Abbas Sajwani, the 26-year-old son of Damac founder Hussain Sajwani, has achieved a remarkable success in Dubai’s real estate market. His $120 million investment in the once-derelict Al Yaqoub Tower, known locally as ‘Big Ben,’ has turned into a $600 million windfall, with 95% of the units already sold, according to a Bloomberg report. This achievement comes even before the building’s official completion in 2026, cementing Sajwani’s reputation as a rising star in the competitive Dubai real estate scene.
Al Yaqoub Tower’s Transformation: From Financial Dispute to Record Sales
The Al Yaqoub Tower, an iconic 71-story skyscraper located in Dubai’s financial district, had stood vacant since 2013 due to a financial dispute between its previous owners and the Commercial Bank of Dubai (CBD). Sajwani’s company, AHS Properties, acquired the tower in 2024 and has since rebranded it as the AHS Tower. Despite being an unfinished landmark, Sajwani has already managed to sell 95% of the tower’s office units, showcasing the strong demand for prime office space in Dubai.
Plans for Completion and Expansion
The AHS Tower is set for completion by the fourth quarter of 2026. The building will feature 69 floors of Grade A office space, 17 express elevators, over 500 parking spaces, and dedicated amenity floors that will include private spas and fitness facilities. These high-end amenities are expected to attract top-tier tenants, capitalizing on the strong demand for premium office spaces in Dubai.
According to Cushman & Wakefield, Dubai’s Grade A office occupancy rate reached 95.5% in Q3 2025, further underscoring the need for high-quality office buildings like the AHS Tower. Sajwani is confident that the tower will meet the needs of businesses seeking top-tier office space in the city’s financial hub.
AHS Properties’ Growing Ambition
AHS Properties, founded by Sajwani in 2021, initially focused on high-end residential projects. However, the success of the Al Yaqoub Tower project has marked a shift in the company’s strategy toward commercial real estate development. Sajwani is already in talks with banks to raise around $300 million through a sukuk bond to acquire land and expand his portfolio further.
A New Era for Dubai Real Estate
Abbas Sajwani’s $120 million bet on Al Yaqoub Tower has turned into one of Dubai’s most significant real estate success stories, with the tower’s transformation and strong sales underscoring the city’s booming office space market. As AHS Properties expands its reach into commercial developments, Sajwani’s strategic vision is poised to shape the future of Dubai’s real estate landscape.
