Dubai’s tallest commercial tower honors’ two decades of architectural innovation

OMNIYAT, Dubai’s visionary ultra-luxury developer, has officially launched LUMENA ALTA, a 380-metre landmark redefining the city’s skyline. Upon completion in 2030, it will become Business Bay’s tallest commercial tower.

The launch also celebrates OMNIYAT’s 20th anniversary, symbolizing two decades of design, craftsmanship, and creativity. Moreover, with a Gross Development Value above AED 5 billion, LUMENA ALTA continues the success of LUMENA and ENARA, reaffirming OMNIYAT’s position as a leader in luxury real estate.

A Vision Elevated

From its name, LUMENA ALTA captures light and ambition. “Lumena,” derived from the Latin lumen, evokes brilliance and creativity, while “Alta,” meaning elevated, conveys height and aspiration. Together, they express OMNIYAT’s guiding principle – The Art of Elevation.

Furthermore, the tower’s spiraling glass façade reflects sunlight by day and glows softly by night. Its fluid design embodies motion and progress, mirroring Dubai’s rise as a global capital of innovation.

Workspaces That Inspire

Designed for global visionaries, LUMENA ALTA blends performance, wellbeing, and prestige in one vertical destination. Triple-height sky lobbies, panoramic terraces, and bright atria bring openness and balance to every floor. In addition, landscaped sky gardens and private terraces connect work with nature, creating calm within energy.

Strategically located on Sheikh Zayed Road, the tower provides direct access to Downtown Dubai, DIFC, and the future Dubai Metro Gold Line. Together with its twin, LUMENA, it forms a luminous gateway to Business Bay – a landmark of connectivity, commerce, and culture.

A World Above Expectation

Crowning the structure, a five-star lifestyle hotel merges hospitality with architectural artistry. Its Sky Pool, suspended 335 metres above the city, will be the world’s highest infinity pool.

At the summit, the Sky Restaurant will deliver panoramic 360° views of Dubai’s skyline and coastline. Each evening will blend gastronomy, design, and spectacle – a sensory experience above the clouds.

Moreover, wellbeing defines the tower’s rhythm. Private fitness suites, hydrotherapy zones, vitality pools, and spa sanctuaries offer renewal throughout the day. A 25-metre indoor lap pool completes a lifestyle that balances achievement and serenity.

Service Beyond Space

As with all OMNIYAT masterpieces, LUMENA ALTA offers service that matches its design. A dedicated concierge team manages reception, meetings, and lifestyle coordination. Furthermore, residents and guests can access tailored experiences – from wellness scheduling and luxury travel to event planning and personal shopping.

Drawing inspiration from The Opus, One at Palm Jumeirah, and The Lana, OMNIYAT turns architecture into living art, ensuring every interaction feels seamless and refined.

Smart, Sustainable and Future-Ready

LUMENA ALTA is engineered to achieve LEED Platinum, Platinum WELL, Platinum WiredScore, and SmartScore Certifications. These standards emphasise sustainability, technology, and human wellbeing. Consequently, the tower establishes a new benchmark for intelligent, future-focused commercial spaces.

A Legacy of Ambition and Artistry

Reflecting on the milestone, Mahdi Amjad, Founder and Executive Chairman of OMNIYAT, said:

“Dubai attracts global enterprises that value excellence and creativity. As demand for premium space grows, OMNIYAT will keep reshaping the skyline with bold, intelligent designs that inspire progress.”

Over the past two decades, OMNIYAT has evolved from a developer into a curator of architectural art. With LUMENA ALTA, the company begins a new chapter – one where art, architecture, and ambition converge to define Dubai’s next horizon.

check this out Sobha Realty Sells 50% Downtown UAQ Within First Week

Attributed by Olga Pankina, Chief Operating Officer, Whitewill Dubai

Dubai’s real estate market crossed AED 522.5 billion ($143 billion) in transactions during 2024, a 27% jump on the previous year, according to the Dubai Land Department. This surge highlights not just rising volumes but growing complexity. Knight Frank reports that more than 40% of ultra-high-net-worth individuals in the GCC now view real estate as a key component of diversified wealth portfolios rather than simply lifestyle purchases. In response, brokers are evolving from dealmakers into strategic advisors who help clients structure long-term wealth strategies.

How brokers are adapting

Market complexitySavills data shows Dubai launched more than 70 projects in 2024, ranging from branded residences to creative payment schemes and mixed-use formats. Brokers are responding by building specialist teams that analyse developer track records, payment plan risks, and brand value premiums. They are no longer just introducing projects—they are running scenario models on potential delays, interest rate movements, and projected resale values to advise clients which launches fit their investment strategy.

Global benchmarkingWith Dubai’s rental yields averaging 6.8–7.5%, far stronger than the 3–4% seen in London or Paris, brokers are positioning themselves as comparative analysts. They present clients with side-by-side yield scenarios, factoring in currency exposure and financing costs across markets, so investors can decide whether Dubai should serve as a core yield play or be complemented with international assets for balance.

Policy and regulatory shiftsBy the end of 2024, the UAE had issued more than 158,000 Golden Visas, creating new investment dynamics. Brokers now advise clients on selecting properties that can qualify for residency, structuring ownership to maximise visa eligibility, and aligning investments with long-term family relocation plans. As new sectors like gaming expand in Ras Al Khaimah—anchored by Wynn Resorts’ 2025 opening—brokers are also flagging secondary growth corridors to investors, integrating policy insights into their advisory.

