Fashion ventures into luxury real estate in Saudi Arabia with Elie Saab

Lebanese fashion designer Elie Saab, well-known for his haute couture, is venturing into luxury real estate with several grand projects around the world, targeting an upscale clientele. Having already established his presence in London in collaboration with Gulf Islamic Investments (GII) to develop luxury residences in the upscale Hyde Park area, Saab is now turning his attention to Saudi Arabia. The new project is called Etoile by Elie Saab and is located in the bustling tourist city of Riyadh. The homes are expected to be delivered by 2024, and their design will be inspired by traditional Saudi Arabian architecture with a modern twist. The real estate units, consisting of three or four bedrooms, will be elegantly decorated. These luxurious residences will be situated in the new district of Sedra, spanning twenty million square meters to the north of Riyadh. This neighborhood, symbolizing the city's rapid development, is poised to become the exclusive new destination for the city's elite.

Saab's move aligns with Saudi Arabia's 'Vision 2030' plan, initiated by Prince Mohammed bin Salman, which places a strong focus on the country's tourism sector with the goal of attracting one hundred million visitors annually by 2030. The three-bedroom villas, ranging from 245 to 300 square meters, will start at €645,000, while the four-bedroom ones, spanning from 305 to 480 square meters, will begin at €775,000.

Elie Saab isn't the only fashion designer delving into luxury real estate. Other prestigious brands are also now seeking financial diversification by embarking on major real estate projects in highly sought-after locations. For instance, the Italian fashion house Fendi has partnered with the Spanish developer Sierra Blanca Estates to create a new residential complex on the Costa del Sol called Epic Marbella. The project, set on a 48,000 square meter plot, includes the construction of 56 large apartments designed by Fendi Casa. Dolce & Gabbana is also following this path, with projects in Miami, Marbella, Milan, and the Maldives, each bearing the signature of the Italian brand.