International Fashion House KARL LAGERFELD & UAE’s Taraf Announce Luxury Property Partnership in Dubai
Paris – 30 October 2023: International fashion house KARL LAGERFELD and UAE real estate company Taraf, have announced a partnership agreement to collaborate on a luxury branded villas project in Dubai.
The project, set to launch in the coming months, will be KARL LAGERFELD’S third branded residential property in the world and the first in the Middle East. In 2021, the fashion house launched luxury residences in Marbella, Spain and this year, it announced a hotel tower with branded residences in Malaysia.
Karl Lagerfeld, an iconic figure in the fashion industry, was the creative force behind fashion houses such as his eponymous brand KARL LAGERFELD, Chanel, and Fendi. Lagerfeld’s legacy is celebrated for his pioneering contributions to high fashion, innovative designs, and an unwavering passion for architecture and interior design that depicts his visionary expression. The villas will offer a glimpse into Karl Lagerfeld’s multihyphenate world, combining his limitless iconic vision with contemporary creativity to celebrate his DNA and highlight his moto: ‘Embrace the present and invent the future.’
KARL LAGERFELD CEO Pier Paolo Righi said: “As we embark on this visionary partnership with Taraf, we are not merely building villas; we are crafting unique lifestyle habitats. Together, with Taraf and the team at Karl Lagerfeld that worked with the designer on his architectural projects, we will bring Karl’s very unique idea of exclusive living to Dubai. By blending the artistry of design with the art of real estate, we look forward to offering an unparalleled experience.”
Low Ping, Group CEO, Yas Holding commented: “We’re proud to announce this partnership with a globally recognised brand that will not only add incomparable value to Taraf’s next residential property, but also elevate what Taraf stands for in this competitive sector in the UAE. Bringing an exclusive development to market together with KARL LAGERFELD underlines our commitment to delivering high quality offerings in the real estate sector. KARL LAGERFELD’s signature design will reflect uniqueness and sophistication to our project, through aesthetically distinctive and visually striking exclusive villas.”
Branded residences have recently seen an increase in demand across regions, driven by growth in the number of high net-worth individuals (HNWIs), according to a report by property consultant Jones Lang LaSalle.
Taraf recently completed the groundbreaking for its upcoming property Luce, an exquisite residential development located on Palm Jumeirah in Dubai, marking the start of the construction phase. Taraf plans on launching more properties in 2023, its debut year.
AveNew Real Estate, an enterprise within the RH portfolio, played an instrumental role in this partnership by introducing Karl Lagerfeld and Taraf for the purpose of joining forces.