Studio Apartment in Damac Towers, Business Bay
About this property
Project general facts
Damac Towers by Paramount is an iconic mixed-use residential and hospitality development located in Dubai’s prestigious Burj area. The project consists of four striking towers rising approximately 270 metres above the city, with three towers dedicated to luxury residences and the fourth housing the Paramount Hotel. Inspired by the glamour of Hollywood, the development combines sophisticated architecture with cinematic design influences, offering a distinctive lifestyle experience in one of Dubai’s most sought-after locations near Downtown Dubai and the city’s major attractions.
The development features an extensive collection of premium amenities designed to reflect the luxury hospitality standards of the Paramount brand. A multi-level plaza connects all four towers and includes specialty restaurants, a dine-in cinema, wellness facilities, swimming pools, and a dedicated Kids Studio Club. Residents also benefit from access to the world-class facilities of the Paramount Hotel, creating an environment that blends residential comfort with five-star hotel services and entertainment-focused experiences.
The interiors are designed with exceptional attention to detail, combining elegant architectural finishes, thoughtfully planned layouts, and luxurious design elements inspired by the glamour of the film industry. Kitchens are fully equipped with modern appliances, while all residences are delivered fully furnished, creating a turnkey living experience that reflects the sophistication, comfort, and cinematic character of the Paramount brand.
Location description and benefits
Business Bay is one of Dubai’s most dynamic and fast-paced neighborhoods, known as the city's central business, commercial, and residential hub. Located just minutes from Downtown Dubai and the iconic Burj Khalifa, it offers a strategic location with seamless access to Sheikh Zayed Road and Al Khail Road. Business Bay is a prime destination for professionals, entrepreneurs, and investors looking to be at the heart of Dubai’s thriving economy, with a skyline defined by high-rise towers, luxury hotels, and modern office spaces.
Beyond its corporate appeal, Business Bay has evolved into a vibrant lifestyle destination. The area features a wide range of residential options, from upscale studios to spacious penthouses, many with stunning views of the Dubai Canal. Residents enjoy an urban lifestyle with access to fine dining, boutique cafes, waterfront promenades, gyms, and art spaces, all set against a backdrop of architectural elegance. The Dubai Water Canal also adds a touch of serenity, perfect for walks, boat rides, or simply enjoying the city lights by the water.
As one of the most well-connected and sought-after areas in Dubai, Business Bay continues to grow as a leading hub for luxury living and commercial innovation. Whether you're working, living, or investing, it offers the perfect blend of modern convenience, cosmopolitan energy, and high-end urban living, all in one prime location.
Amenities
Location & Lifestyle
Buy or rent in Business Bay, the Dubai Holding district along Dubai Creek and the Dubai Water Canal, next to Downtown Dubai. It has direct links to Sheikh Zayed Road and Al Khail Road and its own Red Line Metro station. Landmarks include Bay Square, Executive Towers, Bellevue Towers and the Marasi Business Bay marinas.
From 1 January to 12 November 2026, DLD recorded 3,839 apartment sales in Business Bay: 1,985 ready apartments at a median of AED 1,821 per sq ft and 1,854 off-plan apartments at a median of AED 2,667 per sq ft.
Business Bay ready apartment prices in 2026 (DLD data)
Studio: 467 sales, median price AED 990,000, median size 461 sq ft
1 bedroom: 851 sales, median price AED 1.45 million, median size 810 sq ft
2 bedrooms: 494 sales, median price AED 2.25 million, median size 1,313 sq ft
3 bedrooms: 142 sales, median price AED 3.47 million, median size 1,941 sq ft
Busiest buildings
Ready: Peninsula Three (148 sales), DAMAC Towers by Paramount (94), Peninsula Four (82), Prive by DAMAC (69)
Off-plan: Binghatti Aquarise (236 sales), Avarra by Palace and Al Habtoor Tower (160 each), Peninsula Four (130)
Rent and yield
What is the average rent in Business Bay? The median annual rent was AED 95,000, based on 17,685 Ejari contracts in Business Bay between 1 January and 1 October 2026.
What rental yield does Business Bay offer? About 4.6% gross, before service charges, fees and vacancy.
Who Business Bay suits
Buyers who want a central apartment next to Downtown Dubai and the Metro.
Investors looking at ready studios and 1-bedroom apartments, the most traded types.
Looking to buy in Business Bay? Platinum Square advisors can share current ready and off-plan options.
Source: Dubai Land Department open data: residential unit sales in Business Bay, 1 January to 12 November 2026 (medians are Platinum Square calculations); Ejari rents, 1 January to 1 October 2026.
Schools nearby
- Hartland International School
- JSS International (Al Safa)
Metro & transit
- Business Bay (Red Line)
Malls & retail
- Bay Avenue
- The Dubai Mall (1 stop)
Healthcare
- Aster Clinic Business Bay
- Emirates Hospital Clinic
Landmarks
- Dubai Water Canal
- Marasi Promenade
- Bay Square
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