Damac Canal Heights 2 is the latest, 45-storey luxury residential tower developed by Damac Properties, located on the Dubai Water Canal in Business Bay. The development is the striking sequel to the successful Canal Heights and is co-branded with the famous Swiss luxury jeweler De Grisogono. The architecture, showcasing a dynamic and curved exterior, and the interiors are inspired by the clarity and brilliance of the Blue Topaz gemstone.
The development gives a range of waterfront residences, adding premium Studios, 1 & 2-Bedroom Apartments, and super luxury 3 & 4-Bedroom Duplex Apartments. This particular development gives a refined lifestyle with exceptional views of the Dubai Canal and the iconic Burj Khalifa.
Property Details
| Detail | Description |
| Developer | Damac Properties |
| Location | Business Bay, Dubai Water Canal |
| Property Type | Luxury Branded Apartments & Duplexes |
| Starting Price | From 1.23M AED (Studio) |
| Government Fee | 4% DLD Fee |
| Unit Status | Off-Plan / Under Construction |
| Ownership | Freehold |
| Estimated Completion | Q3 – 2027 |
| Views | Dubai Canal, Burj Khalifa, Downtown Dubai Skyline |
Features & Amenities
Canal Heights 2 gives a curated, gem-inspired set of high-end amenities that focus on luxury, social engagement, and wellness, reflecting the De Grisogono brand.
| Feature Category | Amenities & Details |
| Signature Branded Features | Elite Stars Club (\Exclusive social hub), Jewellery Cafe (\Designer dining spot), Stars Lake Infinity Pool (\Rooftop pool with bioluminescent edge), \Beauty Salon (\Blue Topaz themed), \Curated Walkways |
| Wellness & Recreation | Gymnasium (\State-of-the-art), Health Care Centre (\World-class facilities), \Swimming Pool (\General), Infinity Pool (\Lap Pool), Basketball Court, Tennis Courts, \Yoga and Pilates Studio |
| Leisure & Community | Kids Play Area, Green Surrounding (\Landscaped Areas), Multi Purpose Lounge, Restaurants and Dining Outlets, Retail Outlets, Supermarket (Proximity) |
| Convenience & Access | 24×7 Security, Parking Facility (\Covered), Marina & Yacht Club (\Proximity/Access), \Waterfront Promenade Access |
Location & Connectivity
Located in the core of Business Bay, the development gives phenomenal access to Dubai’s financial, leisure, and retail hubs.
- Key Destinations (Estimated Drive Times):
- 8 Minutes to Burj Khalifa
- 9 Minutes to The Dubai Mall
- 10 Minutes to Dubai International Financial Centre (DIFC)
- 10 Minutes to Dubai Opera
- Airport Access (Estimated Drive Times):
- approx 15 Minutes to Dubai International Airport (DXB)
- Local Access: Direct waterfront access via the Dubai Canal promenade and fast connections to Sheikh Zayed Road.
Payment Plan
The project showcases a straightforward, construction-linked payment plan that balances initial outlay with a final payment upon handover.
| Stage | Percentage (%) | Notes |
| Down Payment | 10% | On Booking Date |
| During Construction | 40% | Paid over 1st to 18th Installment |
| On Handover | 50% | Due upon 100% Completion in \Q3 2027 |
Floor Plans
Residences in Canal Heights 2 feature interiors inspired by the Blue Topaz, utilizing cascading ures, muted colours, plus premium materials to create an elegant and tranquil atmosphere.
| Unit Type | Configuration | Size Range (SQ. FT.) | Key Feature |
| Apartment | Studio | 436 to 480 | Efficient luxury living space. |
| Apartment | 1 Bedroom | 610 to 928 | Spacious apartment with waterfront or skyline views. |
| Apartment | 2 Bedrooms | 1,284 to 1,800 | Family-sized units with premium finishes. |
| Duplex Apartment | 3 Bedrooms + Maid | 2,179 | Luxury duplex layout for superior space and privacy. |
| Duplex Apartment | 4 Bedrooms + Maid | 4,666 (Approx.) | Ultra-luxury duplex with expansive views (some units may feature a private pool). |
Why Invest in Damac Canal Heights 2
- De Grisogono Branded Luxury: The entire project is co-branded by the high-end Swiss jeweler De Grisogono, ensuring world-class, jewel-inspired design and guaranteed investment prestige.
- Unique Wellness Amenities: Exclusive features like the Jewellery Cafe, the Elite Stars Club, and the Stars Lake Infinity Pool (\with bioluminescent lighting) offer a futuristic, luxurious lifestyle that stands out in the market.
- Prime Waterfront Location: Situated directly on the Dubai Water Canal in Business Bay, it guarantees stunning views of the water and the iconic Burj Khalifa, ensuring sustained demand and high rental yields.
