Damac Towers by Paramount in Business Bay - Dubai residental property project

Cap rates, sales prices, rents and deal volumes

Sales prices for completed properties in Damac Towers by Paramount

Rooms	Size, sqm	Sale price, AED/sqm	Sale price, AED
1	102	16,507	1,676,575
2	130	16,987	2,200,000
3	174	14,355	2,500,000

Rents in Damac Towers by Paramount

Rooms	Size, sqm	Rent, AED/sqm/ year	Rent, AED
1	90	1,198	108,146
2	137	1,107	151,250
3	164	1,143	187,727

The cap rate (rental yield) of investments into Damac Towers by Paramount project is 7.4% on average.

The price of an apartment in Damac Towers by Paramount is 15,730 AED/sqm on average.

Price for completed 1 bedroom apartment in Damac Towers by Paramount is 1,676,575 AED or 16,507 AED/sqm.
Price for completed 2 bedroom apartment in Damac Towers by Paramount is 2,200,000 AED or 16,987 AED/sqm.
Price for completed 3 bedroom apartment in Damac Towers by Paramount is 2,500,000 AED or 14,355 AED/sqm.

Rent in Damac Towers by Paramount is 14,355 AED/sqm/year on average for long term rent of an apartment.

Rent for 1 bedroom apartment in Damac Towers by Paramount is 108,146 AED or 1,198 AED/sqm.
Rent for 2 bedroom apartment in Damac Towers by Paramount is 151,250 AED or 1,107 AED/sqm.
Rent for 3 bedroom apartment in Damac Towers by Paramount is 187,727 AED or 1,143 AED/sqm.

About Damac Towers by Paramount

'Damac Towers by Paramount' in 'Business Bay' area project description

Damac Towers by Paramount is a luxurious residential and hotel development located in the heart of Dubai. The project is a joint venture between DAMAC Properties and Paramount Hotels & Resorts, and is set to become one of the most iconic landmarks in the city.

The project consists of four towers, each with its own unique design and style. The first tower is the Paramount Tower, which is a luxurious 5-star hotel. It features a grand lobby, a state-of-the-art fitness center, a spa, and a variety of restaurants and bars. The second tower is the Residences Tower, which is a residential tower offering luxurious apartments and penthouses. The third tower is the Executive Tower, which is a serviced apartment building offering a range of amenities. The fourth tower is the Business Tower, which is a commercial tower offering office spaces and retail outlets.

The development also features a range of amenities, including a swimming pool, a health club, a kids’ club, a business center, and a variety of restaurants and cafes. The project also includes a shopping mall, which is set to become one of the largest in the city.

Damac Towers by Paramount is set to become one of the most luxurious developments in the city. It is designed to offer an unparalleled level of luxury and comfort, and is sure to become an iconic landmark in Dubai. The project is set to be completed in 2021, and is sure to become a popular destination for both locals and tourists alike.

Q&A on Damac Towers by Paramount

What are the advantages of 'Damac Towers by Paramount' project in Dubai for property buyers? What are the disadvantages?

1. Prime Location: Damac Towers By Paramount is located in the heart of Dubai, close to the city’s major attractions, including the Burj Khalifa, Dubai Mall, and Dubai Marina.

2. Luxurious Amenities: The project offers a range of luxurious amenities, including a fully-equipped gym, swimming pool, sauna, steam room, and spa.

3. High-End Finishes: The apartments feature high-end finishes, such as marble flooring, Italian kitchens, and designer bathrooms.

4. Affordable Prices: The project offers competitively priced apartments, making it an attractive option for real estate buyers.

5. Flexible Payment Plans: Damac Towers By Paramount offers flexible payment plans, allowing buyers to pay in installments.

6. Rental Potential: The project offers good rental potential, making it an attractive option for investors.

What projects are better than 'Damac Towers by Paramount' project in Dubai which are located close by, and why?

1. The Opus by Omniyat: Designed by the legendary architect Zaha Hadid, The Opus stands out for its unparalleled architectural design, with a unique void at its center. It offers a mix of commercial and residential spaces, with interiors featuring high-end finishes and state-of-the-art facilities. Its artistic and futuristic appeal makes it a landmark in Business Bay.

2. Paramount Tower Hotel & Residences by DAMAC: Although developed by the same company, this project offers a more contemporary design and enhanced facilities compared to Damac Towers by Paramount. The strategic location along Sheikh Zayed Road ensures better access and visibility.

3. The Pad by Omniyat: Known as one of the most technologically advanced buildings in Dubai, The Pad offers smart home automation and innovative design features. Its unique tilted architecture and luxurious interior designs cater to tech-savvy investors and residents.

4. Habtoor City: This project encompasses three luxury residential towers, three high-end hotels, and world-class amenities, including the Dubai Water Canal. Its comprehensive lifestyle package offers unmatched amenities, such as tennis academies, fine dining, and leisure facilities.

5. AYKON City by DAMAC: Located just off Sheikh Zayed Road, this project promises a "city within a city" experience. Offering residential, commercial, and hospitality spaces, AYKON City features the world-famous AYKON Dare adventure experience on its roof, providing a blend of thrill and luxury.

6. Bahwan Tower: This residential building offers high-quality living spaces with modern amenities. Well-regarded for its spacious apartments and contemporary designs, it is a preferred choice for those seeking a balance between luxury and practical living.

7. Vezul Residence: This is a high-class residential tower providing extraordinary views of the Dubai Canal and the city skyline. The apartments come with modern furnishings, high-quality finishes, and a host of amenities, making it a competitive option in Business Bay.

8. Noora Tower, Al Habtoor City: Part of a mixed-use development, Noora Tower offers luxurious residences with expansive views of the Dubai skyline and the Arabian Gulf. It features ultra-modern amenities like infinity pools, gyms, and fine dining options.

Each of these projects offers distinct advantages in terms of design, amenities, location, and overall lifestyle, making them strong competitors to Damac Towers by Paramount.