Barça set to build luxury residential complex in Dubai
Barcelona's latest venture outside football sees them planning a mini-city development in Dubai with club branding throughout, pending approval from club members.
Barcelona’s financial creativity continues as the club looks to expand its brand presence in the Middle East with a luxury residential development in Dubai.
Mini-city in the desert
Catalunya Radio reports that Barcelona have reached an agreement to construct a luxury residential complex in Dubai, complete with the club’s branding throughout. The development is described as a mini-city featuring:
- Residential buildings
- Community areas
- Swimming pools
- Additional services
The complex will be decked out with numerous symbols reflecting the Catalan institution’s presence, offering residents and visitors a Barça experience that extends well beyond the football pitch.
Show me the money
While the club’s reportedly already received a down payment for the project, it’s not quite a done deal yet. The agreement still needs to be ratified by Barcelona’s Assembly of Delegates before it can be officially announced.
This represents another long-term revenue play from the cash-strapped Catalans, who’ve been in a right two and eight financially in recent years. It follows a similar model to Chelsea’s property ventures, and mirrors how fashion and cosmetic brands have leveraged their names in property developments.
Laporta’s business drive
The club’s president Joan Laporta has been on a proper mission to find new market opportunities to improve Barça’s economic situation. This Dubai project is just the latest scheme to come to light in that ongoing effort.
Interestingly, Laporta was spotted in Dubai just recently, in late December, when he attended the Globe Soccer Gala. Perhaps he was sorting out the final details of this property deal while he was at it.
For a club that’s been forced to pull financial levers left and right, this move into luxury real estate represents yet another creative attempt to boost revenues outside traditional football operations.