Dubai developer AHS Properties has unveiled plans to transform the Shangri-La hotel, a Sheikh Zayed Road landmark for more than two decades, into a $1.3 billion Grade-A office development named AHS Twin Towers.
The redevelopment follows AHS Properties' Dh1.1 billion acquisition of the hotel asset earlier this year. Founder and chief executive Abbas Sajwani said more than 30 per cent of the building has already been booked ahead of launch, with completion targeted for 2028.
The new complex will comprise a ground floor plus 49 upper floors, designed by global architecture firm Gensler, with interiors handled by AHS Properties' in-house studio, AHS Atelier. The development will include full-floor office spaces of about 16,000 square feet, wellness and fitness facilities spanning more than 30,000 square feet, dining areas exceeding 12,000 square feet, and more than 1,000 parking spaces.
Sajwani said office yields in Dubai remain "excellent," with occupancy across the company's existing office portfolio running above 95 per cent. AHS Twin Towers builds on the success of AHS Tower, the firm's first Grade-A office project, which sold out for more than $700 million during construction. According to property consultancy CBRE, Dubai's office occupancy stood at roughly 94 per cent in the second quarter of 2026, with average office rents up 13 per cent year-on-year and prime rents rising 16 per cent, underscoring strong demand for premium commercial space in the emirate.