DAMAC Towers By Paramount Hotels & Resorts
- AVA000982DAMAC Towers By Paramount Hotels & Resorts, Sheikh Zayed Road, Business Bay, Dubai, United Arab Emirates
DAMAC Towers By Paramount Hotels & Resorts
- AVA000982DAMAC Towers By Paramount Hotels & Resorts, Sheikh Zayed Road, Business Bay, Dubai, United Arab Emirates
DAMAC Towers by Paramount Hotels & Resorts is an iconic hotel-and-residential complex in the heart of Dubai's prestigious Burj area, on the edge of Business Bay and Sheikh Zayed Road. The development comprises four 270-metre towers of 68 storeys each: three towers house circa 1,140 luxury serviced apartments, while the fourth is the 823-key Paramount Hotel Dubai. A multi-level plaza links the towers and offers speciality dining, a dine-in cinema, wellness and fitness centres, a temperature-controlled swimming pool and a Kids Studio Club. Interiors channel a 'California cool' Hollywood aesthetic with high-end finishes. Studio and one-bedroom serviced apartments are offered with city, pool and premium views, close to DIFC, Downtown Dubai, the Dubai Water Canal and Dubai International Airport. The project is ready and the Paramount Hotel is operational.
Property Details
- Micro-market
- Business Bay
- Configuration
- Apartment
- Property Type
- Apartment
- Built-up Area
- 1,065.09 sq ft
- Year Built
- 2018
- Status
- Completed
Project Timeline
Key milestones for this project, updated as the developer confirms them.
Project announcement
Booking Started
Construction Started
Completion
Available Properties
Project variants for under-construction developments - unit types, sizes, starting prices and possession dates.
Inventory Type
| Variant | Size | Starting Price | Possession | CTA |
|---|---|---|---|---|
| Studio | 451.22 sq ft | ₹2.82 Cr | Completed | |
| 1 BHK | 1,065.09 sq ft | ₹6.38 Cr | Completed | |
| 2 BHK | - | Price on request | Completed | |
| 3 BHK | - | Price on request | Completed |
Amenities
Indoor
- Dine-in cinema
- Fitness centre
- Wellness and spa centre
- Kids Studio Club
- Speciality dining and F&B outlets
- Gourmet grocer
- Paramount Hotel Dubai
- Hotel lobby lounge and concierge
Outdoor
- Temperature-controlled swimming pool
- Multi-level retail and dining plaza
Parking
- Covered parking
Security
- 24-hour security
Property Information
- Community: Business Bay
- Project Name: DAMAC Towers by Paramount Hotels & Resorts
- Listing Price: ₹6.38 Cr
- List Date: Aug 4, 2026
- Listing ID: AVA000982
- Status: Completed
- Security: 24-hour security
Legal Information
Indicative legal & tax information based on available documents; verify with your lawyer before transacting.
- RERA Applicable
- Yes
- Occupancy Certificate
- No
- Authority
- Dubai Land Department (RERA)
- Fire NOC
- No
Can you own this, and how?
Ownership rights depend on three things: the type of asset, where it sits, and who you are as a buyer. Here is the framework for this property, before you speak to a lawyer.
I am buying as:
- Status
- Permitted, freehold anywhere in Dubai
- What you actually hold
- You hold freehold title registered with the Dubai Land Department. There is no area restriction on where you may own.
- Key rules and restrictions
- GCC nationals are treated on the same footing as UAE nationals for ownership purposes.
- A company owned wholly by GCC nationals gets the same treatment.
- Some master communities impose their own transfer conditions through the developer.
- Funds and process
- Pay through UAE banking channels. The transfer completes at a Dubai Land Department trustee office where the title deed is issued on the day.
- Taxes
- The Dubai Land Department transfer fee is 4% of the price, split 2% each in law but paid in full by the buyer in most deals, plus a trustee office fee and a title deed issuance fee. There is no annual property tax and no capital gains tax in the UAE.
- Verify before you buy
- Get a title deed copy and check it against the Dubai REST app.
- Ask for the developer no-objection certificate confirming service charges are clear.
Buyer orientation, not legal advice. Ownership rules change and turn on specifics. Confirm with a qualified lawyer in the UAE before you commit.
Investment Information
- Type: Branded serviced apartment (Paramount Hotels & Resorts operated)
- Model: Paramount Hotels & Resorts operated
About the developer
DAMAC Properties is a Dubai-headquartered residential developer founded in 2002 by Hussain Sajwani, and one of the largest private developers in the UAE. It builds master communities and towers in Dubai and internationally, and is known for fashion-branded residences developed with houses such as Versace and Cavalli. The company was previously listed on the Dubai Financial Market and is now privately held by the Sajwani family.
Location
DAMAC Towers By Paramount Hotels & Resorts, Sheikh Zayed Road, Business Bay, Dubai, United Arab Emirates
- Airport: Dubai International Airport (DXB)
- Railway: Business Bay Metro Station - 2.8 km
- Highway: Sheikh Zayed Road (E11) and Al Khail Road
- Hospital: Mediclinic Dubai Mall - 2.8 km
- Grocery: Supermarkets within 0.5 km
- School: GEMS Wellington Primary School - 4.2 km
Around this home
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Ownership economics
Will this home pay for itself?
1Buy
What you pay to own it.
2Earn
What it brings in as a holiday rental.
3Grow
What it could be worth.
Social Infrastructure
Key education, healthcare, and dining amenities near this property.