Dubai’s skyline tells a story of ambition realized, and few have authored more compelling chapters than OMNIYAT. Under the leadership of founder and executive chairman Mahdi Amjad, the company has evolved from a boutique developer into an industry powerhouse that has captured more than one-third of Dubai’s ultra-luxury residential transactions above the $10 million range in 2024.
This remarkable market share reflects not just commercial success, but a fundamental reimagining of what luxury real estate can deliver in an increasingly sophisticated, and highly competitive, marketplace.
The company’s trajectory mirrors Dubai’s own transformation into a global wealth hub. As local and regional entrepreneurs generate unprecedented wealth and international talent seeks secure, lifestyle-driven destinations, OMNIYAT has positioned itself at the intersection of these powerful trends. The developer’s recent forays into commercial real estate with Enara and Lumena, coupled with its groundbreaking $500 million Green Sukuk issuance, signal a new phase of growth that balances expansion with the exclusivity that defines its brand.
Read: OMNIYAT: Elevating exceptional living experiences
Transformation beyond growth
OMNIYAT’s evolution represents more than simple growth, it’s a case study in maintaining creative integrity while scaling operations. “From the outset, our mission has always been to lead Dubai’s ultra-luxury real estate segment by creating rare, one-of-a-kind living experiences,” Amjad explains.
This philosophy has manifested in landmarks that have become synonymous with Dubai’s luxury landscape: The Opus by OMNIYAT, with its void-centered architecture by Zaha Hadid; and One at Palm Jumeirah, which redefined waterfront living standards.
The company’s portfolio reads like a collection of architectural statements than mere developments. The Lana Hotel and Residences, managed by Dorchester Collection, elevated hospitality-integrated living to new heights. Each project shares what Amjad calls “the common thread of design-led innovation,” a principle that has guided the company through its transformation from boutique developer to institutional player.
This growth hasn’t diluted OMNIYAT’s core identity. “While the scale and sophistication of the company have grown, the core philosophy remains unchanged, which is to deliver exceptional, curated living experiences that resonate with our customers,” Amjad continues. The numbers validate this approach: Capturing 37 percent of transactions in Dubai’s $10 million-plus residential segment demonstrates that ultra-high-net-worth individuals continue to trust OMNIYAT’s vision.
Pioneering ultra-luxury commercial properties
The launches of Enara and Lumena mark OMNIYAT’s strategic entry into ultra-luxury commercial real estate, applying residential sensibilities to workplace environments. This isn’t simply about premium office space, it’s about reimagining how global leaders and organizations experience their professional environments.
“What sets these developments apart is not just the architecture, location and specifications, but the holistic gamut of elevated experience they offer,” Amjad emphasizes. The properties feature sky theaters, members’ clubs, wellness suites, and bespoke concierge services — amenities traditionally associated with luxury hospitality than commercial real estate.
This crossover represents a calculated response to evolving workplace dynamics. As companies compete for talent and seek to embody their values through their physical presence, OMNIYAT’s approach offers environments that reflect organizational ambition.
“These are projects designed for leaders,” Amjad says, underlining the target demographic’s expectations for spaces that facilitate not just work, but growth, collaboration, and well-being. The commercial expansion leverages OMNIYAT’s established expertise in creating emotionally resonant environments. By applying the same meticulous attention to detail and user experience that defines its residential projects, the company is establishing new benchmarks for what commercial real estate can deliver in the region.
Green finance meets luxury development
OMNIYAT’s $500 million Green Sukuk issuance in 2024 represents a watershed moment for sustainable luxury development in the Middle East. This wasn’t merely a financing exercise, it was, as Amjad describes it, “both a financial and philosophical statement.”
The strong international demand for the Sukuk reveals shifting investor priorities. Global institutional investors increasingly seek ESG-aligned assets, particularly in high-growth markets. OMNIYAT’s commitment to achieving the highest environmental certifications — LEED Platinum, Al Sa’fat Platinum, WELL Core & Shell, and WiredScore — provided the credibility needed to attract this capital.
“Luxury and sustainability are not mutually exclusive but increasingly intertwined,” Amjad underscores. This philosophy permeates OMNIYAT’s development process, from material selection to energy systems and long-term environmental impact considerations. The Green Sukuk’s success validates this approach, demonstrating that sustainable development can attract premium valuations and institutional investment.
