Student housing and elder care living models may significantly influence the GCC’s real estate environment in the coming years, as noted by Cavendish Maxwell, a real estate advisory company.
Evolving housing preferences
Cavendish Maxwell identifies various development types, including serviced apartments, co-living spaces, private clubs, and shared ownership schemes, as key growth areas for property developers and investors. They also observe that the boundaries between residential, hospitality, workplace, and social environments are increasingly blurred.
Branded residences will continue to hold significance in the regional market, though the firm anticipates additional living concepts will emerge alongside them.
Zacky Sajjad, Director of Business Development and Client Relations at Cavendish Maxwell, stated the GCC has historically been led by luxury and hospitality sectors. “For much of the past decade, the GCC’s residential and hospitality story has been dominated by luxury, with branded residences, five-star hotels and increasingly ambitious mixed use developments helping cities like Dubai, Abu Dhabi and Riyadh stake their claim on the global investment map,” he said.
He explained that the next decade is expected to witness a transition towards co-living across multiple models, underpinned by market drivers.
“Governments across the region aim to attract international talent, boost tourism, expand educational institutions, increase home ownership, and diversify economies. Concurrently, populations are growing and becoming more globally diverse, while resident expectations are evolving,” Sajjad explained.
He noted that more individuals are seeking beyond basic shelter. “Increasingly, people are not simply buying or renting four walls; they want convenience, flexibility, community, services and experiences,” Sajjad added.
This shift compels developers and investors to reassess their strategies. “It is no longer a question of whether to build residential or hospitality: it’s about understanding who will live there, how they want to live, what services they value and what they are prepared to pay for them,” Sajjad noted.
The firm argues that the GCC’s capacity to deliver high-quality real estate at scale provides an opportunity to apply this expertise to a broad spectrum of alternative living concepts.
Senior living and student accommodation
Cavendish Maxwell warns that established models from other countries cannot be directly transplanted into GCC cities. Local demographics, cultural norms, affordability, regulations, and family relationships will shape how co-living, student housing, or senior living projects are conceived and managed.
“Take senior living as an example,” Sajjad said. “With the rising cost of living, accommodation and care in countries such as the UK, the UAE is potentially an attractive alternative for internationally mobile retirees seeking a high quality of life, safety, connectivity, year-round sunshine and access to high-quality healthcare and hospitality led services.”
Co-living in Dubai
Cavendish Maxwell asserts that co-living demands heightened focus, especially in Dubai. While residential rents are easing after pandemic-driven surges, the company notes housing affordability remains a challenge for young professionals and newcomers to the city.
