Sunday, 15 June 2008

Celebrity Used To Promote Dubai Property Market

What have Tiger Woods, Boris Becker, Giorgio Armani, Greg Norman and Brad Pitt have in common besides being incredulously famous and rich? The answer is, they all support the property boom that is currently happening in Dubai.

Using these celebrities on a global scheme, marketing them in conjunction with new developments and ritzy hotels is supposed to drive more interest to this already wealthy city and emirate.

Brad Pitt is the latest to join the long list of celebs who have buddied up with Dubai developers in the past. He is set to design a five star resort for a new company in the industry called Zabeel Properties. The hotel will feature 800 rooms which will be built environmentally friendly. Mr. Pitt will work with Los Angeles based architecture firm Graft LLC.

CEO of Zabeel Properties, Robert Norton says: “Our master plan and design concept will be world-leading and we’re delighted to be collaborating with Brad Pitt and the team at GRAFT, which is recognised for its innovative building design. This project will display our uncompromising focus and commitment for developing high quality and environmentally-sustainable real estate in this region.”

The development will be built with a social conscience and eventually become host to award ceremonies and glamorous events. The hotel location is yet to be announced.

Dubai, the second largest emirate in the U.A.E. after Abu Dhabi expects some $50 billion dollars in real estate investments by 2010. Even though the market has been scandalised recently by some of the biggest players in property within the emirate.

The celebrity marketing strategy in Dubai seems to be working at the moment. Very recently, 70 golf villas attached to a Greg Norman designed and endorsed golf course with humble asking prices between $4m-$8m each, sold out within a week.

Former Grand Prix Formula 1 star Nikki Lauda will lend his face to be emblazoned across a new office tower planned by ACI Real Estate in Dubai. The tower will be one of three and cover 16,000 square feet of space.