MERED reports 3 million safe man-hours at ICONIC Residences as Dubai luxury property market sustains growth
Dubai, UAE – 23 June 2026: MERED, the award-winning international real estate developer, has achieved 3 million safe man-hours without a lost time injury (LTI) at ICONIC Residences Design by Pininfarina, marking a major construction milestone after 80 weeks of continuous site activity. The project, designed by Pininfarina, represents the iconic design firm’s first branded residential development in the Middle East and remains on track.
ICONIC Residences continues to rise at an impressive pace, with the tower now reaching Level 31 and standing approximately 140 metres above ground. On the Tier 1 residential floors, MEP installations are nearing completion, alongside ongoing blockwork, wall erection, and fit-out activities across multiple levels, reflecting steady coordination across the site. The first in-place mock-up apartment is progressing towards white box completion, with walls finished and painted, while ceiling closure works are underway. This month also marks the commencement of curtain wall and façade installation works on the lower floors, bringing the building closer to its final architectural expression.
Michael Belton, CEO of MERED, commented: “Safety is fundamental to our approach. We are committed to delivering the project efficiently without compromising the well-being of the people who make it possible. This extends beyond the construction site to labour accommodation, where, together with our partners, we continuously monitor and uphold high standards to ensure every person is treated with the respect and care they deserve. The true foundation of every great development is its people.”
The G+66-floor ultra-luxury residential tower is set to become a defining architectural landmark in Dubai’s skyline. Inspired by the fluidity of dunes and ocean waves, ICONIC Residences will comprise 310 premium residences and a signature two-level penthouse, supported by a curated range of amenities including infinity pools, wellness and ice-spa facilities, a padel court, residents’ lounges, family zones, luxury retail spaces, and air-conditioned parking bays. Its strategic location provides breathtaking views of Dubai’s landmarks and direct access to Palm Jumeirah, Dubai Harbour, Downtown, Bluewaters Island, Emirates Golf Club, and Sheikh Zayed Road.
The milestone comes amid continued strength in Dubai’s real estate sector. According to data released by the Dubai Land Department (DLD), the emirate recorded AED 252 billion in real estate transactions during the first quarter of 2026, representing a 31% increase in value compared to the same period last year. The market attracted over 29,000 new investors during the quarter, while foreign investment surpassed AED 140 billion. Luxury real estate investments also grew by 26% to approximately AED 80 billion, reflecting sustained demand for premium developments and reinforcing Dubai’s position as a leading global destination for high-end property investment.
ICONIC Residences is backed by a global team of consultants and specialists, including Pininfarina, Hirsch Bedner Associates (HBA), SERA Group, Currie & Brown, Bond Interiors, and other industry leaders, ensuring precision and quality across every stage of delivery.
With construction advancing steadily toward completion, MERED continues to prioritise safety, quality, and performance while maintaining momentum on one of Dubai’s most distinctive ultra-luxury residential towers.
END