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Arabian Business
15 hours ago
- Business
- Arabian Business
OMNIYAT redefines Dubai's commercial landscape with the launch of ultra-luxury project
Dubai's iconic and constantly evolving skyline gets a new addition. Known for its artistic and visionary projects, OMNIYAT, one of the leading developers in the country, unveiled its latest project, Lumena, at the Museum of the Future. With a Gross Development Value of AED 3.6 billion, Lumena is the latest in a series of high-end developments by OMNIYAT. 'Lumena is the future of commercial real estate in Dubai. With its location, design, and integrated amenities, we are creating a new paradigm for commercial real estate that aligns with how the next generation of leaders want to work and live,' said Mahdi Amjad, Founder and Executive Chairman at OMNIYAT. Located on Sheikh Zayed Road in the Burj Khalifa district, at the intersection of Business Bay and Downtown Dubai, Lumena aims to offer executive-grade office space that caters to what OMNIYAT describes as the next era of business leadership. 'Sheikh Zayed Road, particularly the Burj Khalifa District, is emerging as Dubai's new power corridor and Lumena is designed to lead that transformation,' said Amjad. 'With Lumena, OMNIYAT isn't just observing the shift—we're defining the next centre of gravity for business in the city'. Ultra-luxury offices with panoramic views The tower comprises 91 shell-and-core office units across three categories: 59 offices (three per floor plate), 30 half floor offices (two per floor plate), and 2 full-floor offices. With an internal office area of 582,184 sq. ft. Designed with flexible floorplates, high ceilings, and floor-to-ceiling glazing, the building emphasises openness and adaptability. The structure features a series of cantilevered elements designed to offer panoramic views of Dubai's landmarks, including the Burj Khalifa and Jumeirah Beach. The building also integrates biophilic elements, natural textures, and airflow mechanisms aimed at enhancing the interiors. Innovation and sustainability are at the core of Lumena's design. The project is targeting multiple world-class certifications, reflecting its commitment to sustainability, occupant well-being, and technological integration, including LEED Platinum certifications, Platinum WELL Building Standard™, Platinum WiredScore, and SmartScore. 'Leveraging technology, innovation, and future-proof design, LUMENA's sculpted form reflects both architectural brilliance and the effortless flow of ideas, ambition, and enterprise. This exceptional project reflects OMNIYAT's ongoing commitment to shaping the commercial landmarks of tomorrow,' said Amjad. Luxury is incomplete without the amenities that follow. It's not just architecture that sets Lumena apart. Its amenities rival five-star resorts: a Sky Pool suspended above the city, an Executive Wellness Suite for elite performance and recovery, private lounges, concierge-run meeting rooms, and a Sky Theatre poised to host high-level forums and product launches, all signal a future where work and well-being are inseparable. A curated retail podium will also include fine dining, wellness services, and retail outlets aimed at both building tenants and the surrounding Business Bay and Downtown Dubai communities. Amjad said the launch of Lumena follows a growing demand for high-specification workspaces. 'At OMNIYAT, we follow the signals of global capital and regional ambition. The success of Enara confirmed a clear appetite for workspace environments that match the elevated lifestyle of today's decision-makers. Lumena is our answer to that, a tower crafted for the next era of business leadership'. As per Amjad, these developments are aimed at a clientele that includes senior executives, family offices, and innovation-driven enterprises. 'Clients that value discretion, design, and digital readiness. These are C-suite visionaries, family offices, and innovation-driven enterprises. At AED 3.6 billion GDV, Lumena meets a demand that's not defined by budget, but by belief in quality and long-term value'. OMNIYAT's latest landmark in Dubai The tower's location near Business Bay Metro Station and its proximity to Dubai International Airport (13 minutes by car) are key selling points. With direct vehicular access and over 1,000 parking spaces, the development is positioned for connectivity. 'Connectivity is one of the project's strongest USPs: we're at the nexus of Business Bay and Downtown, directly linked to the metro, minutes from the airport, and surrounded by Dubai's most strategic commercial, retail, and lifestyle destinations,' said Amjad. As Dubai continues to attract global investors, high-net-worth individuals, and multinational corporations, demand for premium office space with integrated amenities is increasing. OMNIYAT's recent developments, including The Opus and Enara, have tapped into this trend by offering commercial real estate that combines architectural design with lifestyle features. Lumena appears to be an extension of this strategy, emphasising design, wellness, and service. 'Lumena is more than a building, it's a vision sculpted in light, wellness, and future-proofed ambition,' said Amjad. 'It reflects the values that define OMNIYAT: precision, purpose, and pushing the boundaries of what's possible. As with every masterpiece we deliver, we're not here to follow trends, we're here to set new standards'. Lumena's architectural model is available for public viewing at Studio 12 at The Opus by OMNIYAT from June 19–22. Brand View allows our business partners to share content with Arabian Business readers. The content is supplied by Arabian Business Brand View Partners.
