NABNI Developments has officially opened sales for the Waldorf Astoria Residences Dubai Business Bay, marking the iconic hospitality brand’s first standalone residential project outside the United States.
Unveiled on 19 May 2025, the launch follows a landmark partnership signed in 2024 between NABNI and Hilton.

The ultra-luxury development will feature 146 units across 65 storeys and is set to become the second tallest residential tower in the Business Bay and Downtown Dubai district once completed in Q4 2029.

“This translates perfectly to the residential market and, more specifically, to Dubai’s incredibly competitive premium real estate landscape,” said Abdulrahman Abdulla Alhelo Alsuwaidi, co-founder and chairman of NABNI Developments.

“Recent data from property consultancy Global Branded Residences revealed a 43 per cent year-on-year increase in 2024 in the sale of branded units, with this figure set to more than double in the next five years.”

Designed by the globally acclaimed architect Carlos Ott, the 350-metre tower draws deeply from Waldorf Astoria’s 130-year hospitality heritage, while the interiors—crafted by Hirsch Bedner Associates (HBA)—blend rich Art Nouveau and graceful Art Deco influences with Dubai’s bold modern design sensibility.

Residences are split into three bespoke collections:

• Signature Collection: One to three-bedroom residences
• Sky Collection: Four-bedroom units, multi-level sky villas, and sky mansions
• Sky Palace: A one-of-a-kind penthouse spanning four floors, with breathtaking 360-degree city views

Alsuwaidi added: “Our partnership with Hilton is elevating Dubai’s branded residences market by setting a new benchmark for luxury hospitality-led excellence… NABNI Developments’ ambition to lead the region’s branded residences segment through architectural mastery, service excellence, and unmatched attention to detail is exemplified in this exciting project.”

The tower’s prime location offers uninterrupted, dazzling views of the Burj Khalifa, while every residence features premium materials, intelligently optimised spatial layouts, and private lift access that brings residents and guests directly to their exclusive apartment lobbies.

Planned leisure and lifestyle offerings include:

• The world’s highest ‘Golf in the Sky’ simulator at 270 metres
• Adult-only and family pools with private cabanas
• A Waldorf Astoria spa and wellness centre
• Fitness and yoga studios, and a serene meditation deck
• Bespoke services such as in-home spa treatments, private chefs, personal drivers, pet care, and secretarial support

NABNI has also opened a stunning 1,000-square metre Sales Experience Centre in Business Bay, offering potential buyers a fully immersive 3D walkthrough of unit layouts and an interactive scale model of the visionary project.

Construction is set to begin in June 2025.

Motorists in Dubai can now benefit from new flexible parking subscription packages introduced by Parkin UAE, designed to simplify and enhance the parking experience across the city.

The announcement with regards to this was made on ParkinUAE official X account.

Read-New update on Dubai’s variable parking tariff policy; see details

The new subscription plans cover a wide range of parking options, including roadside spaces, public plots, and designated areas within private developments. These packages aim to offer convenience and cost savings for daily commuters, residents, and frequent visitors.

Roadside parking

Motorists can access convenient roadside parking across Dubai’s main streets and areas. These spaces are typically regulated by meters or zone codes (A & C) and are ideal for short-term parking during errands or brief visits.

Key benefits of the subscription model

Unlimited parking: Enjoy unrestricted daily parking in multiple areas without individual payments.

Exclusive savings: Access special rates available only to subscribers, offering more value for frequent users.

Worry-free convenience: Avoid the hassle of extending sessions or incurring fines, with seamless parking access.

Available parking zones and pricing

Wasl Real Estate: Park in popular Wasl-managed areas with subscriptions starting from Dhs300/month for zones W and WP.

Silicon Oasis (Zone H): Convenient parking near homes and offices, with subscriptions from Dhs1,400 for three months.

Silicon Oasis (Limited Area): Dedicated parking from Dhs1,000 for three months in select Silicon Oasis areas.

Dubai Hills (Zone 631G): Annual subscription options available for frequent commuters and residents.

