DAMAC Towers by Paramount — Business Bay, Dubai

DAMAC Towers by Paramount is a landmark 63-storey residential development rising dramatically over Business Bay, Dubai's thriving central business district. Delivered in partnership with Paramount Hotels & Resorts — the iconic Hollywood-inspired hospitality brand — this development brings a rare fusion of cinematic glamour and five-star hotel-serviced living to one of Dubai's most sought-after addresses. With approximately 1,200 units spanning studios, one-, two-, and three-bedroom apartments, and exclusive penthouses, the tower caters to a diverse spectrum of residents and investors seeking premium branded accommodation. The architecture draws on Paramount's signature Hollywood aesthetic, with interiors that reflect the golden age of cinema through bold design choices, warm tones, and curated artwork throughout common areas. Residences are finished to a high standard, with open-plan layouts, floor-to-ceiling glazing framing sweeping views of the Dubai Canal, Burj Khalifa, and the broader Business Bay skyline. Residents benefit from full access to hotel-grade services including concierge, housekeeping, and in-room dining — a lifestyle proposition that blurs the boundary between hotel living and private ownership. Business Bay itself has evolved into one of Dubai's most dynamic urban communities, home to multinational corporations, boutique restaurants, rooftop bars, and the scenic Dubai Water Canal promenade. DAMAC Towers sits at the heart of this energy, offering residents immediate access to the waterfront walkway, cycling tracks, and an ever-expanding dining and retail scene. Downtown Dubai and the Burj Khalifa are just minutes away, placing residents at the centre of Dubai's cultural and commercial gravity. Whether used as a primary residence, a holiday home, or a fully managed rental investment, DAMAC Towers by Paramount delivers a lifestyle that is distinctly cosmopolitan — where Hollywood-inspired luxury meets the ambition and pace of modern Dubai.

Developer: DAMAC Properties

Floors: 63

Total units: 1200

Unit sizes: 400 – 5,000 sqft

Amenities: paramount hotel services, pool, spa, gym, concierge, cinema

Facilities: Rooftop infinity swimming pool with skyline views, Dedicated children's swimming pool, Fully equipped cinema screening room, Business centre and co-working lounge, Dedicated valet parking service, 24-hour in-residence dining and room service, Housekeeping and laundry services, Dedicated hotel-style concierge desk, Retail outlets and F&B outlets at podium level, Private meeting and event function rooms

DRE Advisory: Branded residence in Business Bay. Hotel services available. Yield premium over unbranded comparable stock.

Nearby: Burj Khalifa (approx. 1.5 km), Dubai Mall (approx. 1.8 km), Dubai Water Canal Promenade (approx. 300 m), Dubai Opera (approx. 2 km), Coca-Cola Arena, City Walk (approx. 2.5 km), Museum of the Future (approx. 3.5 km)

Residential Building

DAMAC Towers by Paramount

Business Bay · Dubai · DAMAC Properties

2018
Year Built
63
Floors
1,200
Total Units
400–5,000
sqft range
AED 12–16 / sqft (est.)
Est. Service Charge / year
Estimated range based on community averages. Verify with the owners association before purchase.
District AI
UAE Property Intelligence
Available now

I can see you're looking at DAMAC Towers by Paramount in Business Bay, Dubai. Developed by DAMAC Properties in 2018. It's a residential building with 1200 units. DAMAC Towers by Paramount occupies a compelling niche in Dubai's investment landscape as a branded, hotel-serviced residence in Business Bay — a combination that consistently commands yield premiums of 15–25% above comparable unbranded stock in the same submarket. Service charge runs AED 14/sqft/year. What would you like to know — pricing, rental yields, or how it compares to similar buildings?

District AI · UAE Property Intelligence

About DAMAC Towers by Paramount

DAMAC Towers by Paramount is a landmark 63-storey residential development rising dramatically over Business Bay, Dubai's thriving central business district. Delivered in partnership with Paramount Hotels & Resorts — the iconic Hollywood-inspired hospitality brand — this development brings a rare fusion of cinematic glamour and five-star hotel-serviced living to one of Dubai's most sought-after addresses. With approximately 1,200 units spanning studios, one-, two-, and three-bedroom apartments, and exclusive penthouses, the tower caters to a diverse spectrum of residents and investors seeking premium branded accommodation. The architecture draws on Paramount's signature Hollywood aesthetic, with interiors that reflect the golden age of cinema through bold design choices, warm tones, and curated artwork throughout common areas. Residences are finished to a high standard, with open-plan layouts, floor-to-ceiling glazing framing sweeping views of the Dubai Canal, Burj Khalifa, and the broader Business Bay skyline. Residents benefit from full access to hotel-grade services including concierge, housekeeping, and in-room dining — a lifestyle proposition that blurs the boundary between hotel living and private ownership. Business Bay itself has evolved into one of Dubai's most dynamic urban communities, home to multinational corporations, boutique restaurants, rooftop bars, and the scenic Dubai Water Canal promenade. DAMAC Towers sits at the heart of this energy, offering residents immediate access to the waterfront walkway, cycling tracks, and an ever-expanding dining and retail scene. Downtown Dubai and the Burj Khalifa are just minutes away, placing residents at the centre of Dubai's cultural and commercial gravity. Whether used as a primary residence, a holiday home, or a fully managed rental investment, DAMAC Towers by Paramount delivers a lifestyle that is distinctly cosmopolitan — where Hollywood-inspired luxury meets the ambition and pace of modern Dubai.

