Versace, the bling fashion brand, is putting its name to a luxury property venture that is heading towards London, aimed at the global super-rich.
It is a characteristically ostentatious affair: opulent homes, designed and furnished by Versace down to the last detail, from cushions to crockery.
The first project is Palazzo Versace Dubai — 129 residences attached to a glitzy hotel resort and marina.
Prices start at £1.85 million for a two-bedroom apartment and rise to £12 million for a 9,626 sq ft penthouse with mosaic-lined swimming pool, private cinema and library. Furniture alone in each flat is worth at least £200,000.
Sunland Group, the Australian developer, describes the initiative as “couture condo-living”. Cynics might be tempted to call it “top-end timeshare”, as owners will be able to enter into a leaseback agreement with the hotel operator and get an income from renting their property.
Harrods has been enlisted as part of the international marketing campaign, and a showroom has been set up in the Knightsbridge store.
London is one of 15 locations where Palazzo Versace developments are planned.