2010, two months after official inauguration of this tower. He was responsible for complete interiors of hotel.