Paramount Tower Hotel & Residences

This ready studio at Paramount Tower Hotel & Residences by Damac Properties offers 520 sq ft on Sheikh Zayed Road in Business Bay, priced from AED 1,359,750 (about AED 2,615 per sq ft).

Paramount Tower Hotel & Residences is a 66-storey, 258-metre Damac Properties tower on Sheikh Zayed Road in Business Bay, completed in 2021 and opened in Q1 2022. The Dubai Land Department lists it as project 1665 with 799 units across residential and hotel-apartment components, completed in Q1 2022. Floors 15 to 25 hold a Hollywood-themed Paramount hotel and floors 26 to 63 hold the residences, which share Paramount-standard services and a rooftop swimming pool.

The tower is on Sheikh Zayed Road with quick access to Downtown Dubai, DIFC and the Dubai Canal.

The studio suits investors who want a ready, hotel-branded unit on Sheikh Zayed Road.

How does the price compare with Business Bay? Registered sales in Business Bay had a median of AED 2,431 per sq ft from 1 January to 1 October 2026 (Dubai Land Department, 4,754 sales). At about AED 2,615 per sq ft, this unit is around 8% above that median.

What rental yield can investors expect in Business Bay? The median annual rent was AED 95,000, a gross yield of about 4.6% over the same period (Dubai Land Department, 17,685 Ejari contracts in Business Bay). Actual returns depend on the unit, floor and current market conditions.

Is Paramount Tower Hotel & Residences ready to move in? Yes. The Dubai Land Department lists the project as finished, with completion in Q1 2022. Contact Platinum Square for current availability and viewings.