Estilo Architects Reports 75% Year-over-Year Growth for H1 2023

(MENAFN- A Communications) Dubai, UAE, 7th November 2023 - Estilo Architects, a distinguished luxury architectural firm that has garnered a reputation for excellence across the Middle East, Europe, and Africa, proudly announces an outstanding 75% year-over-year (YoY) gross income growth for the first half of 2023.

Establishing its presence over the last decade, Estilo Architects has risen to prominence in the luxury architectural sphere. The brand is renowned for its exceptional residential portfolios and strategic collaborations with top international design companies and developers. Estilo provides a comprehensive solution spanning architecture, interior design, and construction. Notably, the company operates both as a developer and designer, boasting a storied legacy in prestigious locations such as Palm Jumeirah and Emirates Hills. The company’s expansion in 2023 has seen Estilo embrace new locations in Dubai including Dubai Hills and Jumeirah Bay, as well as internationally in Greece and The Democratic Republic of the Congo.

Estilo has managed to outperform its peers in the luxury space for two key reasons: talent and project value. It has been hiring only the region’s top architects and interior designers as well as restructuring to form a leaner and more effective business. The total number of projects has risen by 26% attributing the gross income figure to an average project value increase of 55% YoY.

In 2023, Estilo Architects celebrated its involvement in a record-breaking deal worth $30m (Dh110 million). Another unprecedented deal made by Estilo was a $2.75m (Dh10 million) rental for one year, setting a new standard for luxury rentals in Dubai. This achievement surpassed the Palm’s previous year''s rental record of $2.18 (Dh8 million), also set by Estilo. The firm is set to break its own record again in Q4 of this year with the design and build of a Palm property for $40m (Dh150 million), underscoring the brand’s continued success.

Dubai''s residential real estate market displays a range of growth prospects over the upcoming 12 to 24 months. Palm Jumeirah continues to stand as a dominant force, registering a remarkable 20% YoY growth in transaction volume, solidifying its position as Dubai''s most bustling residential hub. Jumeirah Bay, despite its higher pricing, has experienced substantial construction activities and an impressive 35% increase in high-value transactions in the past six months. Dubai Hills, recognised for its remarkable expansion and favourable pricing in comparison to ultra-luxury areas, has recorded a significant 25% YoY growth in transaction volume. Meanwhile, Emirates Hills, considered a highly sought-after locale, maintains its appeal among discerning buyers with consistent property price increases of approximately 8% YoY.

Estilo Architects is strategically positioned to capitalise on the opportunities presented by these burgeoning luxury real estate segments. With a focused approach on the Palm Jumeirah and Jumeirah Bay in the short and medium term, Estilo remains attentive to the potential of Dubai Hills and Emirates Hills, closely monitoring their market performance. The business also has further plans for international expansion across Europe and in Los Angeles.

Ezaht Al Doory, CEO at Estilo Architects commented: “Our unwavering commitment to excellence, sustainable practices, and dedication to evolving luxury trends have solidified Estilo Architects’ status as the preferred choice for discerning clients seeking the epitome of opulence in Dubai and beyond. With an exceptional portfolio of luxury homes, we continue to redefine luxury real estate.”

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