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Dubai’s Shangri-La hotel to be transformed into $1.3bn AHS Twin Towers luxury office development

Abbas Sajwani tells Gulf Business why AHS Properties is transforming the landmark Sheikh Zayed Road hotel into premium offices, with completion targeted for 2028

Gareth van Zyl
Gareth van Zyl

27 October, 2026

Dubai’s Shangri-La hotel to be transformed into $1.3bn AHS Twin Towers luxury office development
Image: Supplied

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One of Dubai’s most recognisable luxury hotels is set to be transformed into a $1.3bn premium office development, with more than 30 per cent of the project already booked, AHS Properties founder and CEO Abbas Sajwani has revealed.

The Shangri-La Dubai, a landmark on Sheikh Zayed Road for more than two decades, will undergo a major transformation into AHS Twin Towers, a Grade-A commercial development expected to be completed in 2028.

The move follows AHS Properties’ Dhs1.1bn acquisition of the hotel and reflects growing demand for premium commercial space in Dubai, as international businesses continue to establish and expand their presence in the emirate.

“There’s a huge demand in Dubai right now,” Sajwani told Gulf Business, referring to the commercial property market.

“The location is great, people love it for commercial, the views are great, the building layouts were excellent. It hit all the right boxes for a project that can be converted into a commercial building.”

Sajwani said the opportunity to complete the transformation in less than two years was another major attraction, allowing AHS to bring significant new commercial space to market relatively quickly.

Why offices instead of a hotel?

The decision to convert an established five-star hotel into premium offices represents a significant change for one of Dubai’s best-known addresses.

But Sajwani believes the economics of commercial real estate, particularly at the upper end of the market, make a compelling case for the transformation.

“The yield in the offices is excellent,” he said, pointing to a shortage of quality commercial space as more businesses relocate to Dubai.

“If you look at occupancy rates, they’re at over 95 per cent,” he added.

According to Sajwani, demand is already translating into strong early interest in the development.

“More than 30 per cent of the building is already booked,” he revealed.

The project will offer full-floor office spaces measuring approximately 16,000 square feet, alongside smaller half-floor configurations, catering to companies seeking corporate headquarters and investors looking for premium commercial assets.

HS Properties founder and CEO Abbas Sajwani

A new identity for a familiar landmark

While the Shangri-La has long been synonymous with luxury hospitality, Sajwani believes the transformation will give the property a new identity while retaining its importance as a business destination.

“It will be a new landmark where many people can come and do business and have global companies, have their headquarters, and have their offices,” he said.

“It will still stay as a business hub.”

The redevelopment will introduce a refreshed exterior and substantially reworked interiors, although Sajwani said the project would retain the building’s underlying design philosophy.

International architecture firm Gensler is responsible for the design, with interiors by AHS Atelier, the developer’s in-house design studio.

According to the company, AHS Twin Towers will comprise a ground floor and 49 upper floors, incorporating more than 30,000 square feet of wellness and fitness facilities and over 12,000 square feet of dining experiences.

Other amenities will include executive business lounges, a private wellness sanctuary with a lap pool, a landscaped rooftop sky garden and more than 1,000 parking spaces.

For Sajwani, however, the project’s biggest selling point remains its location.

“You’re in the middle of the city,” he said, highlighting the property’s proximity to DIFC, Downtown Dubai, Dubai International Airport and some of the city’s major leisure destinations.

The development will also offer panoramic views of the Burj Khalifa and the Arabian Gulf.

“Location is second to none,” he added.

AHS expands its commercial ambitions

The Shangri-La transformation marks another major step in AHS Properties’ expansion into commercial real estate, having initially established its reputation in Dubai’s ultra-luxury residential market.

The developer’s first Grade-A commercial project, AHS Tower, sold out for more than $700m during development, according to the company.

Sajwani said AHS would continue to concentrate its investment activities in Dubai, with a particular focus on Sheikh Zayed Road and premium commercial developments, alongside its existing residential portfolio.

DP World appoints two independent directors to board

Amer Abdulrahim Kazim and Iman Al Qasim bring experience across finance, corporate governance, human capital and organisational transformation

Rajiv Pillai
Rajiv Pillai

27 October, 2026

DP World appoints two independent directors to board
Image: Getty Images

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DP World has announced the appointment of Amer Abdulrahim Kazim and Iman Al Qasim as independent non-executive directors to its Board, with immediate effect.

The appointments bring additional expertise in finance, corporate governance, human capital and organisational transformation to the Dubai-based global logistics company’s board.

