1BR Distress Deal | Chic Tower by Damac | Business Bay, Dubai | AED 1,540,000

High-Floor 1-Bedroom in Chic Tower, Business Bay — Best View in the Project | AED 1,540,000

A remarkable distress opportunity for buyers and investors seeking a premium apartment in Business Bay, Dubai at one of the deepest discounts available in Chic Tower by Damac. This is a 1-bedroom apartment of 830 sq ft positioned on a high floor — specifically identified by the seller as the best unit in the building by virtue of floor level and view — a claim that reflects a position commanding the most expansive outlook this tower offers. Priced at AED 1,540,000 against an original price of AED 2,067,000 (excluding DLD), the distress saving stands at AED 527,000 — approximately 25% below original price. With handover scheduled for end of 2026, this is a late-stage off-plan asset being sold at a discount that is genuinely rare for a Damac branded tower in one of Dubai’s most sought-after business and residential districts.

Property Highlights

• Project: Chic Tower by Damac
• Developer: Damac Properties
• Community: Business Bay, Dubai, UAE
• Configuration: 1 Bedroom
• Size: 830 sq ft / 77 m²
• Floor: High Floor
• View: Best View in the Project
• Status: Off-Plan — Near Handover
• Handover: End of 2026
• Original Price (excl. DLD): AED 2,067,000
• Asking Price: AED 1,540,000
• Distress Saving: AED 527,000 (approximately 25% below original price)
• Deal Type: Distress Property
• Seller: Motivated
• Ownership: Freehold — Open to All Nationalities

About Chic Tower by Damac, Business Bay

Chic Tower is a striking residential skyscraper by Damac Properties rising in the heart of Business Bay — Dubai’s most dynamic mixed-use waterfront district running along the Dubai Water Canal. The tower is developed under Damac’s de GRISOGONO fashion-inspired design philosophy, reflecting the brand’s signature commitment to elegance, curated aesthetics, and premium lifestyle offerings. Chic Tower stands out within Business Bay’s increasingly competitive high-rise residential market by virtue of its brand association, design quality, and comprehensive amenity stack. A high-floor unit in Chic Tower commands some of the most sweeping vistas in Business Bay — encompassing the Dubai Water Canal, the Burj Khalifa, the Downtown Dubai skyline, and the broader city panorama — views that are a defining feature of the tower’s most coveted positions. The seller explicitly identifies this unit as the best in the building by floor level and view, placing it at the pinnacle of Chic Tower’s residential hierarchy.

Community & Lifestyle

• Business Bay is Dubai’s premier mixed-use waterfront district along the Dubai Water Canal, combining residential, commercial, and hospitality in one of the city’s most central addresses
• Walking distance to the Dubai Water Canal waterfront promenade with jogging tracks, cycling paths, and waterfront dining
• Minutes from Burj Khalifa, The Dubai Mall, Dubai Opera, and DIFC — Dubai’s highest-density cluster of luxury, culture, and finance
• Exceptionally well connected via Sheikh Zayed Road (E11), Al Khail Road (E44), and Business Bay Metro Station
• One of Dubai’s strongest rental markets driven by corporate tenants, young professionals, and expatriate executives
• Business Bay continues to attract institutional investment, further underpinning long-term capital values

Amenities

• Damac de GRISOGONO fashion-inspired lobby and shared spaces
• Rooftop infinity pool with panoramic views
• State-of-the-art fitness centre and gymnasium
• Spa and wellness facilities
• Sky lounge and residents’ lounge
• Concierge and front desk services
• Covered valet and basement parking
• Children’s play area and family amenities
• 24-hour security and CCTV surveillance
• High-speed premium elevators
• Retail and dining at ground and podium level
• Direct proximity to Dubai Water Canal waterfront promenade

