LUMENA ALTA

OVERVIEW

Lumena Alta is an ultra-premium off-plan commercial office tower by Omniyat in Business Bay, Dubai, scheduled for Q3 2030 completion. Standing 380 metres across 70 floors — of which 45 are dedicated office levels — it is among the most ambitious commercial developments in Business Bay's recent history. The tower is crowned by a Patina Hotels five-star hotel and features a sky pool at 335 metres. Units range from approximately 4,196 to 7,758 square feet in full-floor shell-and-core format, targeting LEED Platinum, WELL, WiredScore, and SmartScore certification. Offered at AED 4,400 per square foot on a 50/50 payment plan, Lumena Alta is reported as sold out, with availability limited to cancellation units only.

OFFICE STOCK AND TENANT PROFILE

Lumena Alta provides 45 dedicated commercial office floors within its 70-floor structure, with each level available as a full-floor shell-and-core unit from approximately 4,196 to 7,758 square feet, suited to large corporate occupiers and institutional users requiring entire floors. The intended occupier profile is high-net-worth owner-occupiers, family offices, institutional funds, and premium professional services firms seeking the highest-specification freehold commercial address in Business Bay. Certification targets — LEED Platinum, WELL, WiredScore, and SmartScore — align the building with global Grade A-plus standards, for which demand from institutional and multinational occupiers in Dubai materially exceeds available supply across the submarket.

RENTAL MARKET

As an off-plan development, Lumena Alta 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 375 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 550 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 Alta was offered off plan at AED 4,400 per square foot on a 50/50 payment plan and is reported as sold out. Availability is limited to cancellation units sourced directly from Omniyat or specialist brokers active in the Omniyat portfolio. Upon Q3 2030 completion, individually titled full-floor strata units will provide freehold ownership and post-handover transactability. Cancellation unit purchasers should conduct thorough due diligence on original contract terms, construction progress, DLD registration status, and any revised conditions prior to proceeding. Legal and commercial property advisors with specific Omniyat project experience should be engaged before committing to any acquisition at this price point.

LOCATION AND ACCESS

Lumena Alta is situated in Business Bay, with direct road access via Sheikh Zayed Road and Al Khail Road providing connectivity to DIFC, Downtown Dubai, and the wider emirate. Business Bay Metro Station on the Red Line provides public transport access for staff commuting. At 380 metres, the tower will offer panoramic views across Business Bay, Downtown Dubai, Dubai Creek, and the Arabian Gulf. The Burj Khalifa complex is approximately five minutes by road; DIFC is approximately seven minutes. Dubai International Airport is accessible within approximately twelve minutes. The surrounding Business Bay district provides luxury hotel, retail, and food and beverage amenity consistent with the tower's ultra-premium positioning.

RISKS AND WATCHPOINTS

Lumena Alta carries the construction and delivery risks inherent to an ultra-tall 70-floor development with a Q3 2030 completion target — a long horizon that increases exposure to contractor, supply chain, and regulatory risk. The pricing at AED 4,400 per square foot sets a high bar for post-handover exit and rental valuations, requiring conservative underwriting of 2030 market assumptions. Cancellation unit purchasers face additional risks relating to title transfer, seller motivation, and contract assignment complexity. Omniyat's track record in ultra-premium development provides partial mitigation, but the scale and complexity of Lumena Alta require thorough independent assessment before committing at this price point and development horizon.

STRATEGIC PERSPECTIVE

Lumena Alta positions Omniyat at the apex of the Business Bay commercial office segment: 45 full-floor office levels within a 380-metre landmark tower targeting LEED Platinum, WELL, WiredScore, and SmartScore certification, crowned by a Patina Hotels hotel. Dubai's structural undersupply of Grade A and ultra-premium commercial office space provides a constructive demand backdrop, and the limited availability of full-floor product at this scale and specification in Business Bay supports the investment rationale. The long development horizon to Q3 2030 requires patient capital, conservative market assumptions, and thorough stress-testing of handover scenarios across both rental and exit value dimensions before committing.