Abu Dhabi’s largest property developer, Aldar Properties PJSC, plans to invest $490 million in Dubai, one of the world's most dynamic commercial real estate markets. Aldar announced plans to construct a skyscraper near Dubai’s financial center, featuring offices, a luxury hotel, and branded residences. Additionally, the company will purchase a fully occupied office building on the other side of the city. The new skyscraper will be among Dubai’s largest, offering 88,000 square meters (947,224 square feet) of net leasable area, second only to ICD Brookfield Place, Dubai's largest commercial tower. Aldar's first commercial project in Dubai will feature Grade A office space near Sheikh Zayed Road, slated for completion by the fourth quarter of 2027. This move follows the successful sale of homes worth $844 million within hours at a housing community co-developed in Dubai.

The city's property market has rebounded from a seven-year slump, driven by an influx of high net worth individuals, hedge fund executives, crypto investors, and wealthy Russians, along with government reforms and relaxed visa rules. With city-wide office occupancy rates at 91.3%, Dubai stands in stark contrast to high vacancy rates in other business hubs like London and New York. Aldar will also acquire the newly built ‘6 Falak’ tower in Dubai Internet City from Sweid & Sweid, which boasts 9,100 square meters of net leasable area and hosts marquee tenants like Merck and Roland Berger. CEO Talal Al Dhiyebi emphasized that Dubai remains a priority growth market for Aldar, signaling continued expansion across key real estate asset classes.