Dubai, UAE – Emaar Properties has announced the resumption of the Dubai Creek Tower project, under a new development plan that focuses on architectural value
and long-term visual identity, rather than pursuing record-breaking height.
This announcement comes after more than a decade of delays since the project’s initial unveiling in 2016.
The tower, designed to be an iconic counterpart to the Burj Khalifa, is part of the Dubai Creek Harbour master plan.
Mohamed Alabbar, Chairman of Emaar, explained that the company will launch a new tender for the tower’s construction
within the next three months, emphasizing aesthetic design and advanced architectural functionality.
Speaking at the Dubai International Project Management Forum, Alabbar added that the project is central
to the development of Dubai Creek Harbour, the massive waterfront community
that has consistently attracted investors and buyers over the years.
The project cost $49 billion
The Dubai Creek Harbour project spans 11 million square meters, three times the size of Downtown Dubai,
with a total development cost of approximately AED 180 billion (USD 49 billion),
making it one of the largest urban development projects in the emirate.
As of September 2025, more than 10,500 residential units had been delivered,
with plans to deliver an additional 7,200 units by 2029,
in parallel with the progress of the remaining project components,
including the 2.6 million square meter Dubai Square.
The real estate market has matured
In the real estate market, Dubai Creek Harbour saw a 1% increase in the number of transactions last year,
with an average price per square foot of AED 2,470. Prices rose by 3% compared to the previous year, reflecting continued demand for luxury residential units in the area.
Experts noted that the revival of major projects reflects the maturity of Dubai’s real estate market and supports the long-term value of iconic landmarks.
Furthermore, it enhances the area’s appeal with the introduction of new units to the market,
ensuring sustained demand and a balance between supply and demand.