Amer Abdulrahim Kazim currently serves as group chief audit officer at Emirates NBD Group and has more than 27 years of experience across the banking, aviation, telecommunications and real estate sectors.

He previously served as chief financial officer at Emirates Integrated Telecommunications Company (du) and held senior positions at Emirates Group, Meraas and Dubai Airports.

Kazim also serves on the Audit Committee of Emirates Development Bank and is a member of the UAE Banking Federation Audit Committee.

Iman Al Qasim is executive vice president of Human Capital at Emirates Global Aluminium (EGA), bringing more than 20 years of experience in human capital management and organisational transformation.

She previously held senior leadership positions at Emirates National Oil Company (ENOC), Mubadala Investment Company, Dolphin Energy and General Motors Middle East.

Al Qasim also serves on the board of E7 Group.

Essa Kazim, group executive chairman of DP World, said: “I am pleased to welcome Mr Kazim and Ms Al Qasim to the Board. Their extensive experience and expertise across a range of industries will bring valuable perspectives to DP World as we continue to strengthen our governance and deliver on our long-term strategic objectives.”

OFG Education acquires Crown American Private School in Ajman

The acquisition expands the UK-based education group’s UAE presence amid rising private-school enrolment in Ajman

Gulf Business
Gulf Business

27 October, 2026

OFG Education acquires Crown American Private School in Ajman
Image: Supplied

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UK-based OFG Education, backed by TPG’s The Rise Fund and Investcorp, has acquired Crown American Private School in Ajman, further expanding its presence in the UAE’s private education sector.

Dubai-based transaction advisory firm Ideal Capital Management Consultants acted as the exclusive sell-side adviser to the school’s shareholders, supporting the transaction from sale readiness and buyer engagement through to completion.

Crown American Private School, located in Ajman, follows an American K-12 curriculum. The acquisition forms part of OFG Education’s broader international expansion strategy and reflects continued interest from international education operators in the UAE market.

OFG Education is backed by TPG’s The Rise Fund and Investcorp. TPG ranked fourth globally for five-year private equity fundraising in the 2026 PEI 300 ranking.

Ajman’s private education sector

The transaction comes amid growth in Ajman’s private education sector.

According to the Ajman Statistics Center’s 2025 statistical book, private-school enrolment reached 88,437 students in the 2024–25 academic year, compared with 74,673 students in the previous year.

Ramesh Mahalingam, managing director of Ideal Capital, said: “The UAE’s education sector continues to attract interest from international operators looking to expand their presence in the region. For shareholders, transactions of this nature require careful consideration of the right strategic partner, the institution’s long-term direction and the objectives of the incoming owner. Our role is to guide shareholders through this process, bringing structure and clarity to complex decisions while helping them achieve an outcome aligned with their priorities.”

Ideal Capital advised the shareholders throughout the transaction process, including preparing the school for sale, engaging with potential buyers and supporting the completion of the acquisition.

The firm said education-sector transactions involve considerations beyond ownership transfers, including long-term institutional development, continuity for school communities and alignment between shareholders and prospective owners.

The financial terms of the acquisition were not disclosed.

Apple responds to iPhone Duo screen cracks, offers replacements

Apple acknowledges display issues affecting a small number of its first foldable iPhones, days after the device’s global launch

Rajiv Pillai
Rajiv Pillai

27 October, 2026

Apple responds to iPhone Duo screen cracks, offers replacements
Image: Getty Images/Image for illustrative purpose

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Article Summary
Apple has acknowledged reports of cracked inner displays on its newly launched foldable iPhone Duo. The issue primarily affects the central hinge, with damage appearing shortly after initial use.

Apple has acknowledged reports of cracked screens on its newly launched iPhone Duo, confirming that a small number of devices are affected and advising customers experiencing display problems to contact AppleCare for a replacement.

The response comes just days after Apple’s first foldable smartphone went on sale globally, including in the UAE, on October 23, with early buyers reporting cracks and display failures around the device’s central folding hinge.

According to Reuters, Apple confirmed the issue on Monday, October 26, following complaints shared on Reddit and other social media platforms over the weekend.

What Apple said about iPhone Duo screen issues

In a statement shared with 9to5Mac, Apple said the overall response to its foldable smartphone had been positive, while acknowledging problems affecting certain units.

“The response to iPhone Duo from early users has been incredibly positive, and we are seeing exciting things from developers who are rapidly updating their apps to take advantage of its unique form factor,” Apple said.

