The order is set to be delivered from 2022, with Emirates expecting the planes to remain part of their operating fleet into the late 2030s. The cabins feature leather seats that recline into flat beds and a there is a 32-inch LCD TV.
These virtual windows - which are used in some cruise ships - project the view from outside the aircraft using real-time camera technology.
Each suite has a "service window" where customers can be served food and drink "undisturbed", while a video call function allows passengers to communicate with the cabin crew or request room service.
The 40-square-foot private suites are expected to start at £7,000 ($9,175) one way.
The new Emirates suite is actually inspired by Mercedes-Benz and its iconic S-Class luxury sedan, the airline said.
At the 2017 Dubai Air Show, Emirates revealed the new Boeing 777-300ERs with first class suites estimated to cost over $9000.
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But the suite in the middle also gets its own virtual window that shows the same scenery as the real ones. "This is what we do and we have to be able to take the business on, grow the business", said Emirates President Tim Clark in an interview with CNN.
In addition to the new first class suite, the 777's business and economy class cabins will also receive brand new seats and in-flight entertainment systems.
Emirates reportedly worked with Mercedes-Benz to model the experience after the luxe S-Class, and first class fliers are even treated to Mercedes chauffeur service once they land.
The phase of slow growth for Emirates comes after a blistering expansion that has added 100 A380s and 109 777s to its fleet over the last decade.
The business class cabin.
The termination of the order for 50 A350-900s and 20 -1000s left nothing smaller than the 777-300ER on backlog - an aircraft that seats 354-428 passengers in Emirates' various configurations.
Passengers would see more modern and airy cabins, Clark said.