Along the Dubai Water Canal in the heart of Business Bay, DAMAC Canal Heights 2 is a 49-storey de Grisogono-branded residential tower offering studios, 1 and 2-bedroom apartments, and 3 and 4-bedroom super luxury duplexes from AED 1.37 million. Developed by DAMAC Properties in collaboration with the Swiss jewellery house de Grisogono, the building's signature feature is an underwater pearl museum a statement that captures exactly what kind of address this is. Views, brand, and a central Dubai location in one package.
DAMAC Canal Heights 2 is a 49-storey branded residential tower on the Dubai Water Canal in Business Bay one of Dubai's most active mixed-use districts, sitting between Downtown Dubai and DIFC. The project is a collaboration between DAMAC Properties and de Grisogono, the Swiss high-jewellery house, continuing the brand partnership that produced the original Canal Heights tower. DAMAC Properties, founded in 2002, has delivered over 46,000 homes across the UAE, Saudi Arabia, and international markets with a portfolio that spans branded residences, master communities, and hospitality-linked projects. Canal Heights 2 brings a second de Grisogono chapter to the same canal-facing plot, with expanded unit types and an elevated amenity programme.
Canal Heights 2 delivers studios, 1 and 2-bedroom apartments (floors 2 to 38), and 3 and 4-bedroom super luxury duplexes on floors 40 to 43, ranging from 437 to 3,992 sq.ft. Every unit features floor-to-ceiling windows with canal or city views, private balconies, and interiors shaped by de Grisogono's jewellery-inspired vocabulary marble surfaces, gold-finish fixtures, curved mirror elements, and glass ceiling details. Smart home automation covers lighting, blinds, and air conditioning across all configurations. The duplexes on the upper floors occupy premium positions with panoramic views of the Burj Khalifa corridor and the water canal below.
Canal Heights 2 sits directly on the Dubai Water Canal a 3.2-kilometre waterway connecting Business Bay to the Arabian Gulf, with a promenade that runs the length of the canal and connects to City Walk, the Dubai Fountain, and the wider Marasi Drive waterfront. The tower's podium delivers a shell-shaped swimming pool, infinity lap pool, multipurpose domes, and an underwater pearl museum the kind of feature that has no equivalent in any other residential building on the canal. The broader Business Bay district is home to over 300 commercial towers, 30-plus hotels, and a retail and dining strip that runs along the canal edge, placing residents within walking distance of a complete urban lifestyle infrastructure.
Business Bay 1-bedroom apartments yield an average of 6.3% gross consistently among Dubai's strongest yields for a central urban address. Transaction pricing at Canal Heights 2 has reached AED 2,851 per sq.ft, indicating strong secondary market demand for the de Grisogono brand at this location. Entry from AED 1.37 million places buyers below the AED 2 million Golden Visa threshold for entry configurations, while upper-floor and duplex units cross the threshold qualifying those buyers for the UAE's 10-year Golden Visa. There is 0% capital gains tax and 0% income tax on rental returns. DAMAC escrow-protects all off-plan payments under Dubai Land Department regulation.
DAMAC Canal Heights 2 offers studios, 1 and 2-bedroom apartments (437-1,815 sq.ft) on floors 2 to 38, and 3 and 4-bedroom super luxury duplexes (up to 3,992 sq.ft) on floors 40 to 43 all with canal-facing balconies and de Grisogono-designed interiors.
Canal Heights 2 anchors its amenity programme around the Dubai Water Canal and de Grisogono's jewellery-inspired design vocabulary. The shell-shaped swimming pool and infinity lap pool face the canal. The underwater pearl museum unique to this building occupies a below-water level and serves as both a lifestyle feature and a brand statement. The wellness deck covers a spa, sauna, steam room, and fitness facilities. Above, the rooftop terrace delivers unobstructed views across the Burj Khalifa corridor. For daily living, canal-side dining, retail, and the City Walk promenade are within walking distance of the front entrance.
Business Bay is Dubai's primary mixed-use urban district a 2.2 square kilometre zone between Downtown Dubai and DIFC, built along the 3.2-kilometre Dubai Water Canal. It houses over 300 commercial towers, dozens of five-star hotels, and a growing residential population drawn by proximity to DIFC, the Burj Khalifa, and Dubai Opera. Canal Heights 2 sits on Marasi Drive at the canal's edge giving it the address, the view, and the walkability that towers even a block back cannot replicate. The Dubai 2040 Urban Master Plan identifies Business Bay as a key densification zone, with continued investment in canal-side infrastructure, retail, and public space.
Content Reviewed By: Vikas Taneja — RERA Certified Broker (BRN: 82127), Honey Money Real Estates L.L.C. (ORN: 28658). Advising HNI and NRI buyers on Dubai off-plan and ready property, with direct transaction experience across Downtown Dubai, Dubai Creek Harbour, MBR City, Sobha Hartland, The Valley, and Dubailand communities.
Company Authority: Honey Money Real Estates L.L.C. is a DLD-registered brokerage (ORN:28658) operating under Dubai’s Real Estate Regulatory Agency (RERA). All project data on this page is cross-checked against the developer’s official documentation and DLD records. Pricing and availability are market-indicative at the time of review and subject to change.
DAMAC Canal Heights 2 is located on Marasi Drive in Business Bay, Dubai directly on the Dubai Water Canal. The tower is 5 minutes from the Burj Khalifa, 8 minutes from Dubai World Trade Centre, and 13 minutes from Dubai International Airport. It sits adjacent to the original Canal Heights tower.
Canal Heights 2 offers studios, 1 and 2-bedroom apartments (floors 2-38) ranging from 437 to 1,815 sq.ft, plus 3 and 4-bedroom super luxury duplexes (floors 40-43) up to 3,992 sq.ft. All units feature de Grisogono-designed interiors, floor-to-ceiling windows, private balconies, and smart home automation.
You can book a unit in DAMAC Canal Heights 2 with 20% down. Starting prices begin from AED 1.37 million for a 1-bedroom apartment. Contact the Dubai Housing team for current unit availability and to explore more apartments at Business Bay on our community page.
Canal Heights 2 operates on a 20/60/20 construction-linked plan. Twenty percent is due on booking, 60% is paid across construction milestones through late 2027, and 20% is due on handover in Q4 2027. This structure distributes 80% of the purchase price across the construction period, with only 20% required upfront.
DAMAC Canal Heights 2 is scheduled for handover in Q4 2027. Construction began in June 2023, with main building work being carried out by ABR Al Mutawassit Contracting. DAMAC Properties has delivered over 46,000 units across its UAE portfolio and has an established track record on Business Bay developments.
Yes units at DAMAC Canal Heights 2 valued at AED 2 million or above qualify buyers for the UAE's 10-year Golden Visa. Upper-floor 2-bedroom apartments and all duplex units typically exceed this threshold. Confirm the specific unit value with the Dubai Housing team to verify Golden Visa eligibility before proceeding.
Canal Heights 2 combines three investment drivers: a de Grisogono brand premium (secondary market transactions reaching AED 2,851 per sq.ft), a canal-facing address in Business Bay where 1-bedroom units yield 6.3% gross, and entry pricing from AED 1.37 million in Dubai's most active commercial district. Add 0% capital gains tax, 0% income tax on rentals, and RERA escrow protection.
Limited Period: Free DLD Waiver on select units