“We are aware of an issue impacting the inner display on a small number of iPhone Duo units. If users experience issues with their iPhone Duo display, they should contact AppleCare for a replacement.”

The company indicated that affected devices tend to develop display problems relatively quickly after use.

However, Apple has not disclosed the number of affected units, identified the underlying cause or confirmed whether a hardware modification is being planned.

iPhone Duo users report cracks near folding hinge

The issue emerged shortly after the iPhone Duo’s launch, when several users began sharing photographs and videos of damaged internal displays on Reddit and X.

Some customers reported cracks developing along the central hinge after only a few hours of use, while others described unusual resistance or popping sounds when opening the device.

Several affected screens displayed similar damage patterns, including cracks along the folding mechanism and horizontal lines of bright pixels.

According to MacRumors, some customers have already received replacement devices at Apple retail stores, although limited stock availability has resulted in delays for others.

UAE e-invoicing: Oct 30 provider deadline looms for firms with Dhs50m+ revenue

For persons subject to the system with annual revenues below Dhs50m, the deadline to appoint an accredited service provider is March 31, 2027

Neesha Salian
Neesha Salian

26 October, 2026

UAE e-invoicing: Oct 30 provider deadline looms for firms with Dhs50m+ revenue
Image: Getty Images/ For illustrative purposes

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Businesses subject to the UAE’s e-invoicing system with annual revenues of Dhs50m or more must appoint an accredited service provider by October 30, 2026, the Federal Tax Authority (FTA) said, warning of penalties for missing implementation deadlines.

Those businesses must implement the system by January 1, 2027. The authority urged affected entities to complete preparations ahead of the deadlines, including selecting a provider, signing a contract, integrating their systems and following the required procedures on its EmaraTax platform.

An administrative penalty of Dhs5,000 applies for each month or part of a month of delay in implementing the system, including failure to appoint an accredited service provider within the prescribed deadline, the FTA said.

For persons subject to the system with annual revenues below Dhs50m, the deadline to appoint an accredited service provider is March 31, 2027. They must implement e-invoicing no later than July 1, 2027.

Annual revenue of persons subject to the systemDeadline to appoint an accredited service providerImplementation deadline
Dhs50m or moreOctober 30, 2026January 1, 2027
Below Dhs50mMarch 31, 2027July 1, 2027

The system is intended to simplify, standardise and automate invoicing processes, the authority said.

Its readiness was tested during a pilot phase that assessed integration procedures, user experience and the preparedness of relevant parties ahead of mandatory implementation.

The FTA said it had adopted flexible implementation mechanisms and streamlined procedures to support business continuity. It is also holding in-person and virtual awareness sessions covering the categories required to comply, implementation conditions, connection procedures and activation through EmaraTax.

At a joint meeting in Dubai in September, accredited service providers, companies and other entities subject to the system met FTA officials and experts to discuss implementation requirements.

The meeting allowed participants to identify potential service providers and receive guidance on the legal framework and the process for joining the system, the authority said.

The FTA urged affected persons to review the requirements, legislation, procedures and guidance available on its website.

Two venues, one calendar: Here’s how DWTC has kept Dubai’s events moving

More than 100 events in the final four months of the year, a calendar reshuffled and back on track, and the next phase of a Dhs10bn expansion due in 2029. Dubai World Trade Centre’s Mahir Julfar and Amer Al Farsi explain how capacity, confidence and a new district at Expo City fit together

Neesha Salian
Neesha Salian

26 October, 2026

Two venues, one calendar: Here’s how DWTC has kept Dubai’s events moving
Images: DWTCA/ Supplied

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In September, Arabian Travel Market (ATM) went ahead at Dubai World Trade Centre after being rescheduled earlier in the year. The region’s leading travel and tourism show ran from 14 to 17 September and welcomed more than 55,000 attendees from 166 countries and 2,800 exhibitors.

It was one of several events rescheduled this year, and one of the clearest signs that Dubai’s business calendar had held. “ATM’s delivery, alongside other major events held in recent months, demonstrates the continued engagement of the international business events community with Dubai,” says Mahir Abdulkarim Julfar, executive vice president of Dubai World Trade Centre.

Now DWTC is running one of its busiest stretches. “Our immediate priority is to deliver a strong Q4 across both venues,” Julfar says. “We have more than 100 exhibitions, conferences and business events scheduled from September to December, including Beautyworld Dubai, Big 5 Global and GITEX Global.”

