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LUMENA by OMNIYAT Sets a New Benchmark with Business Bay’s Highest Sales Value and Complete Sell-Out
OMNIYAT, the leading developer in Dubai’s luxury real estate landscape, has announced that LUMENA by OMNIYAT is now fully sold out. Unveiled on June 18, 2025, the ultra-luxury commercial development, located on Sheikh Zayed Road in the Burj Khalifa district, completed the sale of its last available space within just two months of launch.
With this impressive sales success, OMNIYAT has established its leadership in the ultra-luxury commercial real estate sector, as this latest milestone follows the recent success of ENARA by OMNIYAT, which is also fully sold out following its launch in Q2 2025. With ENARA establishing a benchmark, LUMENA has elevated expectations even further, setting a new standard for commercial luxury in Dubai.
At its initial launch, LUMENA by OMNIYAT, the ultra-luxury commercial office tower achieved Business Bay’s highest total sales value at AED 3.4 billion, underscoring the robust demand for premium workspaces in Dubai as UHNWIs from across the world continue to relocate to the city for its prosperous, business-friendly economy and elevated lifestyle offering.
Sitting at the intersection of Business Bay and Downtown Dubai, LUMENA by OMNIYAT is a work of architectural mastery, boasting signature features such as the never-before-seen Sky Theatre, and unparalleled amenities catering to the needs and desires of UHNWIs. The 48-storey tower will set a new benchmark for workplace environments in the region upon its completion in Q4 2029.
Mahdi Amjad, Founder and Executive Chairman at OMNIYAT, said: “As Dubai emerges as a global hub for the world’s elite, the success of LUMENA validates our vision to offer breathtaking spaces that raise the bar for what our clients can expect from their working and living environments. This exceptional project reflects OMNIYAT’s ongoing commitment to shaping the commercial landmarks of tomorrow, with more milestones to come.
Unparallelled amenities, five-star service
As part of OMNIYAT’s portfolio of luxury residential, commercial and hospitality properties, superior service is built into the core experience. A full suite of service offerings includes a dedicated concierge, reception, meeting room management, spa and wellness coordination, lifestyle bookings, personal services, and bespoke experiences, such as event planning, luxury travel arrangements, and private shopping. These services are managed by OMNIYAT and draw from the brand’s experience in delivering high-touch hospitality across its award-winning commercial towers, residences and hotels, including ENARA by OMNIYAT, and The Opus by OMNIYAT.
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ANIME AND POP CULTURE ICONS TO DRIVE UAE TOY MARKET GROWTH IN 2026
From teens to seasoned collectors, the momentum built in 2025 continues to drive demand for anime and pop-culture collectibles across the UAE and global markets, positioning the toy sector for strong growth in 2026. Once seen as a childhood hobby, collectibles have evolved into a cultural phenomenon driven by social trends.
“A growing appreciation for storytelling, personal engagement, and fear of missing out on emerging trends has fuelled the rapid expansion of the collectibles market in the UAE,” said Hassan Tamimi, CEO of The Little Things.

Articulated and poseable figures have gained strong traction among collectors. “In 2025, brands such as SH Figuarts, Hot Toys, and ZD Toys recorded strong sales in the UAE, reflecting surging demand for figures that allow customization, scene recreation, and creative play,” noted Tamimi.
Commenting on exclusivity, which continues to be a key driver in the market, he said, “Limited-edition figures, blind-box formats and character-led merchandise emerged as key growth drivers, showcasing how collectibles are viewed as a statement rather than just children’s toys. Moreover, these collectibles are also finding appeal as distinctive gift items.”
“The shift is also evident among Gen Z, with the rising demand for plush keychains and trinkets from brands such as Sanrio, Pokémon, and Monchhichi, portable and personal accessories that double as an expression of individuality through playful, nostalgic, and customizable designs,” added Tamimi.
Brands like Funko continue to drive demand, with fans pre-ordering releases, lining up in stores, and attending events to secure their favorites.
Notably, among the pop-culture collectibles, LABUBU stood out as the most popular in the UAE and globally in 2025. Created by Hong Kong-born, Netherlands-raised illustrator Kasing Lung, the character gained significant popularity among the collectors. POP MART, known for its wide range of collectible figures, has also seen strong growth and fan engagement in the region. Other intellectual properties like CRYBABY, SKULLPANDA, HIRONO, and DIMOO have emerged as fan favorites in recent months.
“Nostalgia plays a significant role in today’s collectible market,” Tamimi said, “Many fans who grew up collecting toys and watching pop-culture classics now have adult purchasing power to buy the items they once wished to own, creating a market where nostalgia meets aspiration.”
Looking ahead to 2026 toy market in the UAE, Tamimi shared toy companies are expected to push creative boundaries further matching the evolving expectations of fans. “Collectible brands will likely explore more interactive, customizable and limited-edition releases in 2026,” he added.
Commenting on the growing pop-culture collectibles community in the UAE, Tamimi added that the UAE hosts several pop-culture and toy festivals throughout the year including the annual Middle East Film & Comic Con (MEFCC), which continues to fuel fan engagement and growth. Another key event happening in February this year ‘Animenia’- five days of anime, live music, and Japanese pop culture attracting fans and collectors’ enthusiasts from across the region.