Khaleej Times
17 hours ago
- Business
- Khaleej Times
‘Gateway to Business Bay': Dubai's new landmark to have open-air sky theatre
Dubai is set to welcome a striking new landmark — the 'Gateway to Business Bay' — featuring an open-air Sky Theatre, a first-of-its-kind entertainment and event space located at the top of a commercial tower. With a gross development value of Dh3.6 billion, the 48-storey Lumena Tower by Omniyat is a flagship commercial development strategically positioned on Sheikh Zayed Road, at the intersection of Business Bay and Downtown Dubai. Scheduled for completion in the fourth quarter of 2029, the Lumena Tower will introduce 650,000 square feet of Grade A leasable office space to the city. 'We acquired this significant plot earlier this year and envisioned it as a gateway,' said Mahdi Amjad, founder and executive chairman of Omniyat. 'We remained true to that vision and designed a tower that represents a world-class business environment.' One of the tower's most distinctive features is the Sky Theatre — a unique amenity for a commercial building in Dubai. This open-air venue will serve as a dynamic space for events and entertainment, enhancing the tower's appeal. The building will offer 91 shell-and-core office units, all designed with full fit-out flexibility, allowing buyers and tenants to customize their office layouts to suit their needs. 'It has several key features that will redefine commercial office space in Dubai,' Mahdi explained. 'We are designing for the future — thinking about how offices will function in an era shaped by artificial intelligence, abundance, and rapid evolution. Our goal is to create work environments that truly empower their users.' Lumena Tower is the latest addition to Omniyat's commercial portfolio. Mahdi emphasised the importance of high-quality office infrastructure to support Dubai's continued growth. 'The city is expanding rapidly and attracting a wave of new residents and businesses. A high-quality office environment is essential for fostering trade and business activity,' he said. 'There's a clear shortage of premium commercial space, and through developments like Lumena, we aim to help bridge that gap and better balance supply and demand in the market.'
Entrepreneur
2 days ago
- Business
- Entrepreneur
Paradigm: Meet Alex Zagrebelny, the Developer Who Wants your Home to Heal you
Discover how Alex Zagrebelny is redefining luxury living with Eywa on Paradigm, our podcast exploring visionary ideas shaping the future Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media. Alex Zagrebelny isn't your typical real estate developer. As the founder and sole proprietor of R·Evolution Group, his approach to architecture leans less on square footage and more on philosophy—well-being, sustainability, and a deep-rooted connection to nature. His latest project in Dubai, Eywa – The Tree of Life, is a bold experiment in what residential spaces can be when we stop designing for status and start designing for the human experience. Located in the heart of Business Bay, Eywa rises along the widened curve of the Dubai Water Canal, offering unobstructed views of Downtown and the Burj Khalifa. But it's not the skyline that defines this building—it's what's happening inside. Eywa trades in traditional luxury cues—like marble lobbies and valet service—for something more elemental. There are crystal gardens and structured water systems, cascading terrace waterfalls, and interiors layered with natural stone, greenery, and sunlight. Each unit is its own sanctuary: floor-to-ceiling windows invite daylight to sculpt the spaces, while air purification systems, non-toxic materials, and biophilic design elements aim to foster physical and emotional health. "We're not just building homes," Zagrebelny tells Entrepreneur Middle East. "We're trying to build a new way of living." And it's not just theory. The building incorporates MERV14 air filtration and natural ventilation—features more commonly found in wellness clinics than condos. Even the drinking water is treated and "structured" using methods derived from alternative science, while the pools are pH-balanced to enhance bodily restoration. For all its introspective design, Eywa isn't tucked away in nature. In fact, it's minutes from the city's most dynamic districts—Downtown, the Dubai Mall, and the Opera District. The juxtaposition is intentional: a reminder that tranquility doesn't have to come at the cost of convenience. Eywa may not appeal to everyone. But for a growing segment of affluent buyers who are turning away from excess and toward intentionality, it taps into something deeper than opulence. It taps into how we want to live—now and in the future. Check out our latest episode of Paradigm on our YouTube and Spotify channels!
