DAMAC Canal Heights by DAMAC at Business Bay

DAMAC Canal Heights is a residential tower by DAMAC Properties in Business Bay, Dubai positioned alongside the Dubai Canal and delivering studio, 1-bedroom, and 2-bedroom apartments with canal and city skyline views. The project carries a de GRISOGONO interior design partnership: the Swiss luxury jewellery brand known for coloured gemstones and high-fashion aesthetics has translated its design language into the building's common areas, lobby, and specification choices. DAMAC Properties, founded in 2002, has delivered over 47,000 units across Dubai and global markets. Business Bay is its home district Canal Heights continues a long pipeline of DAMAC towers along the canal that have consistently posted strong resale values at handover.

Canal Heights covers three bedroom configurations: studios at 445 sq.ft, 1-bedroom apartments at 610 sq.ft, and 2-bedroom apartments at 1,314 sq.ft. Every unit is designed around the canal and city views floor-to-ceiling glazing frames the Dubai Canal's 3.2-kilometre waterfront from the building's canal-facing elevation. Interior specifications reflect the de GRISOGONO partnership: premium finishes, high-specification fixtures, and a design language that references the brand's jewellery aesthetic through texture and colour. Open-plan layouts maximise usable space in the studio and 1-bedroom configurations, while the 2-bedroom units include a full living-dining separation. All units are freehold.

Business Bay is a 45-million-square-foot mixed-use district built along the Dubai Canal a 3.2-kilometre artificial waterway connecting the Creek to the sea, lined with a promenade, restaurants, water taxis, and cycle tracks. The community holds over 240 towers across residential and commercial use, with direct access to Downtown Dubai via Al Asayel Street and Sheikh Zayed Road. The canal promenade itself runs from Business Bay to Dubai Marina via Al Wasl Road, connecting some of Dubai's most active leisure corridors. Canal Heights sits within walking distance of the waterfront residents access the promenade directly from the building. The wider district offers five-star hotels, supermarkets, schools, clinics, and the full complement of financial and co-working infrastructure that Business Bay professionals require.

Business Bay currently delivers average gross rental yields of 6–8%, driven by the district's dense mix of corporate tenants, long-stay residents, and short-term rental demand from its proximity to Downtown Dubai and DIFC. At AED 1.05 million entry, Canal Heights hits the most competitive price point in the Business Bay canal-facing segment. Units at AED 2 million and above primarily the 2-bedroom configurations qualify buyers for the UAE's 10-year Golden Visa. Capital gains tax is 0%. Income tax on rental returns is 0%. DAMAC's RERA-registered escrow account protects construction-phase payments. The de GRISOGONO branding adds a differentiation premium at resale branded residences historically transact at a 20–30% premium to equivalent unbranded stock in the same community.

Canal Heights is one of the few Business Bay projects where the entry price, the brand partnership, and the canal-facing position align in the same development. The 10/70/20 plan gives buyers a four-year build window with only 10% required to lock in today's pricing. Q2 2027 handover brings the full Business Bay rental market into play at a point when the Dubai Canal promenade is expected to be a fully mature lifestyle destination. This is an efficient entry into a proven address. Speak to the Dubai Housing team now to confirm current unit availability and the specific floor levels still available