Canal Crown
About Canal Crown
(sq. ft.)
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Canal Crown is a new premium residential addition by DAMAC Properties in the thriving area of Business Bay. Designed in collaboration with de GRISOGONO, the 2-tower complex of 38 storeys will be inspired by peridot, with elements of outer space. From floors 2 till 35, Canal Crown will house ‘luxury’ units, whilst the 36th and 37th floors will have ‘super-luxury’ properties.
The ‘luxury’ category includes studios and 1-2 bedroom apartments, whilst 3-4 bedroom duplexes are on sale in the ‘super-luxury’ segment. There will also be just one townhouse-duplex on the podium level. The size of properties ranges from 401 sq. ft to 4,761 sq. ft. DAMAC Properties additionally offers full floors of 7,630 sq. ft–13,946 sq. ft.
In terms of the layouts, each property will have a rounded balcony overlooking the Dubai Water Canal or the famous Burj Khalifa. At the same time, duplex owners will have a walk-in closet in the master bedroom, a maid’s room and a private swimming pool on their balcony.
The branded development will be designed to offer the ultimate recreational experiences thanks to the following amenities:
- UFO
- Aquatic gym
- Swim VR
- Planet-inspired garden
- Rooftop observation deck
- Promenade with retail and F&B venues
- Relaxation pods
Property Information
- Location Business Bay, Dubai, UAE
- Developer DAMAC
- Status of Project In progress
- Type of Project Residential Tower, Townhouses
- Available Units Studios-2BR Apartments, 3-4BR Duplexes, 2BR Townhouse-Duplex
- Area from 401 sq. ft.
- Payment Plan 80/20
Floor Plans of Canal Crown
Apartment
Type:
Studio
Total Area:
401 sq. ft.
Starting Price:
1,120,000 AED
Apartment
Type:
1 Bedroom
Total Area:
811 sq. ft.
Starting Price:
1,990,000 AED
Apartment
Type:
2 Bedrooms
Total Area:
1,457 sq. ft.
Starting Price:
3,420,000 AED
Duplex
Type:
3 Bedrooms
Total Area:
4,591 sq. ft.
Starting Price:
Ask for Price
Reflection Floor Plans
| Floor Plan | Type | Unit Type | Category | Total Area | Starting prices |
|
|
Studio | Apartment | 401 sq. ft. | 1,120,000 AED | |
|
|
1 Bedroom | Apartment | 811 sq. ft. | 1,990,000 AED | |
|
|
2 Bedrooms | Apartment | 1,457 sq. ft. | 3,420,000 AED | |
|
|
3 Bedrooms | Duplex | 4,591 sq. ft. | Ask for Price | |
|
|
4 Bedrooms | Duplex | Ask for Price |
Property Prices
As of May 2023, the starting cost for a 1-bedroom property is AED 1.99M (USD 542K). A duplex can be acquired for a minimum of AED 16.05M (USD 4.37M) and a full floor for AED 21.08M (USD 5.7M) at least.
If you are interested in moving to Business Bay, it is also worth considering Residence 110 by Select Group. The project offers ready to move in 1–3 bedroom apartments and a penthouse studio with high-quality finishes.
*The price is valid for 2023
Payment Plan
Location
Canal Crown will be located alongside the bank of the Dubai Water Canal, right next to Marasi Dr. Occupants will have direct access to Ras Al Khor Road, which will facilitate easy commutes around the rest of Dubai. As a result, many coveted destinations, including Dubai Creek Harbour, Festival City and Dubai International Airport, among many others, can be reached within 15 minutes by car. Thanks to the outstanding public transport infrastructure within the area, there are many bus stations close by, such as Fairview Residency 1 and Clayton Residency 2, just to name a few.
Within walking distance, one can reach the following social facilities:
- West Zone Fresh Supermarket
- Creative Kids Early Learning Center
- LIFE Pharmacy — Life Mayfair
- Raihan Chinese Medicine Center
Within about a 10-minute drive, there are a number of prestigious medical establishments, including Emirates Hospital Clinics – Business Bay and Aster Clinic Business Bay. It will take the same amount of time to get to Downtown Dubai, which is famed for a myriad of iconic attractions like the Burj Khalifa, Dubai Mall, Dubai Opera and many others.
Economic Appeal
The complex is due for completion in Q2 2027. When investing in Canal Crown real estate, you become eligible to apply for either a 2 or a 10-year visa depending on the value of the property. These residency schemes are priced at AED 750K (USD 204K) for a 2-year visa and a minimum of AED 2M (USD 545K) to obtain a 10-year Golden Visa.
Subsequently, you will be able to bring your spouse and children to the UAE as well, and a 10-year Golden visa also applies to domestic staff. Another perk of this residency type is an Esaad card with offers and promotions across more than 7,000 brands in the UAE and in 92 countries worldwide.
*The price is valid for 2023
Real estate in Canal Crown is a perfect commercial investment for those wishing to use a property for either a short or long-term rental. You can lease an apartment to business professionals, as they will have easy access to business facilities and the airport. The units will also be in strong demand among tourists who want to stay in a private residence within close proximity to attractions and entertainment venues in the city.
According to Property Finder, the gross ROI for 1-bedroom apartments in Business Bay has reached 5.8%, as of Q2 2023. The initial rental cost here is AED 58K (USD 16K) per annum. Such strong indicators guarantee a lucrative income and a rapid payback.
Please note that when acquiring a full floor, you can obtain a 2% discount and a 1% rebate. For more information, please contact our agents.
*The price is valid for 2023
FAQ
Canal Crown is being developed by DAMAC Properties.
The development is located in Business Bay.
One has the opportunity to select from a collection of studios, 1-2 bedroom apartments and 3-4 bedroom duplexes. There is also an exclusive 2-bedroom townhouse-duplex located on the podium level. Not forgetting the opportunity to acquire a full floor.
The estimated completion date is scheduled for Q2 2027.
You can use an 80/20 payment plan with a 20% booking fee.
As of May 2023, the initial price for a 1-bedroom property is AED 1.99M (USD 542K). A duplex costs AED 16.05M (USD 4.37M) at least and a full floor is priced at a minimum of AED 21.08M (USD 5.7M).
Yes, you can become a UAE resident through property investment in Canal Crown. The validity of your visa will depend on the acquisition value.
You can obtain a 2-year visa for an investment of AED 750K (USD 204K) and above. Another option is a 10-year Golden Visa, priced at a minimum of AED 2M (USD 545K).
Canal Crown is a freehold complex, enabling any nationality to become 100% property owners.
An apartment here is an excellent investment, as it will be popular to rent among tourists and business professionals. The gross average ROI in Business Bay is 5.8%, as of April 2023.
Canal Crown is set to become one of the area's most desired addresses among young couples, business professionals and entrepreneurs. The project offers easy access to famous landmarks and features unique amenities, including a UFO spa, a planet-inspired garden, a swim VR experience and much more.
Occupants of Business Bay can easily reach various coveted destinations thanks to the well-developed public transport infrastructure. The area has Fairview Residency 1 and Clayton Residency 2 bus stops, among other links.
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Metropolitan Premium Properties
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[email protected]
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+971 4 428 6151
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36th-38th Floor, Al Salam Tecom Tower,
Internet City, Dubai, UAE
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