Zawya
3 days ago
- Business
- Zawya
Dubai's Deyaar eyes $545mln in sales from Downtown Residences project
Dubai-listed Deyaar Development is targeting sales of almost 2 billion UAE dirhams ($544.59 million) from its flagship Downtown Residences project in Business Bay, according to CEO Saeed Mohammed Al Qatami. The 110-storey-plus residential tower is expected to break ground in the fourth quarter of 2025, he told CNBC Arabia. The company's development portfolio stands at AED 1.1 billion, which is sufficient for the next two years, Al Qatami said. Deyaar will deliver five projects this year starting July, CNBC Arabia reported. The company has liquidity of nearly AED 1.8 billion and banking facilities of approximately AED 900 million, it said. Last week, Deyaar had announced in a press statement that the 445-metre tall residential twin tower is scheduled for completion in the fourth quarter of 2030. (Writing by P Deol; Editing by Anoop Menon) (
Zawya
3 days ago
- Business
- Zawya
Dubai's office market sets new records, with AED2.8bln worth of sales across 933 transactions
Off-plan transaction values surge 741% as rising rents prompt both investors and tenants to buy Business Bay and Jumeirah Lakes Towers top areas for sales Dubai – Dubai's office real estate market has set new records for sales values and volumes, with investors spending AED2.8 billion across 933 transactions in Q1 2025, according to new insight from leading real estate advisory and property consultant, Cavendish Maxwell. Office sales values from January to March this year were 83% higher compared to the same period in 2024, while transaction volumes were up almost 24%, the Dubai-based company said. Cavendish Maxwell's latest Dubai Office Market Performance report also shows that while ready offices still dominate the sales market, off-plan transaction values rose a staggering 741% - nearly 8-fold - to reach a new high of AED800 million in Q1, against AED100 million a year ago. Ready office transactions increased by nearly 40% year-on-year. Of the 900+ total transactions, 18% were for off-plan premises, up from 8% in Q1 2024. Vidhi Shah, Director, Head of Commercial Valuation at Cavendish Maxwell, said: 'These record-breaking figures speak for themselves. Dubai continues to enhance its position as a global business hub and a magnet for businesses large and small. The momentum is real: Q1 2025 saw nearly 40% more foreign company registrations - including multinationals and SMEs - compared to the same time last year, reflecting ever-growing investor confidence and creating unprecedented demand for office space. 'The surge in off-plan deals can be attributed to buyer trust in upcoming developments, competitive launch prices, flexible payment plans and expectations of long-term capital appreciation. With limited existing supply and rising rental costs, a growing number of tenants are opting to buy as a strategic, long-term cost-saving measure. Ready offices still account for the majority of sales, but it is clear that off-plan properties are very much in demand, and we expect this trend to continue throughout 2025 and beyond.' Price trends Sales prices continue to rise: Q1 2025 saw a jump of almost a quarter (24.5%) year-on-year and increase of 6.5% quarter-on-quarter. As of March, average sales prices stood at AED1,650 per square foot, compared to AED1,325 psf in March last year. Rental rates increased by similar amounts: 24% year-on-year and 6.7% compared to Q4 2024, with average office rates reaching AED160 psf. Hikes were seen across all quality tiers of offices, with limited supply of A-grade space driving increases in B and C space. Downtown Dubai saw the biggest year-on-year growth, up almost 40%. Next were DIFC (39%) and Barsha Heights (38%). Top areas for transaction volume Business Bay commanded the number one spot for office sales (ready and off-plan combined) in Q1, with 316 transactions. In second place was Jumeirah Lakes Towers (222), followed by Motor City (130), Barsha Heights (88) and Dubai Silicon Oasis (41). Size matters Almost half (48%) of sales transactions in Q1 were for offices between 1,000 and 2,000 sq ft in size. Premises measuring less than 1,000 sq ft accounted for 40% of sales, while spaces from 2,001-5,000 sq ft accounted for 10%. The remaining 2% were for areas covering over 5,000 sq ft. Existing and upcoming supply As of Q1 this year, Dubai's total office inventory reached nearly 9.3 million square metres of gross leasable area (GLA). Another 215,000 sq m is expected to come to the market between now and the end of the year, followed by a further 181,000 sq m in 2026. Vidhi Shah added: 'Much of the new supply is concentrated in core business districts, with a significant proportion in the A-grade category. With a strong development pipeline over the next three years, we expect the current supply-demand imbalance to narrow, bringing some relief to tenants and easing upward pressure on prices.' Download the full Cavendish Maxwell Dubai Office Market Performance report here. For media enquiries, please contact: Rebecca Rees at rebecca@ A bout Cavendish Maxwell Cavendish Maxwell is one of the Middle East's leading real estate advisory groups and property consultants, with offices in Dubai, Abu Dhabi, Sharjah, Ajman, Ras Al Khaimah, Kuwait City, Muscat and Riyadh. The company is a member of the Royal Institution of Chartered Surveyors (RICS) and offers a full range of property-related services, including valuation, strategic advisory, research, project and building consultancy and investment and commercial agency expertise. With a team of experienced professionals and a commitment to delivering exceptional service, Cavendish Maxwell has established itself as a trusted advisor in the regional real estate market.
