Dubai · New projects · Business Bay

DAMAC Canal Heights 2 — apartments for sale

Name: DAMAC Canal Heights 2 — Dubai
Brand: DAMAC Properties
Availability: InStock

The second phase of the de GRISOGONO-branded Canal Heights, set on the Dubai Water Canal in Business Bay, with jewel-inspired apartments from ~AED 2.8M.

See prices

🛡 RERA-licensed✈️ Remote deal · 2–3 weeks⏱ Reply within 1 hour

~AED 2.8M

1-bed from

~Q4 2027

handover

5-6%

gross yield

Business Bay

canal-front

By WIZI PREMIUM · Updated 27 June 2026

In short

DAMAC Properties, with Swiss jeweller de GRISOGONO, delivers Canal Heights 2 on the Dubai Water Canal in Business Bay. Branded studios to 4-bed apartments start from ~AED 2.8M for a 1-bed, with projected gross yields around 5-6%. It suits luxury investors and end-users wanting a design-led, canal-front address steps from Downtown and a strong central-Dubai rental market.

Developer: DAMAC Properties · Sources: developer brochure, Bayut, Property Finder, DLD · 2026

The project

de GRISOGONO canal-front phase two

Canal Heights 2 is the second phase of DAMAC's de GRISOGONO-branded development on the Dubai Water Canal in Business Bay. Jewel-inspired architecture and interiors run through studios, 1- to 4-bedroom apartments and duplexes, with canal and skyline views and resort-style amenities at the waterfront edge of Downtown.

As a branded canal-front product, Canal Heights 2 targets prestige rental demand and capital growth. One-bedroom apartments start from ~AED 2.8M, with 2-beds from ~AED 3.4M, on an 80/20 plan (20% booking, 60% during construction, 20% on handover) around Q4 2027. Central Business Bay supports gross yields near 5-6%.

Business Bay, Dubai

The setting

A look around Business Bay

Prices & payment · 2026

How much DAMAC Canal Heights 2 costs

Type	From	Gross yield
1 bedroom	~AED 2.8M	5.5-6%
2 bedroom	~AED 3.4M	5-5.5%
3 bedroom	from ~AED 6M	4.5-5%

Indicative 2026 launch pricing; varies by unit, floor and view. Payment plan: 80/20, 20% down. Sources: DAMAC Properties, Property Finder, DLD.

Market context

Dubai apartment price ladder

In Business Bay, apartments trade around AED 2,547/sqft — mid-range on the city's price ladder. Gross yields here run about 6–7%. Use this to sanity-check where DAMAC Canal Heights 2 sits on price.

Palm JumeirahAED 3,450

Downtown DubaiAED 3,011

Business BayAED 2,547

Dubai MarinaAED 2,058

Dubai Hills EstateAED 1,820

JVCAED 1,150

Dubai SouthAED 1,050

Average price / sqft by area · Source: Dubai Land Department transactions & Bayut, 2026 · indicative

Recent sales · DLD

What DAMAC Canal Heights 2 actually sold for

16 sales were registered at DAMAC Canal Heights 2 in Jan–Jun 2026, at a median of AED 3,663,090 (~AED 2,860/sqft). Most recent registered transactions:

Date	Beds	Status	Size	Price	AED/sqft
2026-06-26	Studio	Off-plan	458 sqft	AED 1,313,000	2,865
2026-06-03	1 B/R	Off-plan	809 sqft	AED 2,194,000	2,711
2026-04-16	2 B/R	Off-plan	1,326 sqft	AED 3,794,000	2,860
2026-04-13	3 B/R	Off-plan	2,207 sqft	AED 5,761,000	2,610
2026-04-13	1 B/R	Off-plan	965 sqft	AED 3,029,000	3,140
2026-04-13	2 B/R	Off-plan	1,313 sqft	AED 3,783,000	2,880

Source: Dubai Land Department — registered sales transactions, Jan–Jun 2026. Actual recorded deals, not asking prices.

Investment view

Is DAMAC Canal Heights 2 right for you?

In favour

de GRISOGONO-branded, jewel-inspired design
Canal-front Business Bay address near Downtown
80/20 payment plan, ~20% booking
Strong central rental demand and prestige appeal

Worth knowing

Branded premium pricing from ~AED 2.8M for 1-bed
Off-plan with handover around Q4 2027
Dense Business Bay, traffic and construction nearby
Yields modest versus suburban DAMAC communities

Calculator

Run the numbers

Currency

Purchase budget 2,800,000 AED

2.8M7.2M AED

Gross estimate from typical Business Bay yields; net is lower after service charges (AED 12–25/sq.ft). Off-plan rent applies after handover (~Q4 2027).

Monthly rent—

Annual income—

Gross yield—

Payback—

Get DAMAC Canal Heights 2 units that match this

A shortlist with floor plans, payment plan and yield breakdown — to your WhatsApp within the hour.

FAQ

Common questions

How much is an apartment at Canal Heights 2?

One-bedroom apartments start from around AED 2.8M, with 2-bedrooms from roughly AED 3.4M and larger duplexes well above AED 6M depending on floor and canal view.

What yield does Canal Heights 2 give?

Projected gross rental yields are around 5-6%, supported by strong central Business Bay and Downtown-adjacent rental demand.

When does Canal Heights 2 hand over?

Handover is targeted for around Q4 2027 on an 80/20 payment plan with about 20% at booking.

Is DAMAC Canal Heights 2 a good investment?

DAMAC Canal Heights 2 gives about 5-6% gross. Worth it if de GRISOGONO-branded, jewel-inspired design matters to you. The exact unit decides the net return; we model it before you commit.

What is the payment plan at DAMAC Canal Heights 2?

DAMAC Canal Heights 2 is offered on a 80/20, 20% down plan (developer terms, subject to availability). Handover is ~Q4 2027. We confirm the exact schedule and any current incentives per unit on request.

Does DAMAC Canal Heights 2 qualify for the Golden Visa?

Yes — units at DAMAC Canal Heights 2 from AED 2M qualify the buyer for the UAE 10-year Golden Visa, available off-plan. With entry around ~AED 2.8M, most units clear the threshold; we handle the application paperwork.

Explore more

Business Bay DAMAC Lagoons DAMAC Islands DAMAC Hills 2 More by DAMAC Off-plan guide All Dubai projects →

Get started

Buy at DAMAC Canal Heights 2

Leave your details — we'll send live availability, floor plans and the full payment plan. Free; we reply within an hour.