Why HNWs can’t resist the Four Seasons factor

In the current climate of global uncertainty, there are plenty of reasons to make buyers think twice before they invest. Rising living and energy costs are high in everyone’s minds. Currencies are seeing unprecedented peaks and troughs – an opportunity for some and deal-breaker for others. And the forecasts for London’s prime market is 2023 are muted, with leading agents in the luxury sector expecting 2-3% price drops.

But amid it all, the branded residences sector continues to thrive globally. There are currently 640 branded schemes around the world with 100,00 units between them, managed and serviced by big name luxury hotel or other brands. And that number is set to double by 2027, according to Savills Research.

The US has historically dominated the field – as we talk about here. But the Middle East is the region to watch now, having seen an 86% increase in branded schemes in the last five years. And the Four Seasons Residences at Bahrain Bay, where Rive Gauche have partnered with the luxury hotel brand that now dominates the sector, and with Bahrain-based Bayside Developments, typifies the kind of new upscale product for brand-loyal buyers.

So what drives high-net-worth buyers to a development such as Four Seasons Bahrain Bay? Firstly, there’s the resonance that the brand has with the buyer. They share its values and instinctively feel among like-minded people when they enter one of its hotels. They like the sense of familiarity and also the reassurance that the brand will deliver the highest quality, whether it’s the comfiest beds, best tech or the tastiest poolside cocktails. The brand also brings them peace of mind that they can lock up and leave whenever they want – then find a home that’s ready and waiting on their return.  

Since the pandemic, the lines have blurred between primary residences and holiday homes. Now all need to be beautifully designed and to function similarly and seamlessly. High-net-worth owners want a worry-free investment that comes with the guarantee of quality that a global luxury brand brings, five-star amenities and the reassurance that if anything breaks, someone will fix it immediately.

Health and wellness are also key components of the branded residence package – but, increasingly, with a degree of personalisation. So it’s not simply about having access to a beautiful spa and pool, but a personalised experience such as tailored fitness sessions or personalised nutrition programmes.

And then there’s the investment angle. Branded residences sell for a sizeable premium (in emerging markets, that’s up to 54% compared to similar non-branded properties, according to Savills). Buyers vary widely in age and lifestyle circumstances, from young entrepreneurs to high-flying families to wealthy downsizers, but in all cases their investment is a vote of confidence in the reputation and longevity of a brand. The branded lifestyle brings security, peace of mind, convenience and community. And when they sell, it comes with the built-in value of a global name with a successful track record. And as many buyers are feeling now, in a time of uncertainty, that sense of security is hard to put a price on right now.

The success of a resort such as the Four Seasons Residences in Bahrain Bay relies on the interplay between the brand, developers, architects and designers to create the optimum experience for owners. And as James Price, Vice President Residential at Four Seasons Hotels & Resorts in the EMEA region, comments: “The experience begins at the design phase.”

With the 112 waterfront residences that form an extension to the landmark 200-metre-tall Four Seasons hotel in the Bahrain capital of Manama, our challenge was how to combine our expertise in designing super-prime residences that function like a five-star hotel with the essence and reputation of the world-famous brand that will service these homes.

For Four Seasons, the vital element is functionality. These residences – which will mostly be holiday homes for Saudi buyers – need to have a seamless connection with the hotel’s services. The brand is why buyers have chosen to invest in this scheme, and they will come with high expectations of what it should deliver.

For Rive Gauche, it’s about incorporating that first-class functionality with exquisite design. These are resort homes that can afford to be something extra-special. Buyers will most likely be relatively young, well-travelled and well-versed in global design trends, so while they will appreciate the subtle use of design motifs found in classic Bahrain architecture, they want modern villas that offer a different experience to their main home elsewhere.

They will instinctively enjoy the sense of scale that comes from the extra-tall front doors that lead into cathedral-like entrance halls – a feature of the region’s palatial houses – but they will be drawn to features that aren’t so typical in the Middle East such as open-plan kitchens and large, neutral-coloured spaces that reflect the sandy landscape and milky sky and let in the vibrant colours of the gardens and sea outside.

The design of the residences contrasts with that of the hotel, and each residence is distinct from the next. But the thread that unites them all is the Four Seasons brand, and with this project, the exchange of ideas between the brand, developer and designers will hopefully result in the optimum experience for owners.