Roadside and plot parking (Zones A, B, C, D): Subscriptions from Dhs500/month allow for seamless access without the need for meter payments.

Plot-only parking: Starting at Dhs250/month, users can park up to three vehicles in designated plots across zones B and D.

Parkin’s new subscription plans are aimed at delivering a more streamlined, cost-effective parking solution for all types of motorists in Dubai. Users can choose the package that best suits their lifestyle and parking habits.

Financial software company Finastra has entered into an agreement to sell its treasury and capital markets (TCM) business unit to an affiliate of private equity advisory firm Apax Partners, the companies said on Monday.

The TCM unit, which serves more than 340 financial institutions globally, will be rebranded and operate as a standalone business following the transaction.

Finastra said the move would streamline its operations and allow it to reinvest in core areas of its financial services software portfolio.

“This sale marks an important milestone for Finastra that will help further launch our next phase of growth with a focused suite of mission-critical financial services software,” said Finastra CEO Chris Walters. “It will provide capital to accelerate our strategy and reinvest in our core business.”

Finastra TCM offerings

TCM’s software offerings — including Kondor, Summit, and Opics — support a range of front-to-back office functions in trade lifecycle management, risk, and regulatory compliance.

The unit is embedded within the global banking infrastructure and will now look to expand its technological capabilities under Apax ownership.

Apax said it sees long-term value in the platform and intends to support the business with investments in product development, marketing, and cloud infrastructure.

“TCM is a robust, mission-critical platform with leading functionality and an impressive customer base,” said Jason Wright, Partner at Apax. “We see significant potential to invest in technology, talent, and customer relationships to accelerate innovation and growth as a standalone company.”

Gabriele Cipparrone, partner at Apax, added: “With the backing of the Apax Funds, we expect TCM to benefit from accelerated innovation and enhanced operations, delivering even greater value to its clients.”

The transaction is expected to close in the first half of 2026, pending customary closing conditions and employee consultations.

Financial terms were not disclosed.

Finastra counts 45 of the world’s 50 largest banks among its clients

Finastra, owned by Vista Equity Partners, provides software applications to 8,100 financial institutions across lending, payments, treasury and capital markets, and digital banking. The company is active in over 135 countries and counts 45 of the world’s 50 largest banks among its clients.

Apax Funds have a history of investing in software firms, including Paycor HCM, Zellis Group, IBS Software and Azentio, and have completed several corporate carve-outs in the tech sector.

Evercore acted as lead financial advisor to Finastra and Vista, with Perella Weinberg Partners also advising Finastra. Deutsche Bank advised Apax. Legal counsel was provided by Kirkland & Ellis for Finastra and Simpson Thacher & Bartlett for Apax.

Read: Finastra’s Siobhan Byron on addressing financial inclusion, agility

With record-breaking property sales and a steady influx of ultra-high-net-worth individuals (UHNWIs), Dubai is increasingly positioning itself as a premier destination for global investors seeking long-term residency, asset diversification, and a stable economic environment.

Read-6,700 millionaires relocated to the UAE in 2024, report reveals

According to Jeremy Savory, CEO of Savory & Partners, Dubai’s booming real estate market is a direct reflection of its growing international appeal. “As Dubai has physically grown, so has its reputation. Property sales are up 89 per cent year-on-year, with land transactions accounting for half of all activity in April 2025,” he said. In 2024 alone, Savory & Partners facilitated 70 property purchases, several of which led to long-term residency in the UAE.

Pro-business environment and financial appeal

Savory attributes this trend to the UAE’s resolutely pro-business infrastructure, streamlined company incorporation, and ease of accessing regional wealth. “The combination of a low-tax environment, excellent airline connectivity, and sophisticated financial systems is a significant draw for high-net-worth individuals (HNWIs),” he added.

Government incentives also play a major role in attracting global capital. “The absence of capital gains tax and personal income tax continues to be a major pull factor,” said Savory. Industry estimates suggest more than 5,000 HNWIs are expected to relocate to the emirate in 2025 alone.