The issuance also marked OMNIYAT’s entry into international debt capital markets, providing a platform for future growth while maintaining the company’s commitment to environmental responsibility.
“We want to deliver elevated experiences with integrity, and value with vision,” Amjad explains, positioning sustainability as integral to long-term value creation than a compliance checkbox.
Redefining waterfront luxury at Marasi Bay
Marasi Bay by OMNIYAT exemplifies the company’s ability to create comprehensive lifestyle ecosystems. Commanding a strategic position in the Burj Khalifa District, the project brings waterfront living to Dubai’s most prestigious address — a geographic impossibility transformed into reality through vision and investment.
The development’s centerpiece — a 30,000-square-foot private floating island called Sunset Park — demonstrates OMNIYAT’s understanding of modern luxury priorities. Beyond traditional amenities, it features sensory and meditation gardens, a yoga terrace, and specialized spaces for community building. This reflects a broader shift in UHNWI preferences toward wellness, privacy, and meaningful experiences.
The residential component, anchored by VELA Viento designed by Foster + Partners, showcases architectural innovation with 95 residences featuring suspended dining rooms and terrace pools at heights exceeding 100 meters. Under Dorchester Collection management, the property promises “effortless luxury where private ownership meets impeccable hotel-standard service,” according to Amjad.
Marasi Bay Marina adds another dimension, accommodating superyachts and offering an exclusive yacht club. The integration of these elements — residential, hospitality, marina, and wellness — creates what Amjad calls “the ultimate celebration of waterfront living,” powered by Dubai’s momentum and OMNIYAT’s execution capabilities.
Understanding the ultra-luxury buyer evolution
Today’s ultra-high-net-worth individuals demand far more than premium finishes and prestigious addresses. “They want meaningful spaces that reflect their values and support their lifestyle,” Amjad observes. This insight drives OMNIYAT’s approach to amenity curation and design philosophy.
The company has responded with innovations like private docks, residents-only wellness sanctuaries, and seamless smart home integration. But beyond physical amenities, OMNIYAT focuses on creating environments that foster privacy, creativity, and well-being. The emphasis on certifications including WELL, SmartScore, and WiredScore reflects an understanding that today’s luxury buyers are sophisticated consumers who expect homes that enhance their health and productivity.
Biophilic design, advanced air filtration systems, and state-of-the-art digital infrastructure have become baseline expectations than differentiators. OMNIYAT’s response has been to integrate these elements from conception rather than as afterthoughts, ensuring that sustainability and wellness are embedded in the architectural DNA of each project.
This evolution in buyer expectations has also influenced OMNIYAT’s approach to community building within its developments. The company creates spaces that facilitate organic interactions among residents while maintaining the privacy that this demographic values, striking a delicate balance that few developers manage successfully.
Dubai’s wealth magnetism and market dynamics
Dubai’s emergence as a global wealth hub reflects broader economic and geopolitical shifts. “Dubai sits at the intersection of capital, connectivity, and confidence,” Amjad notes, identifying the three pillars supporting the emirate’s continued growth. Regional wealth creation, particularly among first- and second-generation entrepreneurs across the Middle East, South Asia, and Africa, provides a steady stream of buyers seeking trophy assets.
Simultaneously, global migration patterns favor cities offering security, favorable tax regimes, and sophisticated lifestyle infrastructure — advantages Dubai has cultivated. The city’s geographic position, connecting East and West, compounds these advantages. As Amjad observes, “Talent and capital are flowing into cities that offer security, lifestyle, and long-term vision. Dubai delivers on all fronts.”
This confluence of factors has created sustained demand for ultra-luxury properties, with OMNIYAT positioned to capture a significant share. The market’s maturity is evidenced by increasingly sophisticated buyer behavior.
“For investors, the key is always quality: Selecting the right locations, trusted brands, and developers with a proven track record,” Amjad explains. This flight to quality benefits established players like OMNIYAT while raising barriers to entry for newcomers attempting to penetrate the ultra-luxury segment.
Strategic discipline in site selection and development
OMNIYAT’s consistent ability to achieve record-breaking sales and valuations stems from a disciplined approach to development that prioritizes legacy over speed. “At the heart of every OMNIYAT project lies a fundamental question: What legacy will we leave behind?” Amjad reveals.
Site selection follows strict criteria focusing on scarcity and narrative potential. Each location must offer unique transformation opportunities or possess inherent, enduring value. This patience in identifying the right opportunities, instead of pursuing available sites, distinguishes OMNIYAT’s portfolio. Once sites are secured, the company partners with renowned architects and designers — from Zaha Hadid to Foster + Partners — to create culturally significant spaces.
“Our developments are designed to be culturally significant and emotionally powerful,” Amjad states, emphasizing the importance of creating environments that resonate beyond their functional purpose.
Timing represents another crucial element. OMNIYAT launches projects only when three factors align: A refined product, a compelling narrative, and optimal market demand. This strategic patience, while potentially sacrificing short-term opportunities, ensures that each launch maximizes both immediate success and long-term value appreciation.
Growth through selective expansion
As OMNIYAT looks forward to future growth, the strategy emphasizes quality over quantity. “Expansion, for us, is not about achieving scale through volume but about identifying and developing exceptional opportunities that align with our exacting standards,” Amjad clarifies.
The company’s vision encompasses both ultra-luxury residences and sophisticated mixed-use developments where design excellence intersects with strategic investment. These environments represent more than real estate — they are destinations where lifestyle, artistry, and commerce converge.
The ultra-luxury segment’s evolution from niche to essential market category creates opportunities for OMNIYAT to expand while maintaining exclusivity.
As Amjad notes, “As the region solidifies its position as a magnet for global wealth, the appetite for highly differentiated, experience-driven properties will continue to intensify.” This growth strategy acknowledges that true exclusivity cannot be mass-produced. By maintaining rigorous project selection and execution standards, OMNIYAT ensures that expansion enhances brand value — a balance many luxury developers struggle to achieve.
The OMNIYAT differentiator
In Dubai’s increasingly competitive ultra-luxury market, OMNIYAT’s differentiation stems from its holistic approach to development. While competitors may match individual elements — location, design, or amenities — few combine all elements with OMNIYAT’s consistency.
The company’s entry into capital markets through the Green Sukuk adds another differentiator: Institutional credibility. This financial sophistication, combined with design excellence and sustainability leadership, creates multiple barriers to competition.
“Companies who continue to innovate and stay connected to global buyer trends will lead the next phase of growth in this dynamic market,” Amjad predicts.
OMNIYAT’s investment in understanding evolving buyer preferences, from wellness integration to sustainable design, positions it to maintain leadership as the market matures. The company’s track record of delivering both immediate returns and long-term value appreciation creates a virtuous cycle. Successful projects enhance brand equity, attracting premium buyers for future developments and enabling OMNIYAT to secure prime sites and world-class design partners.
Shaping Dubai’s luxury real estate future
OMNIYAT’s journey from boutique developer to market leader parallels Dubai’s own evolution into a global luxury destination. The company’s expansion into commercial real estate, pioneering sustainable finance initiatives, and continued innovation in residential development position it at the forefront of the emirate’s next phase of growth.
As Amjad reflects on OMNIYAT’s trajectory and future, his vision remains focused on creating lasting value: “Dubai’s evolution shows no signs of slowing, and OMNIYAT will continue to respond by creating unique residential and commercial spaces that match the city’s upward trajectory,” he adds.
The company’s success demonstrates that in ultra-luxury real estate, differentiation through design excellence, sustainability leadership, and deep market understanding creates sustainable competitive advantages. As global wealth continues flowing into Dubai, OMNIYAT’s commitment to creating meaningful contributions to the urban landscape and lasting legacies for future generations ensures its position at the apex of the market.
For investors, residents, and market observers, OMNIYAT represents more than a developer — it’s a bellwether for Dubai’s luxury real estate market and a standard-bearer for what the intersection of design, sustainability, and luxury can achieve in the 21st century.
As the company writes its next chapter, from commercial expansion to new residential landmarks, it continues to shape not just Dubai’s skyline but the very definition of ultra-luxury living in an evolving global landscape.
