Property Overview
A furnished studio hotel apartment in Paramount Tower C (part of Damac Towers by Paramount Hotels and Resorts), Business Bay at AED 650,000 for 473 sqft, equalling AED 1,374 per sqft. 46.7% below the original price of AED 1,220,000, saving AED 570,000. Pool view. Managed by Damac. Ready property (completed 2018).
Property Highlights
- Type: Studio hotel apartment (furnished)
- Size: 473 sqft
- Asking price: AED 650,000
- Original price: AED 1,220,000
- Saving: AED 570,000 (46.7%)
- Rate: AED 1,374 per sqft
- View: Pool view
- Completion: 2018 (ready)
Below OP Analysis
The 46.7% discount from OP is real but requires context. Damac hotel apartments launched during 2013 to 2017 were priced aggressively, often with post-handover payment plans and DLD fee waivers that inflated the headline price. The secondary market has never traded near these original prices. The OP of AED 1,220,000 (AED 2,580 per sqft) was approximately double what similar units now transact for.
Comparison to Current Market
The more meaningful comparison is to current DLD transactions:
- AED 809,000 for 473 sqft (Aug 2026) = AED 1,710 per sqft
- AED 810,000 for 476 sqft (Aug 2026) = AED 1,701 per sqft
- AED 750,000 for 451 sqft (Aug 2026) = AED 1,662 per sqft
- AED 732,800 for 452 sqft (Aug 2026) = AED 1,621 per sqft
- AED 900,000 for 486 sqft (Sep 2026) = AED 1,852 per sqft
- AED 751,300 for 476 sqft (Oct 2026) = AED 1,577 per sqft
- AED 765,417 for 452 sqft (Oct 2026) = AED 1,693 per sqft
At AED 650,000 (AED 1,374 per sqft), this listing is below all recorded DLD transactions for comparable studios. The most recent sale for a 473 sqft unit (August 2026) was AED 809,000, making this listing AED 159,000 (19.7%) below that transaction.
Active Listings
- AED 649,999 for 482 sqft furnished studio on FAM Properties
- AED 750,000 for 472 sqft furnished studio on Dubizzle
- AED 750,000 for 452 sqft on FAM Properties
The FAM Properties listing at AED 649,999 for 482 sqft is the only comparable at a similar price point. Most active listings sit at AED 750,000 and above.
Tower and Management
Paramount Tower C is one of four towers in the Damac Towers by Paramount complex (all 69 floors, 268 metres). Tower C is a serviced apartment tower, not the branded hotel tower. Units are classified as hotel apartments in DLD records and come fully furnished with hotel-grade finishes including wooden flooring, glass-partition bathroom, freestanding tub, minibar and balcony. The complex is managed by Damac, with Paramount Hotels and Resorts brand association.
Rental Yield
Estimated annual rent for Tower C studios: AED 76,000 to 79,000. At AED 650,000, the gross rental yield would be 11.7% to 12.2%. This appears high and should be verified against actual achieved rents. After service charges (approximately AED 10,000 per year), the net yield is approximately 10.1% to 10.6%. Business Bay hotel apartment average gross yield is 6% to 7.5%.
Verification Notes
The asking price, OP, size, pool view and furnished status are from the agent brief. The 46.7% saving is verified (570,000 divided by 1,220,000). The 473 sqft matches DLD-recorded unit sizes. DLD transaction data confirms that AED 650,000 is below all recent comparable transactions. Buyers should confirm the exact floor, view orientation, service charge obligations, any mandatory operator agreements, Damac NOC fee and whether the unit is subject to revenue-sharing or hotel pool arrangements.
