Luxury fashion brand Dolce&Gabbana makes real estate entry with Dar Global in Maldives
This is uber-fashion label's first entry into real estate, in tandem with Dar Global
Dubai: The Saudi developer with a London stock market listing, Dar Global is sticking with a luxury label – Dolce&Gabbana – for its entry into Maldives. As for Dolce&Gabbana, this marks the fashion label’s first attempt at finding its feet in real estate and hospitality.
"We are thrilled to bring the world-renowned ‘Made in Italy’ brand ambassador, Dolce&Gabbana, into the world of real estate and hospitality,” said Ziad El Chaar, CEO of Dar Global. “Our partnership represents a unique interpretation of the brand's Italian spirit. We look forward to working with Dolce&Gabbana to bring their vision to life."
Details of the proposed Maldives project have not been released, but Dar Global has a track record of aligning with fashion and luxury brands to make a real estate statement. In Dubai, there is a project with the sportscar brand Pagani, while the Saudi entity has another with Cavalli in the Kingdom. Recently, in Qatar, Dar Global struck an alliance with Elie Saab for a niche project. (The developer also has a project in Oman with The Trump Organization.)
Global super-luxury brands are venturing into the real estate/hospitality space as wealth flows seek out new investment possibilities in the UAE and Gulf.
Dar Global's London listing came about as part of changes at the Dubai-based operations of the international arm of Dar Al Arkan, one of the biggest Saudi developers.