- Balanced Investment Profile: Offering a mix of Studios for investors and large \4 BR Duplexes for end-users, combined with a \50/50 payment plan, this project is attractive to a wide segment of the luxury market.
FAQs About Damac Canal Heights 2
Q: What is the design inspiration for Canal Heights 2?
A: The project’s design and interiors are inspired by the clarity and brilliance of the Blue Topaz gemstone.
Q: Does the property offer duplex units?
A: Yes, the development includes super-luxury 3-Bedroom and \4-Bedroom Duplex Apartments.
Q: When is the project scheduled for completion?
A: The estimated completion and handover date for Canal Heights 2 is Q3 – 2027.
Q: Who is the branding partner for this tower?
A: The project is branded in collaboration with the renowned Swiss luxury jeweler, De Grisogono.
Contact Cresco Real Estate Today
Damac Canal Heights 2 is a compelling opportunity to invest in a De Grisogono-branded, waterfront apartment in Dubai’s premier business district. To secure your unit and receive the detailed pricing, floor plans, and current availability, contact the Cresco Real Estate team today.
Phone: +971 52 102 1429
Email: info@crescorealestate.ae
More about Business Bay
Read the Cresco area guide to Business Bay. Prices, rental yields, handover timelines, schools, commute times and what actually sells there.
Open the Business Bay area guide
You may also want to read how buying off plan works and work out the rental yield.
What buyers actually registered in Business Bay
Dubai Land Department registered transactions, not advertised asking prices.
Between 30 June 2026 and 18 August 2026, 655 residential sales were registered in Business Bay. The median was AED 1,738,630 and the middle half fell between AED 1,217,500 and AED 2,850,004. This project is advertised from AED 1,230,000, which sits inside that range.
For the unit type this project leads with, 1 B/R, the registered median in Business Bay was AED 1,540,000 across 215 sales, at AED 2,072 per square foot and a median size of 813 sq ft.
| This project, advertised entry price | AED 1,230,000 |
| Registered median price, Business Bay | AED 1,738,630 |
| Middle half of registered sales | AED 1,217,500 to AED 2,850,004 |
| Registered median per sq ft | AED 2,121 |
| Registered median unit size | 880 sq ft |
| Share bought off plan | 38% |
| Ready stock, median per sq ft | AED 1,849 from 406 sales |
| Off plan stock, median per sq ft | AED 2,584 from 249 sales |
| Registered residential sales in the period | 655 |
Registered sales by bedroom count in Business Bay
| Type | Sales | Median price | Per sq ft | Median size |
|---|---|---|---|---|
| Studio | 118 | AED 985,000 | AED 2,085 | 448 sq ft |
| 1 B/R | 215 | AED 1,540,000 | AED 2,072 | 813 sq ft |
| 2 B/R | 112 | AED 2,464,270 | AED 1,855 | 1,366 sq ft |
| 3 B/R | 36 | AED 4,490,726 | AED 2,303 | 2,089 sq ft |
Source: Dubai Land Department open data. Registered sales of residential units between 30 June 2026 and 18 August 2026. Mortgages and gift transfers are excluded because they are not arms length sales. Sizes are converted from square metres at 10.7639 sq ft per sq m. The entry price shown for this project is our advertised starting price and is not a registered transaction. Community figures are medians across every project in the community, not this project alone. We do not publish a price per square foot for this project because advertised size ranges are not a reliable basis for that calculation.
What actually transacted in Business Bay
Before you judge a launch price, look at what the community around it registered. Over the last twelve months Business Bay recorded 19,309 registered rental contracts and 2,646 ready sales, all filed with the Dubai Land Department. These are signed contracts, not asking prices.
Rent registered at AED 119 per sqft against a ready sale price of AED 1,986 per sqft. That is a gross yield of 6.0% on ready stock in this community.
We use ready sale prices rather than blended prices deliberately. You cannot rent a home that has not been handed over, so an off plan launch price in a yield calculation produces a number that cannot happen.
Registered rents in Business Bay moved +2.3 against the twelve months before.
The shorter window disagrees. On the most recent three months of contracts the same community reads -10.4%. Summer seasonality and smaller samples both sit inside that number, but we publish it rather than quote only the figure that flatters the market.
| Unit type | Contracts registered | Average annual rent (AED) | Rent per sqft (AED) | Change vs 12 months earlier |
|---|---|---|---|---|
| Studio | 4,452 | 68,967 | 145 | +0.7 |
| 1 bedroom | 8,033 | 93,568 | 120 | +2.1 |
| 2 bedroom | 5,152 | 134,111 | 102 | +3.3 |
| 3 bedroom | 1,540 | 187,515 | 93 | +4.6 |
| All apartments | 19,309 | 108,453 | 119 | +2.3 |
Full Business Bay guide · Live Dubai market update · Run these numbers on a specific unit
Data verified 31 August 2026. Dubai Land Department registered transactions via Bayut TruView, rolling 12 months to August 2026.
