Skyscraper ‘Bling Burj’ in Dubai: Swiss luxury watchmaker builds world’s tallest residential tower

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What Geneva-based luxury watchmaker Jacob & Co. does in Dubai is neither new nor innovative. But just as the extravagance of the project fits the billionaire’s brand, the gems fit the finely crafted settings of watches that cost millions.

Jacob & Co. is building the world’s tallest residential tower together with real estate developer Binghatti from the United Arab Emirates. It will rise a hundred floors above the Dubai desert, in the immediate vicinity of the world’s tallest building, the Burj Khalifa. The plan is to create first-class apartments, second and third homes for sheikhs, oligarchs, and anyone who doesn’t know where to put their money.

You can’t just buy in “Bling-Burj” – you’re a candidate

The foundation stone for Burj Binghatti Jacob & Co Residences has already been laid and Dubai’s guest workers are at work. Sales of flats marketed as villas and waterside residences have also started.

Binghatti and Jacob & Co. the duo see this more as an application process. You can’t just buy things in the “Glitzer-Burj”. You become a candidate. And only then can you make an offer to buy. Of course, the partners hope candidates will get into real bidding battles for real estate trophies.

Strong brands provide better property prices

The account might work. So-called “branded residences” – namely residential properties associated with a luxury brand – are popping up, according to a report this week by British property service provider Savills. And get on average 50 percent higher prices than comparable luxury items. According to Savills, growth in this type of real estate is expected to exceed 100 percent by 2030.

This is surprising as so many brands have given their names to the corresponding real estate projects: Porsche at work, Missoni, Elie Saab, Pagani, Versace, Dolce & Gabbana, Aston Martin, Lamborghini. And just a few weeks ago, Bugatti announced that it would like to offer apartments in Dubai, along with Jacob partner Binghatti – sorry: Sky Mansions.

If the hotel industry, which has been working with luxury brands like Bulgari or Armani for years, will also be a role model for the real estate market, one thing is clear: business flights continue with “branded residences” in cities where the rich and beautiful like to linger, especially in London and Dubai.

The Brand of Billionaires

In any case, the watch brand Jacob & Co. will not suffer from real estate scam. On the contrary: The Geneva-based company, which has the most extravagant watches in Swiss watchmaking, is still open to development despite its rapid growth in recent years.

It’s been one of Switzerland’s top fifty watch companies since last year, according to estimates by Morgan Stanley and Luxeconsult, but still one of the smaller among the big. In any case, a turnover of 130 million francs is not really a house number, 2500 hours are not sold.

Unless there are watches like the Billionaire Timeless Treasure (pictured above), a $20 million jewelery and watchmaking masterpiece unveiled in Geneva this spring. Such unique pieces create a stir, but very rarely make the cases ring.

Brand ambassador Cristiano Ronaldo helps bring more timid models to people. Or wear a Jacob & Co. necklace around your neck like a choker at a recent Louis Vuitton fashion show. Appearance of singer Rihanna wearing it.

The father is the master of ceremonies, the son acts silently.

Promoting real estate, watches or celebrities: either way, company founder Jacob Arabo is in the limelight. He remains the face of the company, although he handed over the management of the company to his son Benjamin Arabov, who, unlike his father, who was assimilated in the USA, proudly carries the letter “v” in his Uzbek surname. At the watch show in Geneva, at the groundbreaking ceremony in Dubai, at client events: father is the master of ceremonies, son acts in secret. And his flamboyant style builds on a company that continues to be a problem for many.

Source :Blick