AHS Twin Towers Dubai 2026: How the Former Shangri-La Is Becoming a $1.3 Billion Grade A Office Landmark
One of Sheikh Zayed Road’s most recognisable hospitality properties is being repositioned for a very different use.
AHS Properties has announced AHS Twin Towers, a premium Grade A commercial redevelopment of the former Shangri-La Dubai property, with a reported project value of approximately $1.3 billion.
The redevelopment follows AHS Properties’ AED 1.1 billion acquisition of the hotel asset earlier in 2026 and will convert the landmark Sheikh Zayed Road complex into an office-led destination designed by global architecture firm Gensler, with interiors by AHS Atelier.
The investment case is closely tied to Dubai’s commercial property cycle. CBRE reported that Dubai office occupancy was approximately 94% in Q2 2026, while average office rents increased 13% year-on-year and prime rents rose 16%.
That makes AHS Twin Towers more than another office launch. It is a major example of adaptive reuse: converting an existing landmark structure into higher-value commercial space instead of building a tower from a vacant site.
AHS Twin Towers — 2026 Project Snapshot
Developer: AHS Properties
Location: Sheikh Zayed Road, Dubai
Previous asset: Shangri-La Dubai
Hotel acquisition value: AED 1.1 billion
Redevelopment value: Approx. $1.3 billion
Architecture: Gensler
Interiors: AHS Atelier
Structure: Ground floor plus 49 upper floors in current launch reporting
Wellness & fitness: More than 30,000 sq. ft.
Dining: More than 12,000 sq. ft.
Parking: More than 1,000 spaces
Target completion: 2028; current project material commonly indicates Q2 2028
From Shangri-La Hotel to Grade A Offices
Shangri-La Dubai opened in 2003 and became part of the established Sheikh Zayed Road skyline over more than two decades.
AHS Properties acquired the property for AED 1.1 billion in a transaction completed during the first half of 2026. At that stage, the developer had not publicly finalised the building’s future use.
By October, that strategy had become clear: rather than continue operating the asset primarily as a hotel, AHS would reposition it into high-end commercial space.
That matters because converting an existing high-rise can potentially reduce the period required to bring new commercial supply to market compared with starting from excavation and foundations on a new site.
AHS founder and CEO Abbas Sajwani has said the ability to complete the transformation in less than two years was part of the attraction of the asset.
Why Convert a Luxury Hotel Into Offices?
The conversion reflects the strength of Dubai’s premium office market in 2026.
CBRE’s Q2 market review reported office occupancy of approximately 94%, average rental growth of 13% year-on-year and prime rental growth of 16%.
| Dubai Office Metric | Q2 2026 Position |
|---|---|
| Average office rent growth | +13% YoY |
| Prime office rent growth | +16% YoY |
| Office occupancy | Approx. 94% |
| Market pressure | Limited Grade A availability |
Aurantius’ Dubai Office Rents 2026 report shows that the shortage is increasingly concentrated at the quality end of the market, where occupiers prioritise modern specifications, transport links, parking and efficient working environments.
Gensler Is Redesigning the Existing Landmark
The architectural transformation is being led by Gensler, while AHS Atelier is handling the interior design strategy.
The project is expected to introduce a new exterior identity while extensively reworking internal areas for commercial use.
This is a more complex process than simply refurbishing hotel rooms into offices. Premium corporate occupiers require different floor planning, lifts, access, technology, meeting infrastructure, parking, fire and life-safety design and shared business facilities.
The redevelopment therefore needs to preserve the advantages of the existing structure while making the asset competitive with newly designed Grade A towers entering the Dubai market.
What Office Sizes Will AHS Twin Towers Offer?
AHS has publicly confirmed full-floor office space of approximately 16,000 sq. ft., together with smaller configurations such as half floors.
Current launch brochures and market material also show more subdivided office products, but published size ranges differ between sales sources. Buyers should therefore rely on the developer’s latest unit schedule and floor plan for the exact saleable area of a particular office.
| Office Format | Current Market Positioning |
|---|---|
| Individual / subdivided offices | Smaller investor and owner-occupier configurations shown in launch material |
| Half floors | Larger regional businesses and corporate occupiers |
| Full floors | Approx. 16,000 sq. ft. in AHS launch reporting |
Wellness and Hospitality Are Being Built Into the Office Experience
AHS Twin Towers follows the increasingly common idea of office “hotelification”, where premium commercial buildings offer facilities traditionally associated with luxury hotels or residential developments.
