The founder of the elite developer, Abbas Sajwani, son of billionaire and long-time Trump business partner Hussain Sajwani, acquired an office skyscraper in Dubai in 2024 that had been vacant for ten years. The building is currently undergoing renovation.
The 26-year-old entrepreneur from the UAE, Abbas Sajwani, intends to finish the refurbishment of the office skyscraper in Dubai’s financial district by 2026. It earned the nickname “Big Ben” due to its resemblance to the clock tower of the Palace of Westminster in London, Bloomberg reports.
The structure stood empty for approximately a decade. Its former owner defaulted on debts owed to the Commercial Bank of Dubai, resulting in the bank acquiring the building and selling it in 2024 to Sajwani’s firm, the developer AHS Properties, for $120 million.
The 69-story skyscraper has been renamed AHS Tower. Following the completion of the redevelopment, the edifice will lose the colossal clock face that gave it its moniker. According to Sajwani, about 95% of the floor space in the tower has already been sold, generating $600 million in revenue for the company.
Sajwani also serves on the board of directors of Damac Group, one of Dubai’s largest private developers, established by his father, Hussain Sajwani.
Sajwani Sr. is a billionaire (Forbes estimates his wealth at $10.2 billion) and a long-standing associate of US President Donald Trump. In 2017, Damac constructed a golf club in Dubai in partnership with the Trump Organization. Over the past year, Damac has become a major investor in data centers globally, allocating over $3 billion to projects in Indonesia, Malaysia, Thailand, and Spain. In January, Trump mentioned Sajwani’s plans to put $20 billion into American data centers.
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