2-Bedroom with Full Canal View at Canal Crown, Business Bay, Off-Plan Distress

Property Overview

This 2-bedroom apartment in Canal Crown by DAMAC, Business Bay, is offered at AED 3,130,000 as an off-plan distress resale. It has a built-up area of 1,368 sq ft with a full Dubai Canal view. The agent reports that 45% has been paid, handover is due in Q4 2027, and the price is about 10% below the original purchase price. The asking rate is about AED 2,288 per sq ft.

Property Highlights

• Asking price: AED 3,130,000
• Bedrooms: 2
• Built-up area: 1,368 sq ft
• Asking rate: about AED 2,288 per sq ft
• View: full canal view (agent-stated)
• Amount paid: 45% of OP (agent-stated)
• Handover: Q4 2027 (agent-stated)
• Agent-stated discount: about 10% below OP
• Developer: DAMAC Properties

Why the Listing Is Classed as Off-Plan Distress

The agent describes the price as about 10% below the original purchase price, but the OP figure itself was not supplied. DPF has therefore not calculated a discount and classes the listing as off-plan distress. Ask the agent for the OP from the SPA to verify the 10% figure.

With 45% paid, a majority of the original price is still payable to DAMAC. Buyers should confirm the exact outstanding balance, the instalment schedule and whether the AED 3,130,000 asking price includes the remaining payments, using the SPA and DAMAC's statement of account.

About Canal Crown and Business Bay

Canal Crown is a DAMAC Properties residential project in Business Bay overlooking the Dubai Canal. Published project information describes studios, 1- and 2-bedroom apartments and larger duplexes, with themed amenities including a rooftop observation deck, swimming pool, spa and relaxation areas, a private screening room and landscaped garden spaces.

Layout, Floor and View

The agent describes a two-bedroom apartment of 1,368 sq ft with a full canal view. The tower or phase, floor number, bathroom count and parking were not supplied.

Payment Plan and Handover

The agent states 45% paid and handover in Q4 2027. Published information on the project shows different handover dates for different phases, so confirm which Canal Crown phase this unit is in and the handover date in the SPA.

Location and Connectivity

Business Bay is a central Dubai district next to Downtown Dubai, along the Dubai Canal, with access to Sheikh Zayed Road and Al Khail Road. Exact travel times were not supplied.

Verification Notes

• Agent-supplied: price, built-up area, bedrooms, full canal view, 45% paid, Q4 2027 handover and the approximate 10% discount.
• Calculated by DPF: rate per sq ft.
• External research: developer, unit mix and amenities from published project information.
• Not supplied: original purchase price, tower or phase, floor, bathrooms, parking and payment schedule.