Wellness & fitness: More than 30,000 sq. ft. dedicated to health and wellness facilities
Private lap pool: Part of the wellness sanctuary
Dining: More than 12,000 sq. ft. of culinary space
Executive business lounges: Shared corporate and meeting environments
Rooftop: Landscaped sky garden
Parking: More than 1,000 spaces
For corporate tenants, those features can improve employee experience, client perception and talent attraction.
For investors, however, they also create an important financial question: what service charge and operating cost will be required to maintain a building with extensive wellness, dining, landscaping and shared business amenities?
More Than 30% Was Reportedly Booked Before the Wider Rollout
AHS founder Abbas Sajwani said in late October that more than 30% of the building had already been booked.
This provides evidence of early demand, but investors should distinguish bookings or pre-sales from completed transfers and future occupancy.
The strongest indicator of the project’s eventual investment performance will be the relationship between purchase price, final office quality, service charges and achievable rents when the building reaches completion.
What Are the AHS Twin Towers Prices and Payment Plan?
Current launch material circulating in the market places offices broadly in the premium Sheikh Zayed Road pricing segment, with figures commonly beginning around AED 3,850 per sq. ft..
However, live listings and launch brochures currently show differences in quoted minimum office sizes, starting prices and instalment structures. Some material shows a 50/50 structure, while other pre-launch sources have circulated different schedules.
Buyers should therefore use the current developer-issued price list, reservation form and SPA rather than relying on an earlier broker sheet.
| Buyer Item | What to Confirm Before Booking |
|---|---|
| Price per sq. ft. | Exact floor and office-specific price |
| Office area | Saleable area versus actual usable floor space |
| Payment schedule | Developer’s current signed instalment plan |
| Handover balance | Amount that must be funded in 2028 |
| Fit-out | Whether office is delivered shell-and-core and expected fit-out budget |
AHS Has Already Tested the Sheikh Zayed Road Office Market
AHS Twin Towers is not the developer’s first major commercial repositioning on Sheikh Zayed Road.
Its earlier AHS Tower — the building previously known for its “Big Ben” clock-style appearance — sold out during development and generated more than $700 million in sales according to AHS.
Aurantius covered that transaction in Dubai’s Former “Big Ben” Tower Sells Out, Generates $700M.
That previous result helps explain why AHS is again targeting the premium commercial sector, although success at one building does not automatically establish the future rental or resale performance of another.
AHS Twin Towers vs Dubai’s New Grade A Office Pipeline
AHS Twin Towers is launching at the same time as several major premium commercial projects across central Dubai.
| Project | Positioning | Current Completion Target |
|---|---|---|
| AHS Twin Towers | Adaptive-reuse Grade A offices on Sheikh Zayed Road | 2028 / commonly Q2 2028 |
| Berkeley Tower | New-build Grade A Business Bay development | Around 2030 |
| Christian A. Rockefeller Business Tower | Large branded commercial tower on Sheikh Zayed Road corridor | Current material commonly indicates Q2 2031 |
Investors comparing the pipeline can review Aurantius’ Berkeley Tower analysis and Christian A. Rockefeller Business Tower guide.
The key comparison is not which development has the biggest headline. It is which building offers the best combination of entry price, usable floor area, location, completion timing, parking, operating cost and future tenant demand.
Why the 2028 Completion Target Matters
AHS Twin Towers has a shorter development horizon than many newly announced commercial towers because the existing structure is being redeveloped rather than built from the ground up.
If the current schedule is maintained, the project could enter the leasing market before a number of larger 2030–2031 office developments.
That may be advantageous if Grade A supply remains tight, but investors should avoid assuming today’s 94% occupancy and double-digit rental growth will remain unchanged through 2028.
New supply, corporate expansion, economic conditions and office demand will all influence the actual rent available at handover.
Commercial Buyers Need to Budget Beyond the Purchase Price
A premium office purchase involves more than the developer’s quoted AED-per-square-foot figure.
DLD registration: Confirm the applicable registration cost and contractual allocation.
