Business Bay · Damac Properties
Located in Business Bay, completed in 2018. Developer — Damac Properties. Architect — KEO International Consultants.
Specifications for Damac Towers by Paramount per Propsearch and the Dubai Land Department. They describe the whole building, not the individual unit.
Damac Towers by Paramount is a residential complex of several buildings in Business Bay, completed in 2018.
The developer is Damac Properties. The architecture is by KEO International Consultants.
The tallest tower rises 66 storeys.
The database currently holds 3 lots in this project, from 1 890 000 AED.
Four 66-storey towers by Damac in Business Bay, handed over in 2018. The complex launched under the Paramount Pictures brand and lost the licence after completion — a case worth understanding before assuming a branded tower keeps its name forever.
Damac Towers by Paramount is a four-tower complex by Damac Properties, engineered by KEO International Consultants, standing 66 storeys each in Business Bay, handed over in 2018. Individual towers are listed separately in our data as Paramount Tower B and Paramount Tower D.
The complex launched marketed under the Paramount Pictures brand — Hollywood studio-themed interiors, cinema-adjacent amenities, the studio's name across the marketing. Damac Properties itself is the developer; Paramount was a licensed hospitality and interiors brand layered on top.
Brand-name towers occupy the top of Business Bay's price table — Bugatti Residences, Vela by Omniyat, Burj Binghatti Jacob & Co among them. A complex that has since lost its own branding sits differently within that same table.
| Project | AED / ft² | Lots | Avg. size |
|---|---|---|---|
| Lumena Alta | 8082 | 6 | 2578 ft² |
| Bugatti Residences | 7945 | 6 | 6415 ft² |
| Vela by Omniyat | 6213 | 3 | 6321 ft² |
| Burj Binghatti Jacob & Co | 5865 | 38 | 1924 ft² |
| Jumeirah Living Business Bay | 4926 | 9 | 3330 ft² |
| Peninsula Two | 3058 | 4 | 412 ft² |
| Mama Shelter | 3030 | 4 | 578 ft² |
| J One | 3029 | 4 | 2174 ft² |
| Al Habtoor City | 2967 | 8 | 1696 ft² |
| Trillionaire Residences | 2890 | 5 | 913 ft² |
| Peninsula Four B | 2819 | 4 | 612 ft² |
| Peninsula | 2817 | 9 | 1292 ft² |
| The Crestmark | 2770 | 5 | 1229 ft² |
| The Sterling | 2754 | 3 | 1479 ft² |
| Quayside | 2651 | 6 | 1070 ft² |
| Canal Crown | 2559 | 3 | 718 ft² |
| Binghatti Aquarise | 2540 | 3 | 955 ft² |
| Chic Tower | 2396 | 3 | 899 ft² |
| Aykon City | 2215 | 5 | 1313 ft² |
| Executive Towers | 1856 | 4 | 2158 ft² |
| Nobles Residential Tower | 1844 | 3 | 1265 ft² |
Our own stock as of 28 August 2026: 368 lots across the district, median AED 3.58 million, average AED 3,585/ft². Projects with three or more lots and a known area only — 123 lots with an area contradicting the bedroom count were excluded from the calculation.
A hospitality or lifestyle brand attached to a building is a licensing agreement, not a permanent architectural feature — it can end. When it does, the building itself is unchanged, but the positioning that justified part of the original price is gone.
The practical lesson for any buyer looking at a maison-, studio- or designer-branded tower anywhere in Dubai — Baccarat, Cavalli, de Grisogono among the current crop — is to ask directly: what is the term of this specific brand licence, who holds it, and what is contractually specified for the building if it is not renewed? It is the same question buyers of hotel-branded residences ask in Miami, New York or London, where hospitality licences occasionally lapse or change hands over a building's decades-long life.
This is not a reason to avoid branded residences — most licences run for the life of the building or renew routinely. It is a reason to read the actual contract rather than assume the marketing name is permanent, which is exactly what happened here.
Factsheet: 66 storeys, developer Damac Properties, handed over 2018. Our own stock as of 28 August 2026: lots across Towers B and D, price-per-square-foot table across Business Bay projects.
Damac Properties. The architecture is by KEO International Consultants.
66 — that is the tallest building of the complex.
Yes. Damac Towers by Paramount was handed over in 2018 — it is ready housing you can live in or let straight after the deal.
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 3 lots in this project, from 1 890 000 AED. Prices move every day, so it is worth asking for the current list for this building.
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.
I will send the available layouts, the real entry price and what owners and tenants actually say about the building — without the brochure language.
Telegram is the fastest way — I answer personally.
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