- 1 Bedroom Apartment — Corner Unit — High Floor, DAMAC Properties, Business Bay — Dubai Canal Front, Dubai, UAE
- 895 sqft BUA (83.1 sqm) | 1 Parking | Semi-Furnished | Burj Khalifa and Dubai Canal View | High Floor — Corner Position
- Asking Price: AED 1,610,000 — 17% below OP+DLD below original cost of AED 1,947,115; AED 490,000 below current market AED 2,100,000
- Payment: 70% paid (AED 1,362,980); buyer assumes 30% (AED 584,135) at Q4 2026
- Handover: Q4 2026 | Business Bay De Grisogono — DAMAC Chic Tower, the only de Grisogono-branded residential project in the world, overlooking the Dubai Canal
What is this CHIC Tower — De Grisogono 1BR deal in Business Bay?
This is a verified motivated-seller distress listing at CHIC Tower — De Grisogono by DAMAC Properties in Business Bay. The seller is exiting at 17% below OP+DLD below the original purchase price of AED 1,947,115, transferring a 895 sqft 1BR unit at AED 1,610,000 (AED 1,799/sqft) against a current Business Bay secondary market of AED 2,346/sqft — placing AED 490,000 in immediate unrealised equity in the buyer's hands from the moment of signing. Business Bay recorded 11,600 DLD-registered transactions in 2025, up 18% year-on-year, confirming the buyer liquidity depth that supports any future exit.
The unit is positioned on High Floor — Corner Position, delivering Burj Khalifa and Dubai Canal View. With 70% of the original purchase price already paid by the seller (AED 1,362,980), the buyer assumes only the remaining 30% (AED 584,135) due at Q4 2026 handover — providing 9-12 months of cashflow planning runway between transfer and final payment. Semi-Furnished specification allows the buyer to complete the unit to their preferred specification while benefiting from the seller discount.
The seller's exit is driven by genuine personal liquidity pressure — not by a concern about the project, the developer or the market. Having committed AED 1,362,980 (70%) in capital to DAMAC Properties, the seller is absorbing a cash loss of AED 416,000 to access liquidity now. The buyer captures the full gap between the seller's distress price and the current Business Bay secondary market: AED 490,000 on AED 1,610,000 invested = 30.4% immediate paper return. At new off-plan launches in Business Bay pricing at AED 3,400/sqft, this entry at AED 1,799/sqft represents below-replacement-cost acquisition.
CHIC Tower — De Grisogono Business Bay — Property Specifications
- Project: CHIC Tower — De Grisogono
- Developer: DAMAC Properties
- Community: Business Bay — Dubai Canal Front, Dubai
- Unit Type: 1 Bedroom Apartment — Corner Unit — High Floor
- BUA: 895 sqft (83.1 sqm)
- Bathrooms: 1
- Parking: 1 Covered Space
- Floor: High Floor — Corner Position
- View: Burj Khalifa and Dubai Canal View
- Furnishing: Semi-Furnished
- Handover: Q4 2026
- Ownership: Freehold — Open to All Nationalities
- Listing Reference: CHIC-TOWER-DAMAC-BB-1BR-CORNER-DISTRESS-001
Payment Plan Breakdown — What the Buyer Takes Over
- 70% Already Paid by Seller: AED 1,362,980 across installments to DAMAC Properties
- Buyer Transfer Payment to Seller (at MOU): AED 1,025,865
- DLD Registration Fee (4%): AED 64,400 — buyer pays directly to DLD
- Developer NOC and Transfer Fee: approx. AED 5,000–6,500
- 30% Final on Handover (Q4 2026): AED 584,135 — buyer pays DAMAC Properties at handover
- TOTAL ALL-IN: AED 1,679,900 (incl. DLD; excl. handover balance). Zero agent fee.
The transfer is executed via DAMAC Properties-approved novation: seller obtains NOC from DAMAC Properties confirming no arrears; both parties execute MOU with 10% deposit (AED 161,000) in escrow; DAMAC Properties, seller and buyer sign novation SPA; buyer registers at DLD paying 4% fee of AED 64,400; buyer assumes final 30% (AED 584,135) at Q4 2026 handover. DistressPropertyFinder.com manages the complete process from initial documentation review through DLD title registration.