VAT: Commercial real estate is generally subject to 5% UAE VAT, subject to transaction structure and VAT status.
Fit-out: Shell-and-core office space can require substantial additional capital before leasing or occupancy.
Service charge: Final recurring building costs need to be deducted from rental income.
Finance: Buyers should confirm how any completion balance will be funded.
Vacancy: Net yield should include realistic leasing periods rather than assume permanent 100% occupancy.
Aurantius’ Dubai Property Tax and Buyer Costs Guide 2026 explains why commercial VAT and acquisition costs require a different calculation from a residential purchase.
What Should Investors Verify Before Reserving an Office?
1. Exact developer-issued unit price and price per sq. ft.
2. Saleable area versus internal usable office area.
3. Current payment schedule rather than an earlier broker sheet.
4. Contractual completion date in the SPA.
5. Parking allocation for the specific office.
6. Delivery condition and expected fit-out cost.
7. Estimated service charge and what amenities it supports.
8. VAT treatment for the particular buyer and transaction.
9. Comparable ready Grade A offices around DIFC and Sheikh Zayed Road.
10. New competing commercial supply expected before and after 2028.
FAQ: AHS Twin Towers Dubai
Question: What is AHS Twin Towers?
Answer: AHS Twin Towers is a Grade A commercial redevelopment by AHS Properties that will transform the former Shangri-La Dubai asset on Sheikh Zayed Road into premium offices and business amenities.
Question: How much is the AHS Twin Towers project worth?
Answer: AHS has announced the redevelopment at approximately $1.3 billion. The underlying Shangri-La Dubai property was acquired earlier in 2026 for AED 1.1 billion.
Question: Who designed AHS Twin Towers?
Answer: International architecture and design firm Gensler is responsible for the architectural transformation, while AHS Atelier is handling the interior design.
Question: How many floors will AHS Twin Towers have?
Answer: AHS’s current launch reporting describes the development as a ground floor plus 49 upper floors. Some market material uses rounded G+50 terminology, so buyers should rely on the approved project documentation for the formal floor count.
Question: What amenities are included?
Answer: Current launch information includes more than 30,000 sq. ft. of wellness and fitness facilities, more than 12,000 sq. ft. of dining space, executive business lounges, a private lap pool, rooftop sky garden and more than 1,000 parking spaces.
Question: When is AHS Twin Towers expected to be completed?
Answer: AHS has said the redevelopment is expected to complete in 2028. Current project-market material commonly indicates Q2 2028 or 30 June 2028, which buyers should confirm against the final SPA.
Question: Is AHS Twin Towers already selling?
Answer: Yes. Abbas Sajwani said more than 30% of the building had already been booked by late October 2026. Exact live availability should be confirmed from the current developer inventory.
Question: What is the AHS Twin Towers payment plan?
Answer: Current market sources are not fully consistent on the instalment schedule. Buyers should therefore rely on the latest developer-issued reservation form and SPA rather than an earlier pre-launch payment-plan advertisement.
Conclusion: AHS Twin Towers Is a Test of Dubai’s Premium Office Repositioning Strategy
AHS Twin Towers is unusual because its investment story begins with an existing landmark rather than an empty development plot.
AHS Properties paid AED 1.1 billion for the Shangri-La Dubai asset and is now repositioning it into a $1.3 billion Grade A commercial development with a new Gensler-designed identity, extensive wellness facilities, premium dining, business lounges and more than 1,000 parking spaces.
The timing is favourable. Dubai’s Grade A office market remains tight, with approximately 94% occupancy in Q2 2026 and double-digit annual rent growth at the time of CBRE’s latest published market review.
The adaptive-reuse model may also allow AHS Twin Towers to reach the market earlier than several newly launched 2030–2031 commercial developments.
But none of those factors removes the need for conventional commercial-property analysis.
A buyer still needs to compare the actual unit price against usable area, parking, fit-out cost, service charges, VAT, competing Grade A supply and realistic 2028 rental levels.
Commercial investor takeaway: AHS Twin Towers has a strong location, an unusually fast redevelopment strategy and a favourable current office-market backdrop. The investment decision should still be based on the exact unit economics. Verify the developer price list, saleable versus usable area, current payment plan, fit-out requirement, parking allocation, service charge and realistic 2028 rent before assigning a premium to the building’s landmark status.
