Billionaire heir revives one of Dubai's most infamous vacant towers
For years, one strange skyscraper near Dubai's financial core sparked questions, jokes, and endless curiosity. Locals called it the Big Ben Tower thanks to its clock-inspired exterior, yet the building stayed empty while offices nearby filled fast. That long pause is now over. Abbas Sajwani, a 26-year-old billionaire heir, has stepped in with real capital and launched a full refurbishment — turning one of Dubai's most talked-about vacant towers back into a live commercial asset. The revival is tied directly to the city's surging office demand, global finance traffic, and a generational shift in local development leadership.
The Billionaire Son Behind the Deal
Abbas Sajwani purchased the long-vacant tower through his firm AHS Properties for approximately $120 million. He is the son of Hussain Sajwani, founder of DAMAC Properties. The acquisition was completed in July 2025, with the seller being Commercial Bank of Dubai — which had taken control of the building after the previous owner fell behind on debt repayments.
The deal placed Abbas Sajwani at the centre of one of Dubai's most visible real estate mysteries. While many developments paused during earlier market cycles, this tower remained untouched even as office demand surged across the emirate. Sajwani has confirmed that refurbishment work is already underway, with completion targeted for the fourth quarter of 2026.
What Changes With the Revival
The refurbished project will carry a new identity. The clock-inspired exterior that earned the Big Ben nickname will be replaced by a contemporary all-glass facade. The building will relaunch as AHS Tower — a 328-metre, 69-storey Grade A office development featuring 17 express elevators, over 500 parking spaces, and dedicated amenity floors with private spas and fitness facilities.
Reports cited by Bloomberg and The Edge Markets indicate that approximately 95 percent of the tower's units have already secured buyers or pre-leases, generating close to $600 million in early sales. That response reflects enormous appetite for prime office space near Dubai's financial hub. AHS Properties has also explored Islamic financing options, including discussions around a sukuk of roughly $300 million to fund future acquisitions and developments.
What This Means for Dubai's Office Market
This revival sends a clear signal about where Dubai's commercial real estate sector stands. Grade A office occupancy in the emirate hit 95.5 percent in the third quarter of 2025, according to Cushman & Wakefield — leaving virtually no slack in the market. Financial firms, tech players, and global wealth managers are all competing for the same shrinking pool of premium space.
A tower that once symbolised delay and dysfunction now points toward momentum. The Dubai Big Ben Tower story shifts from a decade-long curiosity to a high-profile comeback, driven by capital, timing, and confidence in the city's commercial future. Abbas Sajwani's move turns a long vacancy into a statement about where the next generation of UAE developers intends to take the market.
