1 Bedroom in Canal Crown Tower 1, Business Bay at 22.8% Below OP with Flexible Payment to 2027

Property Overview

This 1-bedroom apartment in Canal Crown Tower 1 by DAMAC Properties, Business Bay, is available as a distress resale at AED 2,200,000. The unit has a built-up area of approximately 850 sq ft (79 sq m). The asking price represents a saving of AED 650,000 (22.8%) against the agent-stated original purchase price of AED 2,850,000. The buyer pays AED 1,400,000 now and AED 800,000 in instalments until handover in Q4 2027.

Property Highlights

• Type: 1-bedroom apartment
• Built-up area: approximately 850 sq ft (79 sq m)
• Asking price: AED 2,200,000
• Original price: AED 2,850,000
• Saving from OP: AED 650,000 (22.8%)
• Seller's total loss including DLD: approximately AED 764,000 (25.8%)
• Rate: approximately AED 2,588 per sq ft (BUA)
• Buyer payment: AED 1,400,000 now, AED 800,000 to handover
• Handover: Q4 2027
• Status: off-plan resale (42% complete)
• Ownership: freehold

Why the Price Qualifies as Below OP

The agent states the original purchase price for this unit was AED 2,850,000. The current asking price of AED 2,200,000 is AED 650,000 lower, a reduction of 22.8% from the original contract value. This is one of the steeper OP discounts in Business Bay.

Seller's Total Loss Including DLD

The seller paid a 4% DLD transfer fee on the original purchase, estimated at approximately AED 114,000. Adding this to the original price gives an all-in cost of approximately AED 2,964,000. The asking price of AED 2,200,000 represents a total seller loss of approximately AED 764,000, or 25.8% of their total investment. The seller is absorbing more than a quarter of their total cost.

Market Context

The asking price is well below current market levels for 1-bedroom apartments in Canal Crown:

• Average 1BR asking price in Canal Crown: approximately AED 2,311,000
• Current 1BR listing range: AED 1,590,000 to AED 3,100,000
• Average 1BR DLD transaction price (12 months, 9 sales): AED 2,548,344
• Average asking price trend: down 4% over the past 6 months

This listing at AED 2,200,000 is approximately AED 111,000 below the average 1BR asking price and AED 348,000 below the average 1BR DLD transaction price. The 4% decline in average asking prices over 6 months suggests some softening in the project's resale market, which may have contributed to the seller's decision to reduce aggressively.

Buyer Payment Structure

The agent outlines a buyer-friendly payment structure: AED 1,400,000 payable now and AED 800,000 in instalments until handover in Q4 2027. This structure means the buyer takes over the seller's remaining payment obligations to DAMAC Properties.

The breakdown implies the seller has already paid approximately AED 1,400,000 to DAMAC and the buyer covers the remaining AED 800,000 in construction and handover instalments. At a total cost of AED 2,200,000, the buyer effectively acquires the unit at the seller's distressed price while spreading payment across the remaining construction period.

Buyers should request the following from the agent and seller before committing:

• DAMAC's confirmation of the seller's payment history
• The exact instalment schedule and amounts for the remaining AED 800,000
• Whether any service charges, NOC fees or assignment fees apply on top of the AED 2,200,000
• The seller's SPA to confirm the original purchase price of AED 2,850,000

About Canal Crown

Canal Crown is a luxury residential development by DAMAC Properties in partnership with de Grisogono, a Swiss luxury brand. The project is located in Business Bay, Dubai, directly along the Dubai Water Canal. The development comprises two 38-storey towers offering studios, 1 to 4-bedroom apartments, duplexes and a townhouse.

One-bedroom apartments in Canal Crown range from approximately 793 to 1,001 sq ft. Each apartment features a signature curved balcony providing sweeping views of either the Dubai Water Canal or the Burj Khalifa. Construction is approximately 42% complete.

Design and Finishes

The project is designed in collaboration with de Grisogono, incorporating luxury design elements and premium finishes. The development features a space-themed design concept reflected in its amenities and common areas.

Amenities

Canal Crown features a rooftop observation deck, a planet-themed garden, UFO spa and relaxation pods, a private screening room, swimming pool with panoramic views, aquafit facilities, a canal promenade, swim VR experience, gymnasium, landscaped gardens, covered parking, high-speed elevators and round-the-clock security with concierge services.

Location and Connectivity

Canal Crown is situated in Business Bay along the Dubai Water Canal, one of the most connected districts in Dubai. Business Bay provides direct access to Sheikh Zayed Road (E11) and Al Khail Road (E44). The Business Bay Metro Station on the Red Line is within walking distance. Downtown Dubai and the Burj Khalifa are immediately adjacent. Dubai International Airport is approximately 15 minutes by road. The Dubai Canal promenade provides pedestrian and cycling access along the waterfront with retail and dining outlets.

Verification Notes

Unit-specific facts including 1-bedroom configuration, approximate built-up area of 850 sq ft (79 sq m), asking price, original purchase price and payment structure (AED 1,400,000 now, AED 800,000 to handover) are sourced from the agent's brief received on 28 September 2026. The approximate BUA of 850 sq ft falls within the 1BR range for Canal Crown (793 to 1,001 sq ft per Bayut data). The agent specifies Tower 1 but does not state the exact floor, view orientation, bathroom count, parking count or furnishing status, and these have been omitted. Project-level details including tower configuration, construction status, amenities, design partnership and payment plan are drawn from Property Finder project data, Bayut building data and Metropolitan project data. DLD data confirms 9 one-bedroom transactions in the past 12 months at an average of AED 2,548,344, supporting the below-market positioning of this listing. The agent states handover in Q4 2027; Property Finder shows Q1 2027. The later date has been used as it aligns with the agent's information and construction progress. The original purchase price of AED 2,850,000 should be confirmed against the seller's SPA. The payment structure should be verified directly with DAMAC Properties.