The Porsche Design Tower is part of a rapidly growing slice of the luxury real estate market, known as branded residences, apartment buildings designed in partnership with global luxury brands. It’s a strange development in modern real estate, where a new class of apartment buildings functions less like housing and more like 3D brand experiences.
“For brands, standalone residences provide an opportunity to expand geographically without the operational intensity of hotel development—and provide an additional revenue stream,” says Riyan Itani, founder of Global Branded Residences, in an interview.
From the sail-shaped Aston Martin Residences overlooking Biscayne Bay in Miami to Fendi-designed apartments in Dubai, high-end brands once associated with sports cars, couture, and fine jewelry are increasingly lending their names and their design to real estate.
Luxury brands increasingly see real estate as the next frontier of brand immersion, says Markus Schreyer, a branding expert at Vanderbilt University, in an interview. High-end labels are “no longer only selling fashion, watches, or cars; they are selling access to a community, aesthetics, service philosophy, and emotional experience,” Schreyer says. “In many ways, this is the evolution from ‘brand’ to ‘ecosystem.’”