The stakes are not small. DWTC’s 2025 Economic Impact Assessment put the economic output of its large-scale events at a record Dhs25.03bn, up 12 per cent year-on-year. The venue hosted 108 large-scale events, drew more than 2.18 million attendees and supported more than 94,000 jobs. Every dirham spent at a DWTC event generated Dhs5.5 in total economic output across the city. Under the Dubai Economic Agenda D33, the target is to triple the sector’s annual contribution to Dhs54bn by 2033.

That run opened in September with DUPHAT, Middle East Energy and Arabian Travel Market, followed in October by Arab Lab, WETEX, the World Green Economy Summit and Beautyworld Dubai, with CABSAT and SAT Expo at DEC. Gulfood Manufacturing and Big 5 Global follow in November, and in December GITEX Global moves to DEC for the first time.

“The strength of this pipeline reflects continued global demand for events that bring industries together to do business, build relationships and access new markets, reinforcing Dubai’s position as a leading destination for the international MICE industry,” Julfar says.

Running Dubai International Convention & Exhibition Centre (DICEC) in the central business district alongside DEC, he adds, “has already demonstrated the value of having two complementary venues”.

“This dual-venue model is central to how we plan Dubai’s event calendar, enabling established exhibitions to grow into the additional capacity while accommodating different event requirements, managing several major exhibitions concurrently and creating space for new formats and sectors to enter the market. The same flexibility will support the strong pipeline scheduled across both venues through the remainder of 2026.”

Mahir Abdulkarim Julfar, executive vice president of Dubai World Trade Centre and Amer Al Farsi, vice president of real estate development at DWTC

Keeping the doors open
Getting here took work. “The regional situation required some practical adjustments to the events calendar earlier this year,” Julfar says. “We have remained in close dialogue with organisers, working through individual requirements and finding practical solutions where needed. This has allowed a number of events to be rescheduled, with several now taking place in the final quarter. At the same time, international exhibitors and industry professionals have continued to travel to Dubai to meet, trade and build partnerships.”

He credits close coordination with government stakeholders and partners across the city, which let DWTC monitor developments and respond quickly where required. “Safety remains the priority, underpinned by the operational coordination and flexibility needed to give organisers and exhibitors confidence as they plan and deliver their events,” he says.

Dubai’s wider set-up is part of it too, he says. Government leadership and working relationships across aviation, hospitality, transport, logistics and government agencies allow DWTC to give organisers “clear, consistent guidance and support throughout the event delivery process”.

His conclusion is a simple one. “Ultimately, confidence comes from experience,” he says. “The successful delivery of events throughout this period shows Dubai’s ability to remain open, operational and connected to the international events community, while giving organisers the support they need to plan with confidence.”

Phase 1 of the DEC expansion was built for exactly this kind of year. It delivered 140,000 sqm of event space, including 64,000 sqm of permanent exhibition halls and 30,000 sqm of flexible pavilions, with capacity for up to 50,000 visitors a day. Ahead of Gulfood and World Health Expo, which ran back-to-back in January and February across both venues, DWTC worked with the Roads & Transport Authority and Dubai Police on a citywide mobility plan, with extra Metro services, a dedicated express shuttle network and park-and-ride options linking the two venues.

“Operating across Dubai International Convention & Exhibition Centre (DICEC) and Dubai Exhibition Centre (DEC) has given us greater capacity and flexibility to support the growth of existing events,” Julfar says. “The first year of operating across two venues has shown us that additional space is not simply about accommodating larger exhibitions; it allows organisers to think differently about the scale, format and international reach of their events.”

The numbers bear that out. Gulfood 2026 more than doubled in scale, bringing together more than 8,500 exhibitors from 195 countries across over 280,000 sqm of exhibition space. World Health Expo welcomed more than 219,000 attendees and over 4,100 exhibitors.

“Both events demonstrated how additional capacity can enable established exhibitions to grow while attracting greater international participation and creating more opportunities for businesses to connect,” Julfar says.

The bigger lesson was about what happens outside the halls. “The experience has also reinforced that the visitor journey extends well beyond the exhibition floor,” he says. “When you operate at this scale, access, transport, parking, wayfinding, movement between halls, hospitality and supporting services all need to work together as one experience. That has been one of the most important learnings from operating across two venues this year.”

“These learnings are now informing the next phase of DEC’s development,” he adds.

Building to 180,000 sqm
That next phase is already under way. The Dhs10bn masterplan, approved by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, in September 2024, will make DEC the region’s largest indoor events venue when complete. DEC’s pavilion areas were set to go back into construction after the first-quarter mega events, and work on Phase 2 has progressed steadily through 2026.