Pricing Analysis — Why This is a Deal in 2026
- Original Purchase Price (OP): AED 1,947,115
- DLD Registration Fee (4%): AED 64,400
- Total Seller Cost (OP + DLD): AED 2,011,515
- Asking Price: AED 1,610,000
- Seller Loss vs OP: AED 416,000 (loss — genuine distress exit)
- Current Business Bay Market Value: AED 2,100,000
- Day-One Buyer Equity (vs Market): AED 490,000 (30.4%)
- This Listing — Price per Sqft: AED 1,799/sqft
- Business Bay Resale Market — Price per Sqft: AED 2,346/sqft (DAMAC Chic Tower 1BR corner high floor Burj view current market)
- New Off-Plan Launches in Business Bay (2025-2026): AED 3,400/sqft
- Estimated Gross Rental Yield: 5.5%–7.8% p.a.
- Estimated Annual Rent (Mid-Range): AED 105,000/yr
- Estimated Annual Service Charge: AED 16,000/yr
- Total All-In Acquisition Cost (Price + DLD): AED 1,674,400
- Agent Fee for Buyer: Zero
At AED 1,799/sqft, this unit sits AED 547/sqft (23.3%) below current Business Bay secondary market and AED 1,601/sqft below new off-plan launches — meaning any buyer entering through a direct developer channel today pays materially more for a comparable Business Bay address with a further 2-3 year construction wait. At the mid-range annual rent of AED 105,000, gross yield is 6.5%, delivering AED 89,000/yr net of service charges on a day-one basis before any capital appreciation is counted.
Business Bay Location — Why This Community Matters
DAMAC Chic Tower — de Grisogono is a 41-storey luxury residential tower on the banks of the Dubai Water Canal in Business Bay, developed by DAMAC Properties in collaboration with Swiss jewellery brand de Grisogono. The project overlooks the Burj Khalifa and Dubai Water Canal from its Canal-facing facade, with a stepped roof featuring cascading water pools and wave-shaped terraces inspired by natural turquoise. Q4 2026 completion. 895 sqft 1BR corner unit on a high floor with Burj view is among the most premium unit configurations in the building — corner positioning adds approximately 15% area to the effective living space versus a standard slab-side unit.
CHIC Tower is located on Al A'amal Street, Business Bay, facing the Oberoi Hotel and adjacent to the iconic Opus building by Zaha Hadid. Business Bay Metro Station is a 7-minute walk. Sheikh Zayed Road is 1km to the west. The Dubai Water Canal promenade connects to City Walk and the Safa Park waterfront.
DAMAC-branded de Grisogono 1BR apartments in Business Bay are projected to achieve AED 85,000-120,000/yr in annual leases. Corner high-floor Burj view units command a 15-20% premium over non-view units — targeting AED 98,000-130,000/yr. At AED 1,610,000, a mid-range AED 105,000 annual rent equates to 6.5% gross yield. DAMAC 2025 analysis confirms branded Business Bay units deliver 6.5-8% gross yield with average time-on-market of 45-60 days versus 90+ days for non-branded towers.
CHIC Tower launched at AED 823,000 for 1BR studios in 2022. By 2025, market pricing for 1BR in comparable DAMAC Business Bay branded towers has reached AED 1,503,000-5,170,000 depending on size (741-1,915 sqft). This 895 sqft corner high-floor Burj view unit at AED 1,610,000 (AED 1,799/sqft) is 17% below OP+DLD. Market psf for DAMAC 1BR Business Bay Burj view: AED 2,200-2,900/sqft based on comparable DAMAC Aykon, DAMAC VOLTA 1BR data. De Grisogono branding commands premium. Q4 2026 handover = imminent. 7 revitalising baths, spa, outdoor gym — unique wellness identity.
