1-Bedroom Canal Crown Business Bay Apartment, 19.4% Below Original Price

Property Overview

This 1-bedroom off-plan apartment on floor 13 of DAMAC's Canal Crown in Business Bay is offered at AED 1,750,000 for 817 sq ft, about AED 2,142 per sq ft. The asking price is AED 420,480, or 19.4%, below the agent-stated original purchase price of AED 2,170,480. The agent states the seller cannot continue the payment plan, and handover is stated for Q4 2027.

Property Highlights

• Property type: apartment
• Bedrooms: 1
• Size: 817 sq ft (agent-stated)
• Asking price: AED 1,750,000
• Original purchase price: AED 2,170,480 (agent-stated)
• Saving: AED 420,480 (19.4%)
• Price per sq ft: about AED 2,142
• Floor: 13 (agent-stated)
• View: partial Dubai Canal view (agent-stated)
• Handover: Q4 2027 (agent-stated)
• Developer: DAMAC Properties

Why the Price Qualifies as Below OP

The agent states an original purchase price of AED 2,170,480 and an asking price of AED 1,750,000. The difference is AED 420,480, which is 19.4% of the original price. The agent rounded this to 19%.

The agent gives the reason for the sale as the seller being unable to continue the payment plan. Buyers should confirm the amount already paid to DAMAC, any overdue instalments or penalties, and the outstanding balance from the SPA and statement of account, as these affect what is paid to the seller versus the developer. The comparison is against the seller's own purchase price, not a dated DLD transaction or independent valuation.

About the Project, Developer and Community

Canal Crown is a 38-storey residential tower by DAMAC Properties in Business Bay, overlooking the Dubai Canal. It offers studios, 1- and 2-bedroom apartments and larger duplexes, and is sold out from the developer.

Project materials list a rooftop observation deck, a space-themed garden, spa and relaxation pods, a private screening room and a swimming pool with canal views.

Layout, Floor and View

The agent states an 817 sq ft 1-bedroom layout on floor 13 with a partial canal view. Bathrooms and parking were not supplied. Request the floor plan and SPA unit details before an offer.

Payment Plan and Handover

The agent states handover in Q4 2027. Some project references list an earlier expected completion, so confirm the current date with DAMAC. The project's launch plan placed a large share of the price on handover; confirm this seller's paid amount, any arrears and the remaining schedule in the SPA.

Location and Connectivity

Business Bay sits beside Downtown Dubai along the Dubai Canal, with access to Sheikh Zayed Road, Al Khail Road and the Business Bay Metro station area. DPF has not verified specific travel times for this tower.

Verification Notes

• Agent-supplied: building, community, bedrooms, size, floor, partial canal view, reason for sale, handover, original price and asking price.
• Calculated by DPF: AED 420,480 saving (19.4%, which the agent rounded to 19%) and about AED 2,142 per sq ft.
• Researched: developer, tower height, unit mix and amenities from project references.
• Not supplied: bathrooms, parking, amount paid, arrears and remaining payment schedule.