Damac Canal Heights 2

DAMAC Canal Heights 2 is a 44-storey luxury waterfront residential tower by DAMAC Properties, rising from the Dubai Canal waterfront in Business Bay with De Grisogono-designed interiors inspired by the brilliance of Blue Topaz. The prestigious Swiss luxury jewellery brand De Grisogono has shaped every aspect of the tower's design and decor, from vibrant hues and graceful textures to seamless forms, creating interiors that embody the allure of an underwater pearl. Canal Heights 2 offers studios, 1 and 2-bedroom apartments, and ultra-luxurious 3 and 4-bedroom super luxury duplexes, each with spectacular Dubai Canal and Downtown skyline views through expansive floor-to-ceiling windows. The curving high-rise exterior captures the movement of water, while a shimmering infinity pool, beauty parlour, designer cafe, and outdoor terraces create a pampered resort-in-the-city lifestyle at the heart of Business Bay. Average sale prices in Business Bay have increased by 11.3% year-on-year with 10,790 transactions recorded, making Canal Heights 2 one of the most strategically timed luxury launches in the district.

• Unit Types: Studio, 1BR, 2BR Apartments, 3BR and 4BR Super Luxury Duplexes

• Starting Price: AED 1,230,000

• Payment Plan: 80/20

• Handover: Q3 2027

• Building Height: 44 Floors on Dubai Canal Waterfront, Business Bay

• Design Partner: De Grisogono, Prestigious Swiss Luxury Jewellery Brand

• Design Concept: Blue Topaz Inspiration, Underwater Pearl Elegance, Vibrant Hues and Graceful Textures

• Views: Dubai Canal, Downtown Dubai Skyline, Burj Khalifa

• Full Floor Discount: Additional 2% Discount for Full Floor Purchases

• Developer: DAMAC Properties, Listed Developer, 48,000 Plus Homes Delivered

• Only De Grisogono-designed residential tower in Business Bay, Blue Topaz-inspired interiors creating a collectible branded asset

• 44-storey tower on Dubai Canal waterfront, with every unit offering Dubai Canal, Downtown Dubai or Burj Khalifa views

• Business Bay prices rose 11.3% year-on-year with 10,790 transactions, one of Dubai's most liquid residential markets

• Dubai Canal-facing units command 15 to 25% premium above standard Business Bay product on both resale and rental

• Super luxury 3 and 4-bedroom duplexes with double-height living represent scarce large-format waterfront product in Business Bay

• Business Bay Metro Station at walking distance ensuring near-zero vacancy for corporate and professional tenants

• Business Bay Metro directly connects to Downtown, Dubai Mall, DIFC and Dubai Airport

• Gross rental yields of 6% to 8% with De Grisogono and canal-view positioning for premium rates above standard Business Bay towers

• Highly favourable 80/20 plan with only 20% at Q3 2027 handover, among the lowest balloon requirements in Business Bay

• Additional 2% discount for full floor purchases, ideal for institutional investors

• AED 750K Plus for UAE 2-Year Property Investor Visa, AED 2M Plus for UAE 10-Year Golden Visa

• DAMAC Properties, listed on Dubai Financial Market, 48,000 plus homes delivered since 2002

• Freehold ownership, 100% foreign ownership permitted, zero income tax and zero capital gains tax

• On the Dubai Canal Waterfront in Business Bay, One of Dubai's Most Dynamic and Connected Districts

• Downtown Dubai and Burj Khalifa 5 Minutes Walk or Drive

• Dubai Mall 5 to 10 Minutes Walk or Drive

• Dubai Fountain Walking Distance

• DIFC 5 to 10 Minutes Drive

• Sheikh Zayed Road (E11) Direct Access

• Al Khail Road (E44) Within 5 Minutes

• Business Bay Metro Station Walking Distance

• Dubai Opera 10 Minutes Walk

• City Walk 10 Minutes Drive

• Dubai Canal Waterfront Promenade Walking Distance

• Dubai International Airport (DXB) 20 Minutes Drive

• Dubai Marina 25 Minutes Drive

• Palm Jumeirah 25 Minutes Drive

• Al Maktoum International Airport (DWC) 35 Minutes Drive

DAMAC Canal Heights 2 delivers a curated luxury amenity programme designed to complement the Blue Topaz and De Grisogono aesthetic throughout, with every facility crafted to match the sophistication and sparkle of the tower's jewellery-inspired interiors.

• Shimmering Infinity Pool with Panoramic Downtown Dubai and Dubai Canal Views

• Large Outdoor Terrace with Recreation and Leisure Zones

• Multiple Indoor and Outdoor Lounge Areas with De Grisogono Design Language

• Luxury Beauty Parlour

• Designer Cafe with Panoramic Floor-to-Ceiling Windows Overlooking Dubai Canal

• State-of-the-Art Gymnasium and Fitness Facilities

• Kids Play Area

• F&B Dining Outlets Within the Complex

• Retail Outlets

• Concierge and Lifestyle Services

• Smart Home Technology Throughout

• 24/7 Security with Smart Building Access

• Dedicated Underground Parking per Unit

• Expansive Floor-to-Ceiling Windows with Dubai Canal and Burj Khalifa Views from All Units

• Studio - 44 Floors, 1 Bathroom, Parking: 1 Space, Dubai Canal or City Views, Price AED 1,230,000

• 1BR Apartment - 44 Floors, 1 Bedroom, 1-2 Bathrooms, Parking: 1 Space, Dubai Canal and Downtown Views, Price AED 1,994,000 Plus

• 2BR Apartment - 44 Floors, 2 Bedrooms, 2-3 Bathrooms, Parking: 1 Space, Panoramic Dubai Canal and Burj Khalifa Views, Price AED 3,419,000 Plus