Golden Visa fuels investor confidence

One of the game-changers has been the UAE’s Golden Visa program, which incentivizes long-term real estate investment. “The visa is tied to the property asset, encouraging investors to take a longer-term view rather than speculate,” said Savory. He noted that the program has helped stabilize the market by raising the entry-level price point to around $550,000, pushing investors toward luxury and premium segments.

Additionally, developers are increasingly offering Golden Visa facilitation as part of their sales process, further streamlining the experience for foreign buyers.

Economic indicators bolster investor sentiment

Dubai’s expanding GDP, strong job creation, and growth in sectors like tourism, logistics, and finance are also shaping investor decisions. “These broader economic trends reduce vacancy risk and boost the long-term appreciation potential of real estate assets,” Savory explained. Dubai also continues to offer one of the highest rental yields globally—another major attraction for investors seeking alternatives to markets like London and Hong Kong.

“Dubai ranks among the top globally in terms of ease of property ownership and digital land registries, especially with full foreign ownership allowed in designated freehold zones,” he added.

Beyond business: A lifestyle destination

Beyond financial considerations, Dubai’s reputation as a family-friendly and secure city also draws in UHNWIs. “It’s an excellent place to raise a family, with top-tier schools and medical facilities,” said Savory, who himself is a resident.

Global investment gateway

Helena Savory, Managing Partner at Savory & Partners, emphasized Dubai’s rising status on the global investment map. “The city offers unmatched geographic connectivity, excellent infrastructure, and attractive investment returns. It’s a top choice for foreign investors seeking diversification and stability,” she said.

Foreign investors are particularly drawn to Dubai’s tax-friendly policies and swift transaction processes. “Cash deals can be completed in as little as 1–2 weeks, much faster than many cities across Europe where the process often takes up to 12 weeks,” Helena noted.

Ideal starting point for portfolio builders

For new investors building a global property portfolio, Dubai presents compelling advantages: “You have no income tax on rental or capital gains, entry points as low as $150,000, and relatively straightforward mortgage processes,” she said. The city’s lifestyle offerings, high safety ratings, and growing culinary scene also enhance its appeal as a second-home destination.

Emerging markets and best practices

While Dubai remains the primary focus, Helena pointed to other emirates and districts that are gaining traction. “You can expect rental yields between 5–9 per cent depending on the location. Hotspots include JVC, Arjan, and Dubai South for affordable options, and Palm Jumeirah or Emaar Beachfront for luxury buyers,” she said.

When it comes to building a successful portfolio in the UAE, diversification is key. “Mixing asset classes, understanding market cycles, and working with trusted agents can help investors access off-market deals and optimise returns,” she advised.

From the recent launch of the Trump Tower Dubai in partnership with the Trump Organization to exploring tokenised real estate and branded luxury developments from Muscat to Madrid, CEO Ziad El Chaar explains to Gulf Business editor, Neesha Salian, how Dar Global — the international arm of Dar Al Arkan — is redefining the global real estate landscape. With a focus on investor-first focus, ESG principles, and brand-driven development, the conversation offers insight into the company’s global footprint and the leadership mindset shaping its operations and future.

This is an exciting time, especially with the project involving the Trump Organization. What has driven the strategy behind this partnership and your broader regional expansion?

We started Dar Global almost four years ago, though the parent company, Dar Al Arkan, has a legacy spanning over 31 years. Dar Global focuses on developing international cities for HNWIs.

When we went public in 2023 on the London Stock Exchange, we committed to becoming one of the world’s top 50 global real estate developers. That goal requires pushing our annual revenue close to $3bn. So, we built the team, launched branches, and initiated developments across key cities.

Now it’s time to amplify results. We’ve been partnering with globally respected brands to maximise returns for our shareholders and real estate investors. The Trump brand, in particular, has strong global recognition and premium appeal. I helped introduce the Trump brand to Dubai 10 years ago with a golf community that became one of the city’s best.

