Business Bay · Damac Properties
Photos and renders of the building and grounds — not of this particular unit.
49-storey residential building in Business Bay. Developer — Damac Properties. Architect — VX Studio Consultancy.
Specifications for Canal Heights 2 by Grisogono per Propsearch and the Dubai Land Department. They describe the whole building, not the individual unit.
Canal Heights 2 is a 49-storey residential building in Business Bay, currently under construction.
The developer is Damac Properties. The architecture is by VX Studio Consultancy.
The database currently holds 7 lots in this project, from 1 060 000 AED; 7 of them priced below the market, the deepest discount 21%.
A 49-storey Damac tower on the canal waterfront in Business Bay, under construction. Nine of our own lots — from AED 1.06 million (~$290K) to AED 6 million (~$1.63M).
Canal Heights 2 is a residential skyscraper in Business Bay by Damac Properties, architect VX Studio Consultancy. 49 storeys, stage: under construction. The factsheet gives no unit count; a pool and restaurants are confirmed.
The numbered name reflects its place in the lineup: the first phase, Canal Heights, stands next door. On propsearch both share a single page, so in our catalogue they're merged into one entry — the second redirects here.
Our nine listings run AED 1.06 to 6 million, at an average of around AED 2,627/ft² (~$715/ft²) — nearly half the Business Bay average (4,900, ~$1,335/ft²).
A sixfold difference between the extremes means the building holds compact studios and spacious upper-floor apartments side by side. "Average price by project" means nothing here: what needs comparing is like-for-like size and floor.
Nine offers in a single under-construction building is enough of a base for comparison and for negotiating.
The Dubai Water Canal is the part of Business Bay the district was reshaped for, from purely commercial to mixed-use — the kind of shift Canary Wharf or Marina Bay went through as pure business districts added waterfront residential towers. The waterfront promenade here already functions.
Position relative to the water matters more than the floor in mid-rise buildings in this stretch: a canal view and a courtyard view are different products at resale. Check the master plan for what will be built between the building and the water — in Business Bay, views get lost more often than buyers expect.
propsearch factsheet (storeys, developer, architect, stage, amenities) and our own stock as of 27 August 2026 (nine lots in the building, price per square foot for the building and for Business Bay).
The final payment on this building falls in 2027 — under off-plan plans that is 40–60% of the price in one go. A UAE bank closes it: the flat becomes the security, and nothing is added on top of what the developer has already been paid.
Already been invoiced, or missed the date? That is not a dead end either — write and we will look at what the developer will accept.
Ask on WhatsAppDamac Properties. The architecture is by VX Studio Consultancy.
49.
Construction is ongoing; the key-handover date for the unit you choose I check in the contract before you sign.
Business Bay. The canal district next to Downtown: conceived as offices, built mostly as apartments, now one of the most tenanted parts of the city.
The database currently holds 7 lots in this project, from 1 060 000 AED; 7 of them priced below the market, the deepest discount 21%. The list changes daily — I will send a fresh selection for the building on request.
What has been written about the building, its developer and Business Bay
Business Bay recorded 14 prime transactions in August 2026 against Palm Jumeirah's 10 — while Dubai-wide transaction volume fell 37% year-on-year and value fell 44%. Rental search demand rose 44% over the same period. What these seemingly contradictory numbers actually mean.
Corinthia Dubai, twin towers above 500 m on Sheikh Zayed Road with a rooftop pool and a Corinthia hotel, is due by 2030. Al Habtoor Group has announced an AED 5bn ($1.36bn) office tower in Al Habtoor City. What the two projects say about the market and who should care.
Omniyat bought a reclaimed island in Marasi Bay to build the Burj Khalifa district's only urban beach club and Sunset Park, a private floating island for VELA Viento residents. In March 2026 it priced a $600m sukuk at 7.25% and said its $11.7bn launched portfolio is fully funded to completion.
Deyaar is building DWTN (Downtown) Residences in Business Bay: twin 445 m, 111-storey towers with 522 homes — 432 apartments, 76 duplexes, 13 penthouses and a “Royal Palace”. From AED 1.86m with half due at keys. Construction began in January 2026; completion is quoted for 2029–2030.
In October 2024 Binghatti said it would lift its portfolio from about AED 40bn to AED 100bn ($27.2bn) in 18 months. In 2025 revenue reached AED 12.43bn, more than 17 000 units were sold, and the AED 30bn Binghatti City launched in Nad Al Sheba. What the growth means for buyers.
Downtown is Dubai's tourist and status core, around AED 2 433/sqft on our own data. Business Bay is the business district next door, home to 17 000+ companies, around AED 1 871/sqft. We compare lifestyle, rental economics and who should pick which.
SOM designed Burj Khalifa and a 74-metre metro station in Creek Harbour that will be the tallest in the world. Zaha Hadid Architects built The Opus and is now building Oystra in Ras Al Khaimah. What separates a real premium from a marketing line.
Three major office schemes are rising around DIFC and Business Bay: Immersive Tower ($300m, 58 573 sq m, 2027), Aldar's 88 000 sq m tower by Emirates Towers metro (Q4 2027), and an office park with a theatre on Business Bay's largest plot. Vacancy in central clusters sits at 2–5%.
The RTA and Dubai Holding signed an AED 6bn (about $1.6bn) road programme: four new JVC access points with interchanges, double the capacity and 70% shorter journeys. Hessa Street phase two adds a 780 m bridge and a 480 m tunnel out of JVC. What it means for owners and buyers.
Message me for the free layouts in Canal Heights 2, the real entry price and what owners and tenants say — not the brochure copy.
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