Canal Heights 2 by DAMAC by DAMAC

Canal Heights 2 is a branded residential tower by DAMAC Properties on the Dubai Canal in Business Bay, delