26 September 2026
Main construction has started on the commercial tower that Aldar bought in Dubai International Financial Centre (DIFC) in December 2024 for AED 2.3 billion. The developer H&H received final approval of the building permit, awarded the main construction contract to Dubai Contracting Company and has completed piling and site enabling works; the raft foundation is now being built. Completion is scheduled for the second quarter of 2028: 37 floors of office and commercial space with more than 60,000 sq m (about 646,000 sq ft) of Grade A offices, including 3 floors of fully furnished offices. The update was reported by Al Bayan in its 26 September 2026 edition.
What was announced
| Parameter | Detail |
|---|---|
| Project | Commercial tower in DIFC, part of an integrated mixed-use development |
| Owner | Aldar, which bought the tower from H&H Development in December 2024 for AED 2.3 billion (about USD 626 million) |
| Developer running the works | H&H |
| Main contractor | Dubai Contracting Company |
| Permit | Final approval of the building permit received |
| Status | Site enabling works complete, including piling; raft foundation under way |
| Floors | 37 floors of office and commercial space |
| Grade A office space | More than 60,000 sq m (about 646,000 sq ft) |
| Furnished offices | 3 floors of fully furnished offices |
| Completion | Scheduled for Q2 2028 |
According to Al Bayan, the tower stands on one of the last plots still available for development inside DIFC. The move from enabling works to the main works followed two approvals: the final building permit and the award of the main construction contract. Once the raft foundation is complete, the project moves to the next phase of construction.
Miltos Bosinis, Chief Executive Officer of H&H, said that strong partnerships create sustainable value and that the partnership with Aldar rests on a shared vision of developing landmark projects that support the long-term growth of Dubai (quote translated from Arabic).
How the tower got here: the 2024 deal
Aldar, the Abu Dhabi developer, announced the purchase in December 2024. It valued the deal at AED 2.3 billion and described it as one of the largest commercial tower acquisitions registered in DIFC. The seller, H&H Development, is behind the Four Seasons Hotel DIFC and the Janu Hotel and Residences, which sits next to the tower.
The 2024 announcement set out the main parameters of the building:
- design by the architectural firm Herzog & de Meuron;
- a target of LEED Platinum certification;
- flexible floorplates that tenants can customise, with a mix of multi-tenant and single-tenant floors;
- direct access to Sheikh Zayed Road;
- completion in 2028.
In December 2024 the tower was described as commercial and retail space across 40 floors. The September 2026 update gives 37 floors of office and commercial space. The sources do not explain the difference, so we quote both figures as published. The completion date is consistent: 2028 in the original announcement, the second quarter of 2028 now.
At the time of the deal Aldar said the purchase made it the only UAE developer with commercial assets in both ADGM and DIFC, the country’s two financial centres. The tower followed its earlier moves into the Dubai commercial market: the acquisition of 6 Falak, the development of a Grade A office tower on Sheikh Zayed Road and a mixed-use joint venture with Expo City Dubai. Talal Al Dhiyebi, Group Chief Executive Officer of Aldar, linked the purchase to sustained demand for high-quality office space. The same announcement cited a 15% year-on-year rise in average Grade A rents in DIFC.
Why new Grade A space in DIFC matters
The results of DIFC for the first half of 2026, published by the Government of Dubai Media Office on 28 July 2026, show where the demand comes from:
- active registered companies reached 10,018, the first time the Centre passed 10,000;
- 2,318 new active registered companies joined, organic growth of 30% over 12 months;
- regulated financial services firms grew 16% to 1,134, including 327 banks and capital markets firms, 165 insurance and reinsurance entities and 592 wealth and asset management firms;
- the DIFC Innovation Hub added 361 companies in the half year, taking AI, FinTech and innovation companies to 1,933;
- DIFC Square, with 600,000 sq ft of space, was 100% pre-leased ahead of completion, and the launch of the DIFC Zabeel District marked a milestone in the Centre’s expansion.
For scale, the more than 60,000 sq m of Grade A offices in the Aldar tower is about 646,000 sq ft, comparable to the whole of DIFC Square. Across Dubai, JLL put office vacancy at a record low of 6.1% in the second quarter of 2026, as we covered in our analysis of the Dubai and Abu Dhabi office market.