DRE Advisory

Branded residence in Business Bay. Hotel services available. Yield premium over unbranded comparable stock.

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Community Feel

DAMAC Towers by Paramount attracts a cosmopolitan, aspirational crowd — professionals working in Business Bay and Downtown Dubai, creative entrepreneurs, and international second-home owners who appreciate the Hollywood-infused energy of the development. The vibe is vibrant yet polished: residents enjoy curated hotel-style common spaces, impromptu socialising around the pool deck, and easy access to the Dubai Canal waterfront for evening strolls. The building's hotel services foster a sense of effortless urban living, where daily needs are anticipated and catered to without residents having to leave the building.

Investment Outlook

DAMAC Towers by Paramount occupies a compelling niche in Dubai's investment landscape as a branded, hotel-serviced residence in Business Bay — a combination that consistently commands yield premiums of 15–25% above comparable unbranded stock in the same submarket. Gross rental yields typically range between 6.5% and 8.5% depending on unit type and management arrangement, with short-term rental strategies via the Paramount hotel pool often outperforming traditional long-term leasing. Demand drivers are strong and multi-layered: Business Bay's ongoing commercial expansion continues to attract corporate tenants and expatriate professionals, while the Paramount branding appeals to high-net-worth leisure buyers and those seeking a turnkey investment with hotel-managed operations. Capital appreciation has been supported by the scarcity of true branded residence inventory in the submarket and sustained interest from European, South Asian, and CIS investors. Buyers here typically include buy-to-let investors targeting short-term rental income, end-users from the hospitality and entertainment sectors drawn to the lifestyle proposition, and portfolio investors diversifying into the branded residence segment. The hotel-services infrastructure reduces management burden significantly, making this an attractive passive income vehicle.

Unit Types Available

Studio
1BR
2BR
3BR
Penthouse
apartmentstudiopenthouse

Amenities

paramount hotel services
pool
spa
gym
concierge
cinema

Building Facilities

Rooftop infinity swimming pool with skyline views
Dedicated children's swimming pool
Fully equipped cinema screening room
Business centre and co-working lounge
Dedicated valet parking service
24-hour in-residence dining and room service
Housekeeping and laundry services
Dedicated hotel-style concierge desk
Retail outlets and F&B outlets at podium level
Private meeting and event function rooms

Getting Around

DAMAC Towers by Paramount benefits from excellent connectivity within Business Bay. The Business Bay Metro Station on the Red Line is approximately 700 metres away, providing direct access to Downtown Dubai, Dubai Marina, and Dubai International Airport. Sheikh Zayed Road is accessible within a five-minute drive, connecting residents to the wider emirate. Downtown Dubai and the Burj Khalifa are a four-minute drive, Dubai International Airport is approximately 20 minutes away, and Dubai Marina is roughly 25 minutes by car.

Nearby Landmarks

  • Burj Khalifa (approx. 1.5 km)
  • Dubai Mall (approx. 1.8 km)
  • Dubai Water Canal Promenade (approx. 300 m)
  • Dubai Opera (approx. 2 km)
  • Coca-Cola Arena, City Walk (approx. 2.5 km)
  • Museum of the Future (approx. 3.5 km)

Nearby Buildings

The Opus by OMNIYAT, Business Bay
DAMAC Majestine, Business Bay
SLS Dubai Hotel & Residences, Business Bay
Aykon City, Business Bay
The Executive Towers, Business Bay

Frequently Asked Questions

Can owners place their unit into the Paramount hotel rental pool?

Yes. DAMAC Towers by Paramount offers owners the option to enrol their unit into a professionally managed short-term rental programme operated under the Paramount Hotels & Resorts brand. This arrangement allows owners to generate income from hotel-style bookings while benefiting from the brand's global marketing reach, with revenue sharing terms outlined in the individual management agreement.

What hotel services are available to residents?

Residents have access to a full suite of hotel-grade services including 24-hour concierge, housekeeping, in-residence dining and room service, valet parking, and laundry services. These services are managed by the Paramount Hotels & Resorts hospitality team, delivering a genuine hotel living experience to permanent residents and short-stay guests alike.

Is DAMAC Towers by Paramount suitable for short-term rental investment?

It is widely regarded as one of Business Bay's strongest short-term rental propositions. The Paramount branding attracts leisure travellers and corporate short-stay guests willing to pay a premium over standard serviced apartments. Investors targeting short-term rental income typically achieve gross yields in the range of 7–8.5%, outperforming many unbranded equivalents in the same area.

What unit types are available and what are typical size ranges?

The development offers studios, one-bedroom, two-bedroom, and three-bedroom apartments, as well as exclusive penthouse units on the upper floors. Studios typically start from approximately 450 sq ft, one-bedroom units range from around 750–950 sq ft, two-bedroom units from 1,100–1,400 sq ft, and penthouses offer significantly larger footprints with panoramic views of the Burj Khalifa and Dubai Canal.

How close is DAMAC Towers by Paramount to the Business Bay Metro Station?

The Business Bay Metro Station on the Dubai Metro Red Line is approximately 700 metres from the tower, making it comfortably walkable in around 8–10 minutes. This provides residents with direct, traffic-free access to key destinations including Downtown Dubai, DIFC, Dubai Marina, and Dubai International Airport, significantly enhancing the property's appeal to car-free residents and tenants.

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Building details are indicative and based on DRE research. Unit counts, sizes, and amenities may vary. Not investment advice. Verify all information with DRE advisors before transacting.

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