“The next milestones will see Dubai Exhibition Centre (DEC) progress through the remaining phases of its masterplan, adding the capacity and infrastructure needed to support the continued evolution of Dubai’s business events sector,” says Amer Al Farsi, vice president of real estate development at DWTC.

“Phase 2 of the DEC expansion is progressing in line with our plans and is scheduled for completion in 2029. It will take DEC’s indoor event space to approximately 160,000 sqm and increase daily visitor capacity to around 60,000. Importantly, this phase will not only add to the existing space but will also create a more integrated venue experience at Expo City, including an extended concourse, a new Eastern Access Road and multi-storey parking facilities initially providing 7,000 spaces.”

Those are the pieces Julfar’s visitor-journey lessons point to. “Together, these enhancements will support smoother movement and a more connected experience for organisers, exhibitors and visitors as the venue continues to grow,” Julfar says.

Phase 3 completes the build. “Phase 3, scheduled for completion by 2031, will take DEC to its full 180,000 sqm across 26 interconnected halls, with capacity to welcome 65,000 visitors a day and host more than 20 events simultaneously,” Al Farsi says. “The masterplan is being delivered in stages to respond to the growth of the business events sector and the requirements of organisers looking to expand their events in Dubai.”

DEC phaseCompletionIndoor event spaceDaily visitor capacity
Phase 12026 (complete)140,000 sqm50,000
Phase 22029approx. 160,000 sqmaround 60,000
Phase 3by 2031180,000 sqm, 26 halls65,000

He points to the same two shows Julfar does. “We have seen this with Gulfood and World Health Expo this year, where additional capacity enabled established events to expand their footprint and international participation. These events demonstrate how additional space can support the growth of existing exhibitions while creating greater opportunities for international businesses to participate.”

“The DEC masterplan reflects the long-term growth of Dubai’s business events sector,” he says. “The additional capacity will enable established events to grow their footprint while providing greater scope to accommodate new international events as Dubai’s business events calendar develops.”

More than an exhibition hall
A venue of that size needs a neighbourhood around it, and that is the other half of Al Farsi’s brief. DWTC is also a property developer, in the city centre and at Expo City.

“Our real estate strategy is centred around two complementary locations, each at a different stage of development,” he says. “In Dubai’s Central Business District, we have an established ecosystem anchored by Dubai International Convention & Exhibition Centre (DICEC), alongside our commercial and Free Zone portfolio. At Expo City Dubai, we have the opportunity to build on that model at a much greater scale, with Dubai Exhibition Centre (DEC) at the heart of an emerging mixed-use destination.”

“By 2031, the wider masterplan will extend beyond the exhibition venue to include hotels, commercial offices, retail and F&B space, as well as additional meeting and flexible working facilities. The ambition is to create an environment where business events are supported by the infrastructure and amenities that organisers, exhibitors and visitors increasingly expect around a major international venue.”

Homes are part of it too. “Residential development is another important part of that ecosystem,” Al Farsi says. “Through our joint venture with Emaar Properties, Expo Living will bring together residential, retail, hospitality and commercial elements across a 450,000+ sqm urban community, ultimately comprising five residential communities and over 3,500 units.”

“Following Terra Heights, Terra Gardens represents the next phase, adding 560 apartments and townhouses alongside landscaped spaces, wellness and leisure facilities and direct access to Expo Mall, which is expected to be operational by Q1 2028.”

Al Farsi sees Expo Mall as more than a retail destination. He expects it to shape the wider community, bringing shopping, dining, entertainment and everyday services closer to residents while drawing visitors to the area. Expo Village, he adds, strengthens the residential community already established there.

Back in the city, the CBD portfolio keeps its own pull. “At the same time, we continue to develop and manage our portfolio in the Central Business District, where businesses benefit from being directly connected to DICEC, the DWTC Free Zone and the international business community that our events bring to Dubai throughout the year.”

So where is the strongest case for further development? Al Farsi does not pick one site over the other.

“So, when we look at where the strongest opportunity for further development lies, it is about building on the strengths of both locations: continuing to enhance our established CBD portfolio, while developing the wider ecosystem around DEC at Expo City Dubai.”

By 2031, DEC is set to cover 180,000 sqm across 26 halls, welcome 65,000 visitors a day and host more than 20 events at once, with hotels, offices, shops and homes around it. This year, Gulfood needed two venues to grow. The masterplan is DWTC’s answer for the shows that come next.

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