Trusted advisor model

Deloitte’s surveys show that 72% of GCC investors now expect brokers to advise on taxation, ownership structures, and exit strategies. Leading firms have broadened their offerings to include full lifecycle support: arranging financing, overseeing management and leasing, and planning exit timing. Some brokerages integrate concierge services, legal counsel, banking contacts, family office networks, so clients interact with a single advisor orchestrating the entire ecosystem.

Regional broker strategies

Dubai and Abu DhabiThe Dubai Land Department notes that 36% of all transactions in 2024 were for ready properties, signalling investor preference for immediate income-producing assets. Brokers are shifting accordingly, building ready-asset portfolios and negotiating rental agreements and management contracts alongside the sale. In Abu Dhabi, they are emphasising projects with infrastructure certainty, guiding clients toward assets that can deliver both lifestyle and reliable returns.

Saudi ArabiaVision 2030 has placed over a trillion dollars’ worth of projects into the pipeline, but execution quality varies. Brokers are acting as filters, vetting projects based on developer capability, financing security, and infrastructure backing before presenting them to clients. They frequently run due diligence with engineering consultants and local legal teams to protect investors from speculative risks while highlighting projects aligned with government priorities.

OmanCBRE recorded 8–10% price growth in Muscat and Muttrah in 2024, spurred by early foreign demand. Brokers here are counselling clients against pure speculation, instead positioning Omani assets as long-term diversification plays. They provide guidance on ownership regulations, residency eligibility, and exit options, ensuring foreign investors understand the timelines and obligations before entering the market.

Skills for modern brokers

Financial fluency is becoming a baseline skill. Brokers are expected to present internal rates of return, cash-flow projections, and exit models. In premium Dubai projects, IRRs of 12–14% are achievable under active management, but only if brokers can demonstrate scenarios clearly.

Additionally, JLL forecasts that by 2026, over half of MENA property transactions will rely on AI-driven dashboards. Many brokers are already using predictive analytics to assess submarket vacancies and rental trends. With more than 35% of Dubai’s buyers coming from abroad, cross-border fluency—tax treaties, cultural norms, legal frameworks—has become part of the broker’s toolkit. None of this is possible without network capital: relationships with developers, bankers, and regulators that give brokers the leverage to deliver better outcomes for clients.

Market insight

Knight Frank highlights a shift among GCC investors from single-unit acquisitions to multi-asset strategies. Brokers are helping clients pair prestige villas for lifestyle and residency benefits with mid-market rental units generating 6–9% yields. Others are designing “exit packages,” advising on resale timing, tenanting strategies, or even property repurposing if liquidity dries up, so portfolios remain resilient.

Forward outlook

PwC estimates that $2.5 trillion in UHNW capital will move across borders by 2030, and brokers will be positioned as the private bankers of real estate. Some firms are already experimenting with hybrid compensation models, retainers plus performance fees, to reflect this shift from transaction to long-term wealth management.

As yields in Dubai stabilise around 5–7% by 2026–27, investors will value strategy over opportunism. The brokers who thrive will be those who build trust as advisors, helping clients protect, grow, and align property with broader wealth ambitions. The industry is moving decisively away from transactions. Strategy is the new currency.

Object 1, the award-winning developer shaping the UAE’s real estate landscape with design-led projects, has signed an official global partnership with the Nottingham Forest Football Club, marking the start of an exciting collaboration that brings together world-class football and Dubai’s rapidly growing real estate sector. Running throughout the 2025–26 season, the partnership positions Object 1 on the international stage while highlighting its local achievements in Dubai, creating opportunities to engage ardent football fans across the UAE and the Gulf region.

The two join forces during an exciting period for both organisations, with Forest currently competing in the Europa League for the first time in 30 years, and Object 1 winning multiple awards and seeing record growth into one of the top ten developers in Dubai. With the shared commitment of building a future together, Object 1 and Forest will collaborate on exciting content campaigns showcasing their developments and aimed at engaging supporters worldwide throughout the upcoming season and beyond.

Object 1, part of the international TSZ Group, is carving its own space with premium, high-quality developments that deliver lasting value at accessible price points. Known for its conceptual design, smart functionality, wellness features, and sustainability, the company has launched projects of lasting value across nine districts in Dubai, spanning from mass-market housing to premium, high-demand locations. Object 1 has a clear vision for long-term growth, with plans to expand into Abu Dhabi, the UAE’s capital.

Egor Maslennikov, Chairman and Founder of Object 1, added: “We are super excited to team up with Nottingham Forest, a club of such high calibre. We look at this partnership with great optimism and believe it’s just the beginning. Together, we aim to set new benchmarks, drive innovation, and create lasting value for people. For Object 1, this collaboration reflects our vision of aligning with global icons that share our passion for excellence and our commitment to building vibrant, forward-looking communities.”

Lina Souloukou, Nottingham Forest Chief Executive Officer, said: “Object 1 is an exciting challenger brand within the real estate sector in Dubai, which is growing rapidly and is deeply passionate about delivering high-quality, sustainable and affordable developments for its communities. Our values align strongly, and we’re very excited to welcome another internationally renowned brand to the Forest family for years to come.”

Football is the most popular sport in the Middle East, with many considering it a way of life, with millions of fans following local, European, and international tournaments. The UAE are making huge investments in their domestic leagues and international events. Through this partnership, Object 1 aligns itself with the excitement, ambition, and global reach that football represents, bringing these values closer to its communities in Dubai and across the UAE.

Object 1 and Nottingham Forest are committed to leveraging their shared values to create a meaningful impact both on and off the pitch. This partnership marks the beginning of a long-term collaboration that unites sporting excellence with Object 1’s vision for building vibrant, sustainable, and forward-looking communities in the UAE.