LUMENA

OVERVIEW

Lumena is an ultra-premium off-plan commercial office tower by Omniyat in Business Bay, Dubai, with direct Sheikh Zayed Road frontage and completion targeted for Q4 2029. The development stands 260 metres across 47 floors and comprises 91 individually titled strata office units from approximately 4,966 to 16,937 square feet in 59 standard, 30 half-floor, and 2 full-floor configurations. The project targets LEED Platinum, WELL Platinum, WiredScore Platinum, and SmartScore Platinum certification, positioning it at the apex of Dubai's Grade A commercial office specification. Offered at AED 4,300 per square foot on a 50/50 payment plan, Lumena is reported as sold out, with availability limited to cancellation units only.

OFFICE STOCK AND TENANT PROFILE

Lumena provides 91 individually titled office units across 47 floors with a total gross saleable area of approximately 582,184 square feet. The 91 units comprise 59 standard, 30 half-floor, and 2 full-floor configurations from approximately 4,966 to 16,937 square feet in shell-and-core format, served by 19 double-deck elevators. Certification targets — LEED Platinum, WELL Platinum, WiredScore Platinum, and SmartScore Platinum — align Lumena with global institutional Grade A-plus standards. Dubai's structural undersupply of office space at this specification level positions the building as a structural beneficiary of institutional occupier demand, with top-tier vacancy consistently near historic lows across the submarket.

RENTAL MARKET

As an off-plan development, Lumena has no established rental market at the time of writing. Indicative projections based on a gross yield approach suggest a conservative gross return of approximately 8 percent on acquisition price — approximately AED 350 per square foot per annum — a practical scenario of 10 percent (approximately AED 450 per square foot per annum) and an optimistic scenario of 12 percent (approximately AED 525 per square foot per annum). Commercial yields in Dubai are structurally higher than residential, supported by shorter lease cycles and strong occupier demand in a supply-constrained market. Actual returns will depend on market conditions at handover and quality of occupier secured. Independent rental appraisal is strongly recommended prior to any acquisition commitment.

SALES MARKET

Lumena was offered off plan at AED 4,300 per square foot on a 50/50 payment plan and is reported as sold out. Availability is limited to cancellation units, which may be sourced from Omniyat or specialist commercial brokers. Upon Q4 2029 completion, the 91 strata units will be individually titled, providing freehold ownership and post-handover transactability. Cancellation unit purchasers should conduct thorough due diligence on original contract terms, DLD project registration, construction progress, and any revised contractual conditions. Independent legal and commercial property advice from advisors with specific Omniyat portfolio knowledge is strongly recommended before committing to any acquisition.

LOCATION AND ACCESS

Lumena is positioned with direct Sheikh Zayed Road frontage in Business Bay, providing prominent visibility and immediate road access to central Dubai, DIFC, and the wider emirate. Business Bay Metro Station on the Red Line is in the immediate vicinity, providing Metro connectivity without need for road transport. At 260 metres, the tower will command panoramic views across Business Bay, Downtown Dubai, and the broader Dubai skyline. DIFC is approximately five to seven minutes by road; Dubai International Airport is accessible within approximately twelve minutes. The surrounding Business Bay and SZR corridor provides luxury hotel, retail, and food and beverage amenity consistent with the ultra-premium positioning of the project.

RISKS AND WATCHPOINTS

Lumena carries construction and delivery risk over its Q4 2029 development horizon, with completion subject to contractor performance, supply chain conditions, and regulatory approvals. The ultra-premium pricing at AED 4,300 per square foot requires conservative underwriting of post-2029 market conditions; the specification premium embedded in the Platinum certification targets must be evaluated critically against realistic handover assumptions. Cancellation unit purchasers face additional risk relating to title transfer complexity and potential contract assignment issues. Omniyat's institutional reputation and established delivery track record provide partial mitigation, but thorough independent due diligence remains essential for any prospective acquirer at this price point.

STRATEGIC PERSPECTIVE

Lumena offers 91 individually titled strata offices within an Omniyat-delivered, SZR-fronting ultra-premium Business Bay tower targeting the full suite of institutional certifications. The strata structure provides more accessible entry-level ticket sizes relative to Lumena Alta's full-floor format, while the Omniyat brand and Platinum certification targets support a robust investment case. Dubai's persistent structural undersupply of Grade A commercial office space — with top-tier vacancy near historic lows and constrained new supply relative to institutional demand — provides a supportive structural backdrop. Patient capital, conservative market assumptions, and a thorough stress-test of Q4 2029 handover scenarios are advisable before committing.