Competition in the super-luxury residential market segment in Dubai is set to get hotter with Italian luxury brand Bulgari entering the real estate arena to compete with Giorgio Armani and Gianni Versace-branded properties.
Emirates 24/7 reported that Meraas launched the residential component of the Bulgari Resort and Residences in Jumeira Bay Island, saying sales will commence soon.
Though prices were not disclosed, the company claimed it would be at the "very top end" of the market. “We don’t disclose prices… we have two penthouses in London and five mansion in Bali and they are priced at very top end of the market. Here as well we will price it at the top end of the market,” Silvio Ursini, executive vice president, Bulgari, said.
The residential component will comprise 165 apartments, eight penthouses and 15 mansions. Apartments range from one to four bedrooms in six buildings, while the mansions will have three to six bedrooms. Besides, a 50-berth marina and a Bulgari Yacht Club will be part of the residential component.