During a private interview, the project’s numerous intricacies were deliberated upon by Karl Lagerfeld’s CEO, Pier Paolo Righi, and Taraf’s CEO, Ahmed Shibel.
Dubai-based real estate developer Taraf, in collaboration with luxury fashion house Karl Lagerfeld, has introduced a new collection of branded residences in the emirate. This venture signifies Karl Lagerfeld’s fourth foray into branded residential properties globally and marks its inaugural project in the Middle East, contributing to the Maison’s expanding real estate portfolio.
Situated in Dubai’s Meydan area, the real estate development is poised to become an “exclusive, branded community,” as stated by Karl Lagerfeld’s CEO, Pier Paolo Righi, during a media roundtable on Tuesday.
The Karl Lagerfeld X Taraf initiative will encompass 51 exclusive villas, meticulously designed to reflect the distinctive aesthetics of the fashion house while paying homage to the late German fashion icon.
Karl Lagerfeld X Taraf: Everything you need to know
The custom villas, tailored for high-net-worth individuals (HNWIs), offer two distinct façades – Soft Modern and Urban Modern. However, the pricing of these villas varies based on the number of bedrooms.
According to Ahmed Shibel, CEO of Taraf, the 5-bedroom villa starts at AED15 million, while the 6- and 7-bedroom options are priced at AED20 million and AED25 million, respectively, as reported to Arabian Business.
In response to inquiries about any unique features of the villas, Karl Lagerfeld’s Righi mentioned that it is challenging to highlight a specific individual feature.
“The focus of the project lies in the approach Karl Lagerfeld would have taken to establish his residence in Dubai. Undoubtedly, he would have emphasized incorporating significant elements, such as his extensive collection of books, which numbered over 300,000 in a dedicated library,” Righi stated.
In response to whether Lagerfeld’s renowned feline companion, Choupette, would be included in the design, Righi explained, “His pet held immense importance in his life, and I believe he would have envisioned a space where Choupette could feel at home and comfortable. However, there won’t be a direct literary reference to her; instead, the design may consider how the home could be experienced by his beloved cat.”
Premium materials, water features, and architectural designs will be incorporated into the project, drawing inspiration from Lagerfeld’s affection for the 18th century. The Dubai development also reflects the sophistication of the Maison’s Paris headquarters, featuring a runway that links the 51 villas and showcases stunning views of the Burj Khalifa.
Dubai ‘held a very special place’ in Lagerfeld’s heart
According to a recent report by Property Finder, Dubai is solidifying its position as the leading global city for luxury branded residential developments. The report highlights that more than 50% of new home projects in 2022 are standalone branded apartment buildings, a figure well above the global average. This trend underscores Dubai’s success in meeting the robust demand from investors and residents who seek high-end housing with renowned amenities, while avoiding the transient nature of hotel accommodations. The partnership between Righi and Shibel is timely, coinciding with the growing popularity of Dubai branded residences in the emirate, as noted in the recent Arabian Business report on Tuesday.
“We are launching this project now primarily because we have identified the ideal partner for this venture. Furthermore, we believe that the branded residences market, particularly for villas, is thriving in Dubai, with demand surpassing the available supply. Dubai has consistently proven to be a lucrative market for luxury residential properties, thanks to its strong performance. Shibel emphasized that the timing is right due to these factors.
Righi also concluded by expressing that Lagerfeld had a deep affection for Dubai, considering it a special place in his heart.
The completion date for Karl Lagerfeld X Taraf is set for Q2 2027.”
