Abbas Sajwani has turned a $120m acquisition of Dubai’s ‘Big Ben’ tower into $600m in sales, with 95% of units sold before completion.
Abbas Sajwani has transformed one of Dubai’s most recognisable unfinished landmarks (Big Ben Tower) into a major commercial success, converting a $120 million acquisition into nearly $600 million in sales, according to a report by Bloomberg.
The 26-year-old entrepreneur, and son of Hussain Sajwani, acquired the 71-storey Al Yaqoub Tower from Commercial Bank of Dubai last year. The tower—long known locally as “Big Ben Tower” for its resemblance to London’s Elizabeth Tower—has since been rebranded as AHS Tower under Sajwani’s development firm, AHS Properties.
Bloomberg reports that 95 per cent of the tower’s units have already been sold, despite the building still being under development.
From Dormant Landmark to Prime Office Asset
Standing at 328 metres, the tower had remained vacant since 2013, following a prolonged financial dispute between its previous owners and Commercial Bank of Dubai. Sajwani’s acquisition marked a strategic bet on the sharp rebound in Dubai’s Grade A office market, particularly within the city’s financial district.
AHS Properties plans to complete the tower by Q4 2026, positioning it to capitalise on record demand for premium office space. According to Cushman & Wakefield, Grade A office occupancy in Dubai reached 95.5 per cent in Q3 2025, highlighting a severe supply-demand imbalance in the segment.
Premium Specifications and Amenities
Once completed, AHS Tower will feature:
- 69 floors of Grade A office space
- 17 express elevators
- Over 500 parking spaces
- Dedicated amenity levels including private spas and fitness facilities
The project reflects a broader shift toward high-quality, lifestyle-integrated office environments, as companies compete for talent and prioritize workplace experience.
AHS Properties Eyes Expansion Beyond Residential
Founded in 2021, AHS Properties has primarily focused on ultra-luxury residential developments. However, Sajwani told Bloomberg that the firm is now evaluating further expansion across asset classes.
The company is reportedly in discussions with financial institutions to raise approximately $300 million through a sukuk, with proceeds intended for land acquisition and future developments.
Why This Deal Matters
- Demonstrates strong investor confidence in Dubai’s prime office sector.
- Highlights the revival of long-stalled assets amid market maturity.
- Reflects Dubai’s transition toward institutional-grade commercial real estate.
- Signals growing appetite for Sharia-compliant financing in large-scale developments.
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