Creek Tower tender pushed back as costs shift

Emaar Properties has pushed back the tendering process for Dubai Creek Tower by about three to four months, delaying the next major step in one of Dubai’s most closely watched landmark projects as port closures disrupt construction-material costs and pricing assumptions.

The postponement affects the main tender for the redesigned tower at Dubai Creek Harbour, a project that has been on the market’s radar since its original launch and later redesign. Emaar founder Mohamed Alabbar was quoted as saying the company had decided to wait because closures at ports had affected material costs, making it difficult to price the construction package with confidence.

The delay marks a shift from expectations set earlier this year, when the developer indicated that a tender for the tower could be issued within about three months. That timetable had raised hopes that the project, paused for years after early foundation works and subsequent design revisions, was moving towards a fresh construction phase in 2026.

Dubai Creek Tower was conceived as the centrepiece of Dubai Creek Harbour, Emaar’s waterfront district near Ras Al Khor. The tower was originally designed by Santiago Calatrava and promoted as a structure that would extend Dubai’s reputation for record-setting architecture beyond Burj Khalifa. Foundation work had already reached a significant stage before the project was slowed, with more than 145 barrette piles used for the base.

The project has undergone substantial reassessment since its first unveiling. Emaar moved away from the earlier height-led narrative and indicated that the revised design would focus more strongly on architectural value, visitor experience and the wider appeal of Dubai Creek Harbour. The redesigned scheme has not been fully disclosed, and the company has yet to announce final height, cost, contractor shortlist or completion timetable.

The tender delay comes as contractors across the region factor higher uncertainty into bids for large projects. Port closures and shipping disruptions can alter the cost of steel, mechanical systems, façades, specialist equipment and imported finishing materials, all of which are critical to a complex tower package. For a project of this scale, even limited volatility can affect bid validity periods, procurement schedules and risk premiums.

Developers have become more cautious about launching large construction packages when supply-chain conditions are unstable. Contractors are also less willing to absorb price fluctuation on long-duration jobs without contractual protection. That has made pricing clauses, procurement lead times and material escalation mechanisms more important in negotiations for megaprojects.

Emaar remains one of Dubai’s strongest real estate developers, with large revenue visibility from its development pipeline. Emaar Development recorded AED 6.9 billion in revenue in the first quarter of 2026, up 36 per cent year on year, while its revenue backlog stood at AED 134.6 billion at the end of March. Parent-level property sales also remained strong, supported by demand across master-planned communities and branded residential assets.

The company’s 2025 performance underlined its capacity to carry large projects through market cycles. Property sales at Emaar Development reached AED 71.1 billion during the year, while revenue rose to AED 27.5 billion and net profit before tax climbed to AED 15.5 billion. The figures give the developer flexibility, but the Creek Tower tender shows that even major balance sheets are not immune to supply-chain pricing pressure.

Dubai’s property market entered 2026 with strong momentum. First-quarter real estate transactions reached AED 252 billion, with transaction value up 31 per cent year on year and volume up 6 per cent. The market continues to benefit from population growth, business migration, tourism, wealth inflows and government efforts to deepen the emirate’s appeal as a residential and investment hub.

At the same time, developers face more scrutiny over project timing. Buyers and investors are watching delivery schedules closely as the city’s pipeline expands. Contractors are balancing demand from residential, hospitality, infrastructure and mixed-use developments, while specialist suppliers are adjusting prices amid uncertainty in global trade routes.

Dubai Creek Tower carries symbolic weight beyond its construction value. It is tied to Emaar’s broader strategy for Dubai Creek Harbour, a district intended to complement Downtown Dubai and support the city’s long-term urban growth. The tower’s revival would strengthen the area’s identity, improve visitor pull and reinforce the master development’s positioning against other waterfront communities.