(Dec 29): Despite surging demand for office space in Dubai, one tower on the edge of the city’s financial district has stood empty for about a decade. Abbas Sajwani, the 26-year-old son of billionaire developer Hussain Sajwani, bought the building last year for US$120 million (RM485.64 million). Despite its prime location, the tower had remained vacant after its previous owner fell behind on debt repayments to Commercial Bank of Dubai PSC. The tower, built around the time of the global financial crisis that upended Dubai’s property market, was beset by delays and disputes, leaving it unfinished for years. Once refurbishment is complete, the building — now rebranded as AHS Tower — will lose the clock-face design that earned it the “Big Ben” moniker.

Source: The Edge Markets December 29, 2025 12:01 UTC