Layout & Floor Plan

This 1-bedroom apartment in Chic Tower, Business Bay spans 830 sq ft (77 m²) on a high floor. The layout is expected to feature an open-plan living and dining area with floor-to-ceiling glazing to maximise the panoramic views, a fully fitted kitchen with premium appliances and finishes consistent with Damac’s de GRISOGONO design standard, a master bedroom with en-suite bathroom and wardrobe, and a balcony offering the tower’s most expansive cityscape and canal outlook from the high-floor position. Detailed floor plan for this 1-bedroom unit in Chic Tower in Business Bay, Dubai is available on request. Please contact our team for Damac’s official architectural drawings, exact room dimensions, balcony size, and precise unit stack orientation relative to the Burj Khalifa, canal, and Downtown views.

Payment & Handover

This is a distress resale of an off-plan unit in Chic Tower by Damac, Business Bay, with end-of-2026 handover. The seller’s original purchase price was AED 2,067,000 (excluding DLD fees) and the asking price is AED 1,540,000 — a distress saving of AED 527,000, equating to approximately 25% below the original price. This is a motivated seller offering one of the deepest discounts seen on a Damac high-floor unit in Business Bay. As a secondary market resale, the buyer assumes the seller’s contractual position with Damac and any outstanding instalment balance owed to the developer at the time of transfer becomes the buyer’s responsibility. The full payment plan breakdown, total instalments paid to date, and exact outstanding Damac balance are available on request and must be reviewed and confirmed before proceeding. Total acquisition cost for the buyer comprises the agreed resale price of AED 1,540,000 plus any outstanding Damac balance, plus applicable Dubai Land Department transfer costs. DLD transfer costs include a standard 4% registration fee on the agreed transfer value, standard agency commission, and any Damac NOC or trustee fees. Note that the original price was stated exclusive of DLD fees — the buyer’s DLD liability is calculated on the agreed resale price of AED 1,540,000. Mortgage financing options for near-completion off-plan units should be explored with UAE-licensed banks at the earliest opportunity given the end-of-2026 handover timeline. This is an outstanding entry point into one of Business Bay’s most architecturally distinctive branded towers at a 25% discount.

Location & Connectivity

• Business Bay Metro Station (Red Line): approximately 5–8 minutes on foot
• Dubai Water Canal waterfront promenade: approximately 3–5 minutes on foot
• Burj Khalifa & Dubai Fountain: approximately 5–8 minutes by car
• The Dubai Mall: approximately 5–8 minutes by car
• DIFC (Dubai International Financial Centre): approximately 5–7 minutes by car
• Dubai Opera: approximately 5–8 minutes by car
• Sheikh Zayed Road (E11): direct access from Business Bay
• Al Khail Road (E44): approximately 5 minutes by car
• Dubai Hills Estate & Dubai Hills Mall: approximately 15–20 minutes by car
• Dubai International Airport (DXB): approximately 15–20 minutes by car
• Dubai Marina: approximately 25 minutes by car

Why Invest in Chic Tower, Business Bay

• AED 527,000 (25%) below the original purchase price — one of the most significant discounts available on any Damac unit in Business Bay right now
• Best unit in the building by floor and view — the seller explicitly positions this as the pinnacle apartment within Chic Tower’s residential inventory, maximising rental appeal and resale ceiling
• High-floor, 830 sq ft layout in a branded Damac tower — a combination that consistently commands rental premiums above standard Business Bay stock
• End of 2026 handover — near-completion asset with a defined and imminent possession timeline
• Damac de GRISOGONO brand — a distinctive design identity that differentiates Chic Tower within Business Bay’s competitive high-rise market and supports premium rental and resale positioning
• Business Bay is one of Dubai’s strongest and most liquid rental markets — driven by persistent demand from corporate tenants, DIFC professionals, and expatriate executives
• Freehold ownership for all nationalities; at AED 1,540,000 potentially qualifies for UAE residency visa subject to current thresholds
• Dubai’s population growth and continued business district expansion underpin Business Bay values at consistently strong levels

Frequently Asked Questions (FAQs)