Ali Sajwani shares his perspective on the crucial role personalization plays in transforming the luxury real estate market
New trends are constantly emerging in the ever-evolving world of luxury real estate. While it’s fair to say that not all of them stick, some stay the course and have a lasting impact on the sector. One such trend that I expect to remain relevant over the long term is personalisation.
Owing to the sums of money involved in high-end real estate transactions—with $10 million widely accepted as the entry-level in the ultra-luxury space—would-be buyers are demanding homes that reflect their specific requirements, personalities, and lifestyles. After all, few high-net-worth individuals (HNWIs) would be happy to spend tens of millions of dollars on a property only to find an identical unit next door.
Ultimately, luxury buyers want more than just a place to live; they want deluxe abodes tailored to meet their needs. In the UAE, particularly in Dubai, demand for bespoke properties is reaching new heights, and I see no sign of this trend abating.
So, what factors are driving personalisation within the luxury property space?
Improved client experiences
In addition to the physical properties being developed in the luxury segment, the need for personalisation is also impacting the broader home-buying process. As in other premium sectors such as retail, automotive, travel and others, a customer experience built around the individual represents a significant part of the appeal. With this in mind, any luxury developer worth its salt must provide clients with opportunities to craft their living experiences throughout the property-buying process.
It’s also important to remember that personalisation is about more than putting up shelves or painting the walls a different colour. It involves refining a home around the buyer’s life, making it efficient, enjoyable and unique. Examples from the luxury segment include the installation of private gyms, wine cellars and cinemas. Everyone’s priorities are different, so the range of potential customisations is as diverse as the customer base.
Of course, personalisation is by no means limited to surface-level fixtures and fittings. Many HNWIs like to share their homes with extended family, allocate special spaces for youngsters, and, more generally, create homes that can be passed on to future generations. For this reason, Cultural and traditional considerations often hold such significance for buyers, and luxury developers must remain mindful of these requirements.
As Founder and CEO of Amali Properties, I have made it my mission to develop bespoke and exclusive ultra-luxury villas that offer genuine resort living. Our team is committed to crafting a customer experience akin to a permanent vacation, but we also understand that everyone’s idea of the perfect holiday is different. As such, we are working tirelessly to deliver homes built around our clients’ specific needs, from majestic rooftops to enchanting water channels and everything in between.
Adding value to investments
When it comes to property valuations, personalisation can be a double-edged sword. On the one hand, the more customisation that takes place before the keys are handed over, the higher the final cost will likely be. On the other hand, numerous high-profile examples of properties have been modified to suit the particular requirements of their HNWI owners, who have yet to find a resale audience.
In the vast majority of cases, personalisation can make a property more saleable if it is handled with the future in mind. This is where it pays to partner with an experienced and reputable developer, one that can advise on how to implement modifications that will help rather than hinder resale.
Working with professionals who appreciate the need to future-proof assets is also essential. For example, luxury properties that include seamlessly integrated innovations are more likely to appeal to prospective buyers and added features such as bespoke security systems and intelligent lighting could significantly increase a home’s resale value. At the same time, technology is one of the most rapidly evolving sectors on the planet, so it’s helpful to figure out how updates can be integrated in a non-disruptive and cost-effective manner.
Provided such factors are accounted for at the outset, it is possible to ensure that personalisation elevates your real estate investments instead of weighing them down.
Delivering sustainability
In recent years, sustainability has become more prevalent in all our lives, and rightfully so. The UAE, in particular, has continued to mandate and incentivise environmentally responsible practices across the full spectrum of industry, and the luxury real estate space is no exception.
Personalisation is a hugely advantageous trend when it comes to sustainability. It enables property buyers to incorporate eco-friendly features—such as solar panels, remote temperature monitoring, and efficient water systems—into their homes.
Indeed, real estate personalisation in the luxury segment goes hand in hand with long-term sustainability. HNWIs are frequently the earliest individual adopters of sustainable innovations, thanks to their willingness to invest in fledgling concepts with the potential to minimise their environmental impact. Many of these technologies are tested, refined and scaled before making their way to the mass market once the associated financial costs have fallen.
Looking ahead
Personalisation remains a standout trend as the luxury property market continues to evolve, shaping the industry’s future. In addition to driving efficiency, capital appreciation and the client experience, customisation allows homeowners to create spaces that fully reflect and cater to their personalities and interests.
Any company that fails to empower its clients with the ability to personalise their properties has no business calling itself a luxury developer. What’s more, those who focus solely on physical features rather than adopting a more holistic view of bespoke real estate that encompasses factors such as amenities and lifestyle are unlikely to succeed in an ultra-competitive market like Dubai.
There are few certainties when it comes to real estate, but one thing I am willing to stake my reputation on is that demand for personalised properties in the luxury segment is here to stay.
Originally written by Ali Sajwani, Managing Director at DAMAC Properties, Founder & CEO of Amali Properties. Edited by Vibha Mehta.
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