Studio Hotel Apartment in Paramount Tower C, Business Bay with Pool View Below OP

Property Overview

This is a studio hotel apartment in Paramount Tower C, part of DAMAC's Paramount Tower Hotel & Residences in Business Bay, offered at AED 650,000. The unit has a 473 sq ft built-up area, sits on a high floor with a pool view and is managed by DAMAC. The asking price is AED 570,000, or 46.7%, below the agent-stated original price of AED 1,220,000.

Property Highlights

• Asking price: AED 650,000
• Agent-stated original purchase price: AED 1,220,000
• Difference: AED 570,000, or 46.7% below the stated original price
• Built-up area: 473 sq ft
• Price per sq ft: approximately AED 1,374
• Unit type: studio hotel apartment
• Floor: high floor, as stated by the agent
• View: pool
• Management: managed by DAMAC, as stated by the agent

Why the Price Qualifies as Below OP

The agent brief lists an original price of AED 1,220,000 and a selling price of AED 650,000. The difference is AED 570,000, and dividing that by the original price gives 46.7%, rounded to one decimal place.

A discount of this size usually reflects how hotel apartment values in the building have moved since the original purchase, rather than a one-off bargain. The original price is therefore a weak guide to current value, and buyers should compare the asking price with recent DLD transactions for studios in the same tower.

About the Building, Developer and Community

Paramount Tower Hotel & Residences is a completed multi-tower development by DAMAC Properties in Business Bay, combining a hotel with serviced hotel apartments under the Paramount brand. Business Bay is a central mixed-use district beside Downtown Dubai, with access to Sheikh Zayed Road and Al Khail Road.

Hotel Apartment Management

The agent states the unit is managed by DAMAC. Hotel apartments are typically operated within a rental pool or management programme, which can affect how the owner uses the unit, the costs deducted and the income received. The management terms, recent rental income, service charges and any minimum term were not supplied. Buyers should obtain the management agreement and income statements before making an offer.

Layout and View

The agent confirms a 473 sq ft studio on a high floor with a pool view. The exact floor number, bathroom count, parking and furnishing were not supplied. Request the floor plan and confirm the view position.

Verification Notes

• Agent-supplied facts: building, tower, unit type, built-up area, high floor, pool view, DAMAC management, original price and asking price.
• Calculated figures: the AED 570,000 difference, 46.7% discount and AED 1,374 per sq ft are DPF calculations from the agent's figures.
• Not supplied: exact floor, management terms, rental income, service charges, parking and unit number.