• 3BR Super Luxury Duplex - Upper Floors, 3 Bedrooms, Double-Height Living, Private Terrace, Parking: 2 Spaces, Panoramic Canal and Skyline Views, Price on Request

• 4BR Super Luxury Duplex - Upper Floors, 4 Bedrooms, Double-Height Living, Private Terrace, Parking: 2 Spaces, Panoramic 360-Degree Canal and City Views, Price AED 5,000,000 Plus

• Payment Plan: 80/20

• On Booking: 20%

• During Construction: 60% in staged milestone-based instalments

• On Handover: 20% (Q3 2027)

Market Snapshot

• Business Bay average sale prices increased by 11.3% year-on-year with 10,790 transactions recorded over the past 12 months

• Average transacted price in Business Bay is approximately AED 2.8M, with Canal Heights 2 entering at competitive pricing for the district

• Dubai Canal waterfront properties command a 15 to 25% premium above standard Business Bay product due to canal-facing views and lifestyle positioning

• De Grisogono designer-branded interiors create a collectible asset with brand premium above standard Business Bay towers

• Business Bay Metro Station at walking distance ensures maximum tenant appeal for corporate and professional renters

• DAMAC Properties listed on Dubai Financial Market with 48,000 plus homes delivered, providing highest-tier delivery confidence

Rental Yield

• Business Bay luxury apartments tracking gross yields of 6% to 8% as of Q1 2026

• Studio at AED 1.23M estimated gross annual rental income of AED 73,800 to AED 98,400 at 6% to 8% yield

• 1BR at AED 1.99M estimated gross annual rental income of AED 119,400 to AED 159,200 at 6% to 8% yield

• 2BR at AED 3.42M estimated gross annual rental income of AED 205,200 to AED 273,600 at 6% to 8% yield

• De Grisogono interiors, Dubai Canal views and Business Bay Metro at doorstep position Canal Heights 2 for premium rental rates above standard Business Bay product

• Corporate professional and HNWI tenant demand from Downtown Dubai, DIFC and Business Bay financial district ensures near-zero vacancy

Capital Appreciation

• Business Bay prices rose 11.3% year-on-year with consistent transaction volume growth

• Dubai Canal-facing units command the strongest resale premiums in the Business Bay and Downtown corridor

• De Grisogono branded interiors add collectible premium above standard Business Bay towers at resale

• 80/20 plan with only 20% at Q3 2027 handover means buyers gain maximum appreciation during construction while minimising capital outlay

• Super luxury 3BR and 4BR duplexes represent scarce large-format Business Bay waterfront product with strong institutional buyer appeal

• Business Bay is virtually built-out with very limited new land, ensuring permanent supply scarcity for premium waterfront product

Price Per Sqft Value

• At AED 1.23M starting for a De Grisogono-designed studio with Dubai Canal views in Business Bay, entry pricing is highly competitive for the district

• Business Bay average transacted price of AED 2.8M confirms strong demand and resale depth for Canal Heights 2 product

• 80/20 plan with only 20% at Q3 2027 handover is among the most favourable balloon structures of any Business Bay launch

• Full floor buyers receive an additional 2% discount, enhancing institutional investment value significantly

Key Risk to Note

• 20% at Q3 2027 handover requires mortgage planning from mid-2025 at the latest

• UAE residents access up to 80% LTV mortgages, non-residents up to 50% LTV

• UAE banks offer off-plan pre-approval up to 24 months in advance of handover

• Business Bay has a large existing apartment supply, making unit selection (canal-facing, high floor, De Grisogono interiors) important for premium resale positioning

• A minimum 2 to 4 year hold post-handover recommended for full appreciation capture

Q1. What makes Canal Heights 2 unique in Business Bay?

Canal Heights 2 is the only De Grisogono-designed residential tower on the Dubai Canal waterfront in Business Bay. The Swiss luxury jewellery brand's Blue Topaz-inspired interiors with vibrant hues, graceful textures and underwater pearl design elements create an aesthetic found nowhere else in the district. Super luxury 3 and 4-bedroom duplexes with double-height living and panoramic canal and Burj Khalifa views represent the most exclusive large-format product in Business Bay.

Q2. How do I handle the 20% payment at handover in Q3 2027?

Start mortgage pre-approval from mid-2025. UAE residents access up to 80% LTV, non-residents up to 50% LTV. With only 20% at handover, Canal Heights 2 has one of the lowest balloon requirements of any Business Bay launch. The 60% construction instalments are spread across milestones to Q3 2027.

Q3. Will property values appreciate?

Yes. Business Bay prices rose 11.3% year-on-year with 10,790 transactions. Dubai Canal-facing units command 15 to 25% premiums above standard Business Bay product. De Grisogono branded interiors add a collectible premium. Only 20% at Q3 2027 handover means buyers gain full construction-period appreciation with minimal capital deployment.

Q4. What rental income can I expect after handover?

Business Bay gross yields track 6% to 8% as of Q1 2026. On a studio at AED 1.23M that is approximately AED 73,800 to AED 98,400 annually. Dubai Canal views, De Grisogono interiors and Business Bay Metro at walking distance position Canal Heights 2 for premium rents above standard Business Bay towers.

Q5. Who is De Grisogono?

De Grisogono is a prestigious Swiss luxury jewellery brand renowned globally for bold designs, exotic gemstones and exceptional craftsmanship. The brand's signature Blue Topaz aesthetic has been applied throughout Canal Heights 2's interiors, creating a residential product with the same brand equity and collectibility as luxury jewellery itself. This branded residential partnership elevates Canal Heights 2 significantly above standard Business Bay towers at both the resale and rental premium level.