AED 3,130,000 was AED 3,477,778
| Deal type | Below OP |
| Price | AED 3,130,000 |
| Original price | AED 3,477,778 |
| Saving | AED 347,778 (10%) |
| Bedrooms | 2 |
| Size | 1368 sq.ft |
| Type | Apartment |
| Status | Off-Plan |
| Developer | DAMAC Properties |
| Area / Master development | Business Bay |
| Sub-community / Phase | Canal Crown |
| Community | Business Bay |
A 2-bedroom apartment in Canal Crown (Tower 2) by DAMAC Properties, Business Bay at AED 3,130,000, 10% below the original purchase price. Back-calculated OP: approximately AED 3,477,778. Savings: approximately AED 347,778. BUA 1,368 sqft at AED 2,288 per sqft. Full Dubai Water Canal view. 45% of payment plan completed. Handover Q4 2027.
The agent states 10% below OP. Back-calculating: OP is approximately AED 3,477,778. This aligns with launch pricing of approximately AED 3,420,000 reported by RealtyHunting for 2BR units at the May 2023 launch. Including the 4% Oqood fee of approximately AED 139,111, the seller's total investment was approximately AED 3,616,889. Total estimated loss: AED 486,889 (13.5% of total investment).
At AED 2,288 per sqft, the asking is 10% below the lowest DLD transaction (AED 2,545 per sqft) and 21% below the highest (AED 2,913 per sqft). Only three 2BR DLD transactions are recorded, but all are above the asking price.
At AED 3,130,000, this listing is AED 438,000 (12.3%) below the cheapest active listing and AED 870,000 (21.8%) below the most expensive. The canal view on this unit is a premium feature comparable to the Burj Khalifa view on the FAM listing.
The agent states 1,368 sqft. Published Canal Crown 2 layouts show 2BR Type 1 at 1,335 sqft and 2BR Types 2 to 5 at 1,456 sqft. DLD transactions record 2BR sizes at 1,311 and 1,457 sqft. The 1,368 sqft does not match any published type. This could be a variant layout, a measurement difference between the SPA and marketing materials, or an agent error. The size should be verified from the SPA. If the actual size is 1,335 sqft (Type 1), the price per sqft increases to AED 2,345. If 1,456 sqft (Types 2-5), it decreases to AED 2,150.
The seller has paid 45% of the original price to DAMAC. Standard DAMAC payment plans for Canal Crown:
With 45% paid, the buyer takes over the remaining 55% of payments to DAMAC. Estimated remaining to DAMAC: approximately AED 1,912,778 (55% of back-calculated OP of AED 3,477,778). The buyer pays the seller for the 45% already invested (approximately AED 1,565,000 based on OP), adjusted for the discount.
DAMAC Properties is one of Dubai's largest developers but has a mixed track record on delivery timelines. Projects are frequently delivered 6 to 12 months beyond stated SPA dates. Canal Crown 1 is scheduled for Q1 2027 and Canal Crown 2 for Q4 2027. Buyers of Tower 2 should plan for mid to late 2028 as a realistic handover window. DAMAC projects are typically delivered with quality finishes but the timeline uncertainty should be factored into financial planning.
A twin-tower residential project by DAMAC Properties fronting the Dubai Water Canal in Business Bay. Each tower is approximately 38 floors. Units include studios, 1BR and 2BR apartments (floors 2 to 35) plus 3 to 4BR duplexes (floors 36 to 37). Canal promenade access. Located on the Dubai Water Canal with views of Downtown Dubai skyline. Launched May 2023. Both towers sold out from developer.
Central Dubai business and residential district along the Dubai Water Canal. Adjacent to Downtown Dubai. Connected by Business Bay Metro Station. Approximately 5 minutes to Downtown Dubai, 15 minutes to DIFC, 10 minutes to DXB Airport. Freehold ownership. Business Bay 2BR average: AED 2,580 to AED 2,800 per sqft depending on tower quality and view.
The selling price (AED 3,130,000), BUA (1,368 sqft), 10% below OP, full canal view, 45% paid and Q4 2027 handover are from the agent brief. The OP is back-calculated at approximately AED 3,477,778, consistent with May 2023 launch pricing of approximately AED 3,420,000. The 1,368 sqft does not match published 2BR layouts (1,335 or 1,456 sqft) and should be verified from the SPA. DLD data supports below-market pricing. Q4 2027 handover is official but DAMAC projects historically see 6 to 12 month delays.
Tower 2 (Canal Crown 2). Canal Crown 1 handover is Q1 2027 (February 2027). Canal Crown 2 handover is Q4 2027 (December 2027). Since the agent states Q4 2027, this unit is in Tower 2. Both towers are approximately 38 floors each, with studios, 1BR and 2BR on floors 2 to 35, and 3 to 4BR duplexes on floors 36 to 37.
Significantly below market. DLD 2BR transactions in Canal Crown: AED 3,534,000 at 1,311 sqft (AED 2,696 per sqft, Apr 2026), AED 4,255,000 at 1,461 sqft (AED 2,913 per sqft, Apr 2026), AED 3,708,000 at 1,457 sqft (AED 2,545 per sqft, Feb 2026). Active listings: AED 3,568,000 at 1,314 sqft (AED 2,715 per sqft, Provident), AED 4,000,000 at 1,303 sqft (AED 3,069 per sqft, FAM, Burj Khalifa view). At AED 2,288 per sqft, this listing is 10% below the lowest DLD transaction (AED 2,545) and 16% below the cheapest active listing.
DAMAC Properties historically delivers 6 to 12 months beyond stated SPA dates. RealtyHunting advises planning for 2028. Sources cite various dates: Q1, Q2 and Q4 2027 for different towers. DXBinteract says early 2027 for the overall project. For Tower 2, Q4 2027 is the official date. Realistic handover: mid to late 2028. Buyers should factor this into their financial planning.
The seller has paid 45% of the purchase price to DAMAC. On a standard 20/60/20 plan (20% booking, 60% construction, 20% handover), 45% means the booking plus 25% of construction milestones are cleared. The remaining 55% (approximately 35% construction plus 20% handover) is paid by the buyer to DAMAC per the existing schedule. The buyer pays the seller for the 45% already invested (adjusted for any premium or discount) and continues paying DAMAC the remaining installments. At AED 3,130,000 total price, the buyer effectively pays the seller for value already invested and takes over approximately AED 1,721,500 in remaining payments to DAMAC. The exact split depends on the original SPA price.
Not exactly. Canal Crown 2 published layouts show 2BR Type 1 at 1,335 sqft and 2BR Types 2 to 5 at 1,456 sqft. DLD transactions record 2BR units at 1,311 and 1,457 sqft. The 1,368 sqft does not match any standard type. It could be a specific layout variant, a measurement discrepancy between the SPA and marketing materials, or a rounded figure. Buyers should verify the exact size from the SPA and floor plan before proceeding.
Buyer costs
Dubai transfer costs for an off-plan unit. Every figure editable — NOC is set by the developer and varies.
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Total cost
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Full payment schedule and unit details are released to qualified buyers on enquiry.
Indicative only and not a quotation. Excludes any balance payable to the developer, mortgage arrangement costs and service charges.
Finance
Off-plan: UAE lenders generally finance at handover. Plan the position you will be in.
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Monthly payment
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Indicative only, not an offer of finance and not advice. UAE loan-to-value caps depend on residency, property value and whether it is your first purchase, with tighter limits on off-plan. Rates move; confirm current terms with your bank or broker.
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