About Damac Paramount Towers

Damac Paramount Towers is an off-plan development by DAMAC in Business Bay, Dubai. Entry price is AED 1,220,100.

Damac Paramount Towers is a premium project by Damac Properties in the heart of Business Bay, comprising four 66-storey buildings designed in a Hollywood-inspired style. Three towers hold residences, from studios to one-, two- and three-bedroom apartments, while the fourth is a hotel. Sleek, contemporary interiors and functional layouts run throughout, united by a multi-level podium of restaurants, bars, event halls, spas, pools and shopping.

What is it?

The development is a landmark cluster of studios and one- to three-bedroom apartments wrapped around a resort-style amenity podium. That shared base brings together restaurants and bars, event halls, fitness centres, spas, swimming pools with a huge sun terrace and panoramic views, recreation areas, cinemas, a children's club and a retail zone. With a hotel component alongside the residences, the towers offer a serviced, lifestyle-led environment that suits both full-time living and investment, and each residence pairs a modern aesthetic with a practical layout. At 66 storeys, the towers also command sweeping views across Business Bay, the canal and the Downtown skyline from their upper floors.

Why this location?

Business Bay is a commercial, residential and business hub straddling the Dubai Water Canal, with Downtown, Burj Khalifa, the Opera district, Dubai Mall and Souq Al Bahar just steps away. The complex faces directly onto Al Abraj Road, which connects to the Ras Al Khor highway, making it easy to move between districts, and public transport is close, with the Business Bay bus stop within walking distance and the Financial Centre and Business Bay Metro stations nearby. Everyday dining such as Fuchsia Urban Thai and grocery options including Spinneys and Carrefour sit close at hand.

What will it cost?

Prices range from AED 1,220,100 to AED 5,515,000, with homes sized from 476 to 2,801 sq ft on a freehold basis. Two payment plans are available: one covering Tower C and the Hotel with a post-handover component, and another for Tower A with no post-handover element. Buyers should budget for the standard 4% Dubai Land Department registration fee, and larger residences priced at AED 2,000,000 or above can also qualify the owner for the UAE Golden Visa and its long-term residency benefits.

Who is it for?

Paramount Towers suits professionals and city-lovers who want branded, amenity-rich living beside Downtown, as well as investors targeting a central Business Bay address with flexible payment options and hotel-style demand. The broad price range means it works for both entry-level buyers and those seeking larger family homes. As a branded, four-tower landmark on the edge of Downtown, Paramount Towers combines recognisable identity with a location that keeps tenants and buyers returning, a combination that underpins both its lifestyle appeal and its long-term investment case. Explore layouts, pricing and availability for Paramount Towers on offplans.com.

About DAMAC

DAMAC Properties is one of the largest private developers in Dubai and one of the most recognisable, partly through branded residences carrying names from outside property: Cavalli, de GRISOGONO, Versace. It builds at volume across the full range, from mid market apartments to villa communities with artificial lagoons.

What do they build?

Apartments, townhouses and villas, and a lot of them. The two things DAMAC is best known for are the master communities out along the Al Ain road, and the branded towers in the central districts. We are currently marketing 34 completed DAMAC properties from AED 55,000.

Where do they build?

DAMAC tends to build its own districts rather than buy into other people's, which is why so many carry the name.

Damac Lagoons: 24 properties
Business Bay: 2 properties
Damac Hills: 2 properties
Damac Hills 2: 2 properties
Jumeirah Village Circle: 2 properties
Al Marjan Island: 1 property

DAMAC Hills and DAMAC Lagoons are the two large villa and townhouse communities. Business Bay and the central towers are a separate proposition entirely.

What should you check before buying?

Which phase, and what is still to be built. The lagoon communities are large and delivered in clusters. An early cluster means living beside construction for years.
Service charges on the amenity heavy schemes. Lagoons, wave pools and landscaped beaches are expensive to run and that cost recurs annually.
How far out you actually are. Drive the commute at rush hour before you buy. The price difference against a central district is real, and so is the journey.
How much similar stock releases in the same year. DAMAC builds at volume, and in its own communities your competition at resale is often the same developer.
What a branded residence premium is buying you. Sometimes a genuinely different specification, sometimes a name on the lobby. Worth separating.

Are they a safe developer to buy from?

DAMAC has delivered at scale in Dubai over a long period, and completion is not the concern. The things to weigh are the ones that come with volume: a lot of comparable units arriving together, service charges on amenity led schemes, and locations that are cheaper because they are further out. All three are knowable before you commit.

All DAMAC projects