It’s boom time for discount stores in the land of luxury

In a country known for its love of the lavish and luxurious, discount stores are making a surprising impact on the UAE’s retail sector, with a spike in consumer spending during the past few months.

As the region has been rocked by salary cuts and job losses as a result of the coronavirus pandemic, insights from credit card company Visa reveal that, in non-food categories, discount stores, home improvement stores and pharmacies are the three categories with the largest growth in sales since lockdown measures were introduced.

At the same time, higher ticket value categories, such as apparel, accessories, electronics and department stores, saw double-digit drops in spending, according to Visa’s data.

This change in consumer spending habits can be partially attributed to the economic slowdown brought on by Covid-19, the company said, adding that the trends have been echoed in Saudi Arabia and Pakistan.

“We are seeing that the

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Luxury Real Estate is on the Rise With 60% Improvement

In July 2020, Engel & Völkers announced that they saw a 60 percent increase in luxury real estate transactions over the same period last year, with homes selling for between 2 and 5 million euros (around $2.3M and $5.9M USD). “We are already seeing significant catch-up effects after the challenging first half of the year. Buyer activity is high in both national and international real estate markets,” said Sven Odia, CEO of Engel & Völkers AG.

 

So, what has caused this increase? Well, because of coronavirus impacts, many people are spending much more time at home, which has forced them to reevaluate their living spaces and what’s important. Properties with tons of outdoor space that might sit on the edges of popular cities are becoming a lot more attractive than inner-city dwellings. According to Engel & Völkers AG, the most important criteria for buyers now include a garden offering

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Sir, can I go and play in the mud kitchen? The fun-filled school with luxury flats attached

With luxurious modern bathrooms, spacious open-plan living rooms and panoramic views across the city, 333 Kingsland Road sounds like any other pricey block of high-end flats. Except that, where you might normally find sunloungers on a neatly landscaped terrace, this one has a “mud kitchen”. That’s because, rather than a private gym, cinema or other aspirational concept of the kind used to sell such developments, this London high-rise comes with the joyful chaos of a primary school attached to its base.

After five long months of no school, it is a nice surprise to hear the sound of (safely bubbled) playground games in full swing, and glimpse kids fooling around on the deck that hovers above the street. You might expect such a tower to have a swanky concierge at its base, but there instead you’ll find the school reception. Meanwhile, the roof of Hackney New Primary School is given

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As Home Sales Reach Highest Level Since 2006, Luxury Sales Boom

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The housing market continued to boom in August as existing home sales reached a pace not seen in more than a decade, fueled in part by demand from high-end buyers.

The seasonally adjusted annual rate of existing home sales reached 6 million for the first time since December 2006, the National Association of Realtors, or NAR, said Tuesday morning.

The housing market is demonstrating a “super V-shaped” recovery as home sale activity outperforms pre-pandemic levels, NAR chief economist
Lawrence Yun
said on a Tuesday call with reporters. Existing home sales rose 2.4% from July and 10.5% year-over-year, the trade group reported. Among single-family homes, those that sold for $1 million or more rose 44% compared with last year, more than any other price point.

“Right now, it is a booming market on the upper-end,” Yun said, citing a trend toward homes with more room that

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AND Studio creating sustainable homes with eco-friendly luxury interior design & renovation

09/13/2020, Malaysia, Johor Bahru // KISSPR //

September 14, 2020: All those who are under the misconception that luxury and sustainability don’t go hand in hand need to have a second thought. A leading Malaysian interior designer, Andreas Budiman, has debunked the myth like a boss with his innovative eco-friendly yet plush interior design and home renovation projects. The founder of Malaysia’s top interior design studio AND Studio, Mr. Budiman specializes in creating sustainable homes that can save on energy costs

A name of big repute across Malaysia and Singapore residential renovation scene, AND Studio is a full-service interior design and home renovation firm. The company offers specialized design consulting and home remodeling services and caters to all kinds of home renovation projects. Whether it’s a luxury makeover just for the kitchen or an overall makeover of an entire home, Mr. Budiman and his team are ready to work for

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