Accor to open 38 branded residences by 2024
The expansion places emphasis on India, Turkey, Africa and the Middle East regions, where more than 40% of new projects will be based
Accor is set to open one branded residential project every six weeks throughout 2023 and 2024 – further adding to its global portfolio of over 130 branded residential projects. The company said that it has been operating private residential communities for more than 20 years, managing a diverse collections of homes under premium, luxury and lifestyle brands.
The branded residences are operated on both a managed and franchised basis across 22 of the group’s brands, with a growing development emphasis on India, Turkey, Africa and the Middle East regions, where more than 40% of new projects will be based. These will augment the existing portfolio in terms of branding, market positioning and their core lifestyle proposition, Accor noted.
In March 2022, Abu Dhabi’s Aldar announced the launch of Louvre-branded residences.
The group is already responsible for some of the most luxurious branded residences in the region, including planned residences at the soon-to-open Raffles Jeddah in Saudi Arabia. The property will provide exclusive accommodation and easy access to the area’s most desirable shopping malls and main streets, as well as the historical centre of Jeddah, it stated.
In 2021, Accor and Ennismore entered into a joint venture to create what’s billed as the world’s largest lifestyle hospitality company, which includes clusters of branded residences within its eco-system. Accor and Ennismore are now expanding their branded residences reach with over 130 (either operating or pipelined) residential projects across no fewer than 33 countries, with more to follow, the group confirmed.
In August 2022, Select Group and Jumeirah Group partnered to launch new branded residential development in Business Bay.
“Ennismore branded residences represent approximately one quarter of Accor’s existing network and pipeline, with SLS, Mondrian and Hyde leading the charge, with eight operating and sixteen pipeline residences between them. Ennismore will open five residences projects in the region over the next three years. The first Mama Shelter Residences in the world will also open in Dubai in 2024,” explained Louis Abi Abboud, Vice President Development & Deputy Head of Middle East, Africa, India and Turkey for Ennismore.
In September 2022, DAMAC said it was adding an ultra-luxurious mansion development to its DAMAC Hills development.