We launched in Muscat with Trump-branded residences, attracting investors from over 50 nationalities. In Jeddah, we created a 47-storey premium tower with a Trump members-only club — another project that has drawn global attention, especially with Saudi Arabia’s new foreign investment laws that only came into effect last year. The brand brings luxury, exclusivity, hospitality, and international reach.

Read: Eric Trump tells Gulf Business why the region is the future of luxury real estate

Dubai’s real estate market is famously competitive. How do you see the Trump Tower project standing out among other iconic developments?

In real estate, the key element is always location. We chose a prime spot on Sheikh Zayed Road, right at the entrance of Downtown Dubai. This gives residents access to all the amenities of Downtown — without the traffic.

The views are stunning — Burj Khalifa on one side, and the sea, Jumeirah Bay, and La Mer on the other.

Beyond location, we’re adding value through hospitality. We’ve been investing heavily to bring the Trump Hotel brand to Dubai. We’re also introducing the Trump Members Club, and residences that come with access to what will be the world’s highest outdoor swimming pool.

When you combine all of that with Dar Al Arkan’s 31-year track record, you have a truly compelling offer. Our promise is to consistently outperform the market — not with hype, but with delivery and design that attract strong returns.

Let’s talk about technology and sustainability. Where does Dar Global stand on tokenisation and ESG?

Tokenisation is very close to my heart. I tried to initiate a real estate tokenisation project in Dubai back in 2018 and even published a white paper on the topic.

Dubai, with its investor diversity, is ideal for tokenisation. But it’s not just about creating tokens —you also need liquidity. If there’s no exchange to trade tokens, the system is half-cooked. We need a Dubai Security Tokens Exchange, like the Dubai Financial Market, where real estate tokens can be traded.

On sustainability, we take ESG seriously. Being listed in London means we comply with strict FCA guidelines. We try to go beyond local market standards and lead in ESG delivery.

In addition to the Trump brand, you’ve partnered with several others. What drives your strategy in branded residences?

We currently have 14 branded residence partnerships. Our strategy is investor-focused. We develop only in international cities with demand from multiple nationalities. Branded residences offer high desirability and limited supply, making them stable, high-yield products.

These global names help us offer something unique in each city. When you add a respected brand to a luxury location, you create a product that’s both exclusive and consistently in demand.

How are your international markets progressing, particularly Spain, Oman, the US, among others?

Our strategy is to develop in cities with broad, international demand. Many of our investors buy in multiple global locations — so in a way, we’re helping them complete their collections.

We’re already active in Doha, Moscow, Dubai, Muscat, Riyadh, Jeddah, Central London, southern Spain, and soon, Athens. We’re also exploring collaborations in parts of the US.

For now, we’re focusing on deepening our presence in these existing cities. Opening a new development setup is costly, so our priority is to grow where we’ve already established a footprint.

What leadership principles have guided you and your company to this level of success?

It’s all about focus. We don’t do everything. We chose a path — luxury real estate in international cities — and we’ve stayed true to it.

Every project we pursue is evaluated through one lens: is this good for our investors and shareholders? Can our team deliver it without being stretched? We don’t build because we like an idea; we build only if it serves all our stakeholders.

What advice would you give to other real estate leaders navigating today’s volatile global market?

Focus on scarcity. In real estate, it’s all about supply and demand. Don’t be the 700th tower in the suburbs with generic views. Those products perform only when the market is booming.

Instead, offer something unique: a one-of-a-kind product, a top-tier location, or cost leadership — though the latter is the hardest because you can’t control material costs. If you’re not unique or cost-efficient, don’t enter this business.

You are a busy CEO. How do you find a work-life balance?

I was taught by my late parents that you give everything to your work and livelihood — and whatever time is left, you live your life.

This idea of working six hours a day and prioritising weekends doesn’t hold in our world. If a client wants to meet on a Saturday, you show up in a suit. That’s what I teach my daughter too. Hard work, loyalty, and contribution to your institution’s success should the core values driving you.

Any parting thoughts?

My first interaction with Dubai’s real estate scene was at Cityscape 2012 in the World Trade Center. It’s amazing to see how far we’ve all come in just 20 years.