Business Bay Distances & Connectivity
- Dubai Mall: 6 km — Shopping & Entertainment
- Burj Khalifa: 5 km — Iconic Landmark
- Downtown Dubai: 5 km — Urban District
- Dubai Water Canal Promenade: 0.1 km — Waterfront
- Business Bay Metro Station: 0.8 km — Metro Station
- DIFC: 8 km — Financial Centre
- Dubai International Airport DXB: 17 km — International Airport
- City Walk: 4 km — Lifestyle & Retail
CHIC Tower — De Grisogono — Building & Amenities
- 7 Revitalising Therapeutic Baths — De Grisogono Wellness Concept
- Outdoor Calisthenic Gymnasium — Podium Level
- Cascading Rooftop Infinity Pools — Multi-Level Stepped Design
- 24-Hour Concierge and Security
- Covered Parking (1 Space)
- Corner Unit — Two-Aspect Burj and Canal Views
- De Grisogono-Designed Interior — Turquoise and Swiss Jewellery Aesthetic
- Juice Bar and Wellness Lounge
- Kids Play Area
- Party Zone and Football Arena
- BBQ and Outdoor Terrace
- Meditation Decks
Who Should Buy This CHIC Tower — De Grisogono 1BR in Business Bay?
- The Below-Market Capital Investor: You are seeking a distress entry that provides immediate equity and a clear exit thesis. At AED 1,799/sqft versus market AED 2,346/sqft and new off-plan AED 3,400/sqft, this unit provides AED 490,000 (30.4%) in day-one unrealised equity. DAMAC Properties construction milestones de-risk the Q4 2026 handover, and the 30% remaining installment (AED 584,135) provides controlled remaining capital exposure. At 6.5% gross yield, annual income of AED 105,000 significantly outperforms comparable European prime residential at 2-4%.
- The End-User and Lifestyle Buyer: You are currently renting in Business Bay or a neighbouring community. Typical 1BR annual rents in Business Bay range AED 88,000–AED 125,000, meaning ownership at AED 1,674,400 all-in (including DLD, zero agent fee) starts making financial sense within 18-24 months versus continued renting. Semi-Furnished specification means a modest fit-out investment completes the unit to your preference — fully offset by the seller discount. The Burj Khalifa and Dubai Canal View and High Floor — Corner Position add lifestyle value beyond pure investment metrics.
- The Portfolio Diversifier: You hold property in a mature Dubai sub-market and want a below-market position in Business Bay to broaden your income base. DAMAC Properties's institutional brand ensures strong exit liquidity — secondary buyers recognise the developer premium and price accordingly. The AED 490,000 built-in equity provides a margin of safety against any short-term market softening, while Business Bay's 18% transaction volume growth in 2025 confirms liquidity depth for an exit at any future timeline at market value or above.
How to Acquire This CHIC Tower — De Grisogono Unit — Step by Step
- Express Interest (Day 0): Contact DistressPropertyFinder.com quoting CHIC-TOWER-DAMAC-BB-1BR-CORNER-DISTRESS-001. Receive full SPA, all DAMAC Properties payment receipts (AED 1,362,980 confirmed), floor plan and title extract within 24 hours.
- Documentation Review (Day 1–3): Review original SPA, DLD certificate, all installment receipts, and building progress. Independent UAE-registered conveyancer review recommended.
- Sign MOU — Form F (Day 3–7): Execute MOU. 10% deposit AED 161,000 held in DLD-registered escrow.
- Obtain DAMAC Properties NOC (Day 7–17): DistressPropertyFinder.com submits to DAMAC Properties. NOC: 5–10 business days. Developer transfer fee approx. AED 5,000–6,500.
- Execute Novation SPA (Day 15–20): DAMAC Properties, seller and buyer sign novation SPA. Buyer is now registered as purchaser of remaining 30% at Q4 2026.
- DLD Registration (Day 17–22): Buyer pays DLD fee AED 64,400 (4%) directly to DLD. Title deed: 1–3 business days.
- Final Payment to Seller (Day 17–22): Buyer pays AED 1,025,865 to seller at registration. MOU deposit credited against this amount.
- Hold to Q4 2026 Handover: Buyer prepares AED 584,135 (30%) for Q4 2026 handover and monitors DAMAC Properties construction updates. DistressPropertyFinder.com manages the full process end to end.
Golden Visa eligibility, rental and yield figures, handover timing and transport connectivity described above reflect source information published as at 17 August 2026 and can change. Confirm current status before relying on them.
