Vladislav Doronin is the founder, CEO, and chairman of OKO Group, a real estate development company that has developed landmark buildings across Miami, several other cities across the United States, and global destinations.
OKO Group is the development company behind the Missoni Baia tower, a landmark building that was designed by Hani Rashid of Asymptote Architecture, with interiors created by Paris Forino featuring Missoni Home throughout. This article will look at branded real estate and the advantages presented by purchasing prime property in a crowded global marketplace.
What Is Branded Real Estate?
Branded residences are usually created via a partnership between a particular brand and a real estate development company. The brand grants a license to the developer, enabling it to market and sell residences featuring the brand name.
In many cases, the brand itself services and manages residential properties as part of a mandatory or optional rental program.
In return for a license, the development company usually pays a marketing licensing fee or royalty to the brand on every sale. The brand may also levy design fees and possibly fees for technical services at the conception stage of the scheme.
Fees paid by the property owner include management fees and the usual service charges, along with a trademark license fee for incorporating the brand.
What About The Branded Real Estate Size And Unit Type?
Branded real estate sizes and unit types vary considerably depending on the location of the scheme. Furniture, fixtures, and equipment packages are mandatory where the buyer wishes to enter their property into a managed rental scheme.
High specification is an important factor in positioning a product, although it is no longer the sole distinguishing characteristic for branded schemes, particularly in mature markets.
What sets branded real estate apart from other property schemes is the services they offer. ‘Base services’ are typically incorporated within service charges for branded properties, entitling property owners to use hotel amenities, including concierge services. Therefore in some cases, certain dedicated amenities. Available at an additional cost, ‘on-demand services’ can include anything from pet services to housekeeping.
What Are The Advantages Of Branded Real Estate?
Now you know what branded real estate is. Therefore what about the advantages of taking the services from branded real estate?
Here are some of the glimpses of branded real estate.
Enhanced Marketing And Brand Recognition:
The primary developments benefit from the brand’s existing reputation and recognition in the market. This can help to generate interest in the development and attract potential buyers or tenants.
Higher Quality Design And Construction:
Branded real estate projects often involve partnerships with well-known architects, designers, and contractors. Hence these partnerships can result in higher-quality design and construction, which can increase the value of the properties.
Access To The Expertise Of The Brand Partner:
You can benefit from the expertise and knowledge of the brand partner. Hence it can include insights into consumer preferences, market trends, and best practices for design and construction.
Increased Demand And Pricing:
The association with a well-known brand can increase the perceived value of the development, resulting in higher demand and pricing for the properties.
Potential For Exclusivity:
Branded real estate projects are often marketed as exclusive or premium developments, hence which can appeal to high-end buyers or tenants.
You can see how branded real estate can provide a competitive advantage in the market and help to differentiate a development from other projects. This can result in higher sales prices, faster sales cycles, and increased profits for developers.
How Is The Branded Real Estate Putting Its Name?
Branded real estate enables a brand to put its name on prestigious property projects. Branded properties may be affiliated with a luxury brand, sports brand, or even a celebrity. Branded properties ultimately create a ‘story’ for the project, presenting a new investment opportunity for consumers.
Taking its name from the luxury fashion brand Missoni, Missoni Baia is an iconic collection of 249 Edgewater condominium residences that celebrate the appeal of waterfront living in a timeless, relaxed, and modern style.
Cutting a prominent figure on the Miami skyline, the property stands 57 stories tall, spanning 200 feet along Biscayne Bay.