Assignment Essay Example | Topics and Well Written Essays - 1750 words - 1

Assignment - Essay Example The city has attracted an increasingly multi-cultural and highly skilled labor force. Due to the increase in population over the last few decades, the popularity of the need of property in Dubai has also increased. The need for property has further propelled the desire to have a luxurious life and due to the fondness of people of Dubai towards luxury, people are offered a wide rage of properties to choose from with unparalleled features implemented in each of them (Life in Dubai). Even though, the present situation of luxury housing is not topnotch, it is still feasible to start a new luxury housing business because of the dynamic nature of the economy and the demand for houses (Life in Dubai) allow customers to indulge in complete luxury. Thus, the basic idea of the business is to capture the market of domestic and foreign inhabitants who are interested in raising their standards of living and want to lead a luxurious life. Topic Sentence The business process that will be analyzed i n the present paper is the luxury housing. The luxury housing will be named â€Å"Serene Living†. The market of luxury housing will be identified along with determining its current competitors and defining its strategic competitive advantage as well as identifying steps involved in the value chain that will be the key to the success of business. The paper will further identify the problems involved in the successful implementation of and the ways to overcome those problems. The analysis will be based on the Porter’s Five Force Model. 2. Identification of Market for Luxury Housing Business in Dubai Due to the increase in population and the desire to lead luxurious lives, the need for luxury housing is increasing day by day. Although they are priced at a higher rate than other houses, either rental or purchased, they are becoming capable of attracting customer because it offers unparallel facilities and complete luxury (Luxury Homes in Dubai). For instance, Al Mahra is a n Arabic style Villa, which is basically a golf home and has been established on the theme of the desert. While, the Palm Jumeirah Signature Villa situated on the Palm Island in Dubai, spoils one with complete luxury. Similarly, studios and apartments that feature a mixture of architectural styles of different countries are being developed in Dubai and known as International City (Luxury Homes in Dubai). Target Market A number of foreigners reside in Dubai and because of the increase in their number in recent time in Dubai, the Government allowed property ownership rights  to the non-United Arab Emirates Nationals in 2002. With the elimination of this restriction, the city has seen a number of magnificent ventures, among which were luxury homes in Dubai (Luxury Homes in Dubai). Thus, the target market for the luxury housing is both the domestic and foreign inhabitants who are the kind of people who take pleasure in living in a place that has a green and serene atmosphere and where there is a strong feeling of togetherness, which indicates that they are pleased to meet new people but also respect other people's privacy. Identification of Competitors The competitors of Serene Living would be all the luxury housing providers in Dubai who provide their clients with houses that combines residential area, commercial, hotel, entertainment, shopping and recreation with open green spaces.  Serene Living will basically face competition from luxury housing facilities