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SOURCE OF FATE COMMENCES CONSTRUCTION ON MIRAGGIO, CONTRIBUTING TO AL MARJAN ISLAND’S DEVELOPMENT MOMENTUM
Source of Fate (SOF), the high-end luxury real estate developer under the Wheel of Fate Group, has commenced construction on Miraggio, its flagship luxury waterfront development on Al Marjan Island, marking a major milestone for the company and the Emirate’s fast-growing real estate sector.
The start of construction follows the successful completion of key design milestones, including Concept Design (CD) approval and the completion of Schematic and Preliminary Design (SD & PD). The project has already recorded sales exceeding 1 billion, with 50 per cent of units secured through off-plan bookings ahead of construction, underscoring robust buyer confidence and sustained demand for premium waterfront living in Ras Al Khaimah.
This higher demand is underpinned by Ras Al Khaimah’s strong real estate performance in 2025. According to recent market data, residential capital values recorded robust growth, with overall prices rising 14.9 per cent year-on-year. Apartments saw increases of 15.5 per cent year-on-year, while villa values grew by 13.8 per cent. Al Marjan Island has led this upward trajectory, with its capital values climbing 16.8 per cent year-on-year, reinforcing its position as one of the Emirate’s most sought-after waterfront residential destinations.
Commenting on the milestone, Dr. Majid Jack Hsiung, General Manager at Source of Fate, said: “Reaching 50 per cent off-plan bookings ahead of construction underscores a fundamental shift in buyer expectations. Homeowners and investors today are seeking more than premium finishes. They are seeking environments that support wellbeing, balance, and a meaningful connection with nature. Miraggio was conceived with this philosophy at its core, and as construction commences, our focus is to deliver that vision through uncompromising quality, disciplined timelines, and operational excellence at every stage.”
Reflecting its commitment to excellence, Source of Fate has appointed a consortium of world-class partners to deliver Miraggio to the highest levels of quality, safety, and performance. VX Studio leads as Project Consultant, bringing award-winning architectural expertise, while HQS Cost Management Consultant oversees cost planning and financial governance. NEXT Engineering Consultant, with more than three decades of experience, is responsible for ensuring sustainable, efficient, and technically robust construction practices.
Construction of Miraggio will adhere to UAE construction standards and international best practices, including the UAE Fire and Life Safety Code, Energy Efficiency Standards, Accessibility Code, Seismic Design Code, and Environmental Building Standards. Global benchmarks such as IBC, IFC, ASHRAE, NFPA, and ASTM will further guide the project, ensuring the highest levels of safety, sustainability, and innovation.
Sustainability is embedded throughout the development, with measures including solar-ready infrastructure, greywater irrigation, and a central water filtration system designed to reduce plastic use by up to 90 per cent, seamlessly integrating responsible living into everyday life.
The project is fully funded, with investments to date supporting key pre-construction and early works. Upcoming milestones include the completion of enabling works, commencement of main construction, and a structured timeline of progressive handovers.
Set to redefine luxury living in Ras Al Khaimah, Miraggio reflects Source of Fate’s vision of creating human-centric, environmentally responsible, and meticulously crafted communities, reinforcing Al Marjan Island’s status as one of the UAE’s most sought-after waterfront destinations.
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OBJECT 1 REVEALS AED 4.5 BILLION MULTI-PLOT LAND DEAL ON ABU DHABI’S AL REEM ISLAND
Abu Dhabi, UAE, 21 January 2026 — Object 1, an award-winning and rapidly growing real estate developer, has closed a major land investment in Abu Dhabi, marking a significant step forward in its expansion into the capital. The developer has acquired four waterfront plots on Al Reem Island, within the Shams Gate District, with a combined development area of over 2 million square feet and a total sales value of AED 4.5 billion.
The transaction marks a defining next step following Object 1’s expansion into Abu Dhabi in late 2025, which included the launch of its first Sales Gallery in the capital and its long-term growth plans for the emirate. Al Reem Island land acquisition reflects the company’s alignment with the government’s National Family Growth Agenda 2031. With 2026 designated as the Year of Family, the investment prioritises land positions suited to long-term residential communities, encouraging stability, community-led living, and environments that support families at different life stages.
Egor Maslennikov, Chairman and Founder of Object 1,said: “Our entry into Abu Dhabi was always intended as a long-term commitment, not a one-off expansion. Closing this investment on Al Reem Island reflects our confidence in the capital’s direction and our readiness to contribute meaningfully to its residential landscape. Abu Dhabi offers the right balance of stability, planning clarity, and community demand, which aligns closely with how we build.”
Abu Dhabi’s real estate market has entered a phase of accelerated growth, supported by rising buyer confidence and structural shifts in how the market is developing. Sales activity climbed sharply over the past year, with transactions increasing by 76% and total deal values more than doubling to AED 25.3 billion, reinforcing the capital’s appeal as a stable, high-growth destination for long-term residential investment.
Against this backdrop, the capital now stands as a core pillar of Object 1’s UAE strategy, building on the company’s momentum after delivering more than 2,600 homes and establishing a development pipeline exceeding 4.5 million square feet in Dubai. The Al Reem Island commitment positions the developer as an active participant in Abu Dhabi’s next phase of growth, translating its Dubai momentum into lasting impact in the capital.
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