Omniyat

Omniyat operates at the very top of the Dubai market, and does something few developers here attempt: it commissions architecture as the product. The Opus was designed by Zaha Hadid Architects, and Omniyat has partnered with Dorchester Collection on branded residences. This is small volume, high value work.

What do they build?

Ultra prime apartments, penthouses and branded residences, in small numbers. We broker 1 off-plan Omniyat project, from AED 69,025,151. We are also marketing 1 completed Omniyat property.

Where do they build?

• Business Bay: 1 property
• Maritime City: 1 property

Business Bay, the Palm, Maritime City and the central waterfront. Location is part of the proposition and there is no mid market Omniyat product.

What should you check before buying?

• Comparables, carefully. At this level there are very few genuinely comparable sales, which makes pricing harder and makes an independent read more valuable, not less.
• Service charges, which on a building with concierge, spa and branded management are among the highest in the city. Get the figure in writing.
• The specific unit, not the building. In ultra prime the difference between two units in the same tower can run to millions. Aspect, floor and ceiling height all matter.
• What the branded management actually provides, and what it costs annually.
• Liquidity. The buyer pool at this level is small. That is not a reason to avoid it, but it should shape how long you expect a sale to take.

Are they a safe developer to buy from?

Their completed buildings are among the most distinctive in Dubai and the record is there. The risks at this end of the market are not about completion. They are about pricing a scarce asset correctly and accepting that selling takes longer. We will tell you honestly what we think a specific unit is worth, including when we think it is too much.