Mid Floor 2 Bedroom in Chic Tower, Business Bay at 14.5% Below OP with Canal View

Property Overview

This 2-bedroom apartment in Chic Tower by DAMAC Properties, Business Bay, is available as a distress resale at AED 2,600,000. The unit has a built-up area of 1,536 sq ft on a mid floor with canal views. The asking price represents a saving of AED 441,000 (14.5%) against the agent-stated original purchase price of AED 3,041,000 (excluding DLD). Handover is expected between October and December 2026.

Property Highlights

• Type: 2-bedroom apartment
• Built-up area: 1,536 sq ft
• Floor: mid
• View: canal
• Asking price: AED 2,600,000
• Original price (ex-DLD): AED 3,041,000
• Saving from OP: AED 441,000 (14.5%)
• Seller's total loss including DLD: approximately AED 562,640 (17.8%)
• Rate: approximately AED 1,693 per sq ft (BUA)
• Handover: Q4 2026 (imminent)
• Status: near completion
• Ownership: freehold

Why the Price Qualifies as Below OP

The agent states the original purchase price for this unit was AED 3,041,000 (excluding DLD). The current asking price of AED 2,600,000 is AED 441,000 lower, a reduction of 14.5% from the original contract value.

Seller's Total Loss Including DLD

The agent confirms the stated OP of AED 3,041,000 is exclusive of DLD. The seller paid a 4% DLD transfer fee on the original purchase, estimated at approximately AED 121,640. Adding this to the original price gives an all-in cost of approximately AED 3,162,640. The asking price of AED 2,600,000 represents a total seller loss of approximately AED 562,640, or 17.8% of their total investment.

Market Context

The asking price is significantly below current market levels for 2-bedroom apartments in Chic Tower:

• Average 2BR asking price in Chic Tower: approximately AED 3,430,000
• Current 2BR listing range: AED 2,800,000 to AED 4,100,000
• Average 2BR DLD transaction price (12 months, 2 sales): AED 3,597,375

This listing at AED 2,600,000 is AED 830,000 below the average 2BR asking price, AED 200,000 below the lowest currently listed 2BR and approximately AED 997,000 below the average DLD transaction price. The agent claims this is the cheapest unit on the market, and current listing data supports this claim.

Canal View from Mid Floor

The agent confirms this is a mid-floor unit with canal view. Chic Tower is located on Al A'amal Street in Business Bay along the Dubai Water Canal. A canal-facing orientation provides an outlook over the waterway, the canal promenade and the surrounding Business Bay skyline. From a mid-floor position, the view clears lower neighbouring structures while remaining closer to the waterfront than upper floors.

Canal-view units in Business Bay are among the most sought-after configurations, as the waterfront outlook is largely protected from obstruction by future development. The Dubai Water Canal promenade adds a landscaped, pedestrian-friendly environment directly below.

Imminent Handover

The agent states handover between October and December 2026 (Q4 2026). Earlier project data from Property Finder indicated completion in July 2025, and Bayut data shows Q2 2026. The later handover date suggests a schedule adjustment. At the time of this listing in September 2026, handover is imminent, meaning the buyer would take possession within one to three months of purchase.

Near-completion timing is advantageous for buyers who want to occupy or rent the unit quickly without a prolonged construction wait. It also means the building's actual finishes, common areas and views can be inspected before committing, removing the uncertainty of off-plan purchases.

About Chic Tower

Chic Tower is a residential development by DAMAC Properties in partnership with de Grisogono, a Swiss luxury jewellery brand, located on Al A'amal Street in Business Bay, Dubai. The tower offers studios, 1-bedroom and 2-bedroom apartments. Two-bedroom units range from 1,266 to 1,679 sq ft. Studio sizes range from 413 to 1,048 sq ft and 1-bedroom units from 741 to 1,624 sq ft.

The building features a distinctive architectural design with tiered terraces inspired by the Dubai Water Canal. All apartments include a balcony, built-in wardrobes, a fully fitted kitchen and central air conditioning.

Amenities

Chic Tower features an infinity swimming pool, gymnasium, wellness spa, meditation decks, poolside cabanas, juice bars, a party zone, BBQ areas, children's play areas, landscaped gardens and parks, covered parking, high-speed elevators, CCTV security and retail outlets within the building.

Location and Connectivity

Chic Tower is situated on Al A'amal Street in Business Bay, one of Dubai's central commercial and residential districts along the Dubai Water Canal. Downtown Dubai and the Burj Khalifa are approximately 5 minutes away. The Dubai Mall is approximately 10 minutes by road. Dubai International Airport is approximately 15 minutes away. The Business Bay Metro Station on the Red Line is approximately 6 minutes by car. Sheikh Zayed Road (E11) and Al Khail Road (E44) are both accessible within 5 to 8 minutes.

Verification Notes

Unit-specific facts including 2-bedroom configuration, built-up area of 1,536 sq ft, mid-floor position, canal view, asking price, original purchase price (stated as excluding DLD) and handover timing are sourced from the agent's brief received on 28 September 2026. The 1,536 sq ft BUA falls within the 2BR range for Chic Tower (1,266 to 1,679 sq ft per Bayut building data). The agent's claim of being the cheapest on the market is supported by current Bayut data showing the lowest 2BR listing at AED 2,800,000, with this unit at AED 2,600,000 sitting below that. DLD data records only 2 two-bedroom transactions in the past 12 months at an average of AED 3,597,375, providing limited but supportive transaction evidence. The agent states handover between October and December 2026; earlier project data indicates Q2 2026, suggesting a schedule adjustment. The original purchase price of AED 3,041,000 should be confirmed against the seller's SPA. Bathroom count, exact floor number, parking count and furnishing status were not stated in the brief and have been omitted.