MERED Achieves 3 Million Safe Man-Hours at ICONIC Residences

DUBAI, UAE – 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 significant construction milestone after 80 weeks of continuous site activity.

The project, designed by Pininfarina, represents the renowned Italian design house's first branded residential development in the Middle East and remains on track as construction progresses.

ICONIC Residences has now reached Level 31, rising approximately 140 metres above ground level. Construction activity continues across multiple areas of the development, with MEP installations on Tier 1 residential floors nearing completion alongside ongoing blockwork, wall erection, and fit-out works.

The project's first in-place mock-up apartment is advancing towards white box completion, with wall finishing and painting completed and ceiling closure works currently underway.

Meanwhile, curtain wall and façade installation works have commenced on the lower floors, marking another key stage in the tower's development and bringing the building closer to its final architectural form.

Commenting on the milestone, Michael Belton, CEO of MERED, said:

“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-storey ultra-luxury residential tower is being developed as a prominent addition to Dubai's skyline. Inspired by the fluid movement of dunes and ocean waves, ICONIC Residences will comprise 310 luxury residences alongside a signature two-level penthouse.

Residents will have access to a range of amenities including infinity pools, wellness and ice-spa facilities, a padel court, family areas, residents' lounges, luxury retail offerings, and air-conditioned parking bays.

Strategically located, the development will offer views across Dubai while providing connectivity to Palm Jumeirah, Dubai Harbour, Downtown Dubai, Bluewaters Island, Emirates Golf Club, and Sheikh Zayed Road.

The milestone comes as Dubai's real estate sector continues to record strong growth. According to Dubai Land Department data, the emirate registered $68.6 billion (AED252 billion) in real estate transactions during the first quarter of 2026, representing a 31% increase compared to the same period last year.

The market attracted more than 29,000 new investors during the quarter, while foreign investment exceeded $38.1 billion (AED140 billion). Luxury real estate investment also increased by 26% to approximately $21.8 billion (AED80 billion), reflecting sustained demand for premium developments across the emirate.

ICONIC Residences is being delivered by an international team of consultants and specialists, including Pininfarina, Hirsch Bedner Associates (HBA), SERA Group, Currie & Brown, Bond Interiors, and other industry partners.

With construction continuing to advance, MERED remains focused on maintaining safety standards, quality execution, and delivery performance across one of Dubai's most distinctive ultra-luxury residential developments.