What it means for companies planning an office in DIFC
The tower changes nothing for a company that needs a DIFC address this year or next: its space arrives in the second quarter of 2028 at the earliest, if the schedule holds. It matters for firms that expect to grow into a larger office over the next two to three years.
- Timing. Companies setting up in DIFC in 2026 and 2027 work with the existing stock. New buildings in the Centre are being taken before completion: DIFC Square was fully pre-leased ahead of handover. A firm that wants space in a 2028 building has to define its requirement well before the building opens.
- Furnished space. Three floors of the tower will be fully furnished offices. For the regional office of a foreign group, a ready office shortens the move-in time compared with space that needs a full fit-out.
- Lease rules. Office leases in DIFC fall under the DIFC Leasing Law (DIFC Law No. 1 of 2020) and are registered with the DIFC Registrar of Real Property through the DIFC portal. The same registrar administers the DIFC Real Property Law and the Strata Title Law.
Rents, service charges and leasing terms for the Aldar tower have not been published, and we do not estimate them. The choice of jurisdiction comes before the lease: DIFC, another free zone and the mainland each have their own licensing and office rules, and our comparison of mainland and free zone companies sets out the differences.
Checklist: planning an office in DIFC
- Fix the headcount and the date you need the office: 2026 and 2027 mean existing buildings, 2028 and later opens new supply such as the Aldar tower.
- Choose the licence route before signing a lease: DIFC, another free zone or the mainland.
- If the business provides financial services, plan the DFSA authorisation alongside the office search.
- Decide between furnished space and space that needs a fit-out, and budget the fit-out, service charges and deposit.
- Check that the lease will be registered with the DIFC Registrar of Real Property.
- Line up the corporate bank account and employee visas, which both rely on the licence and the company documents.
How Atlant Capital can help
We help founders and foreign groups set up in the UAE and choose between DIFC, other free zones and the mainland based on their activity, headcount and budget.
- Company setup: licence, registration and the documents each jurisdiction requires.
- Bank account opening: preparing the KYC file for a corporate account.
- Work visas and residency for founders and staff.
For the full sequence of steps, see our guide to company formation in the UAE. If you are weighing buying property rather than leasing it, start with how UAE banks lend against real estate in our guide to mortgages in the UAE for residents and non-residents. For another example of who is moving into DIFC, read our piece on Carmignac opening its first Middle East office in DIFC.
Conclusion
The Aldar tower in DIFC has moved from a 2024 transaction to an active construction site: final permit issued, main contractor appointed, piling complete and the raft foundation under way. If the programme holds, more than 60,000 sq m of Grade A offices, 3 floors of them fully furnished, reach the market in the second quarter of 2028. For companies the practical point is timing: new space in DIFC is being taken before completion, so an office plan for 2028 has to be worked out well in advance.
Source: Al Bayan.
FAQ
When will the Aldar tower in DIFC be completed?
Completion is scheduled for the second quarter of 2028. H&H announced the start of main works in September 2026 after it received final approval of the building permit and awarded the main construction contract to Dubai Contracting Company. Piling and site enabling works are complete and the raft foundation is being built.
How big is the Aldar DIFC tower?
The tower has 37 floors of office and commercial space with more than 60,000 sq m, about 646,000 sq ft, of Grade A offices, including 3 floors of fully furnished offices. It is part of an integrated mixed-use development. According to the 2024 announcement, it is designed by Herzog & de Meuron and targets LEED Platinum certification.
How much did Aldar pay for the DIFC tower?
Aldar bought the tower from H&H Development in December 2024 for AED 2.3 billion, about USD 626 million. Aldar described it as one of the largest commercial tower acquisitions registered in DIFC and said the deal made it the only UAE developer with commercial assets in both ADGM and DIFC.
How are office leases registered in DIFC?
Leases of property in DIFC fall under the DIFC Leasing Law, DIFC Law No. 1 of 2020, and are registered with the DIFC Registrar of Real Property through the DIFC portal. The registrar also handles lease assignments, variations and terminations and administers the DIFC Real Property Law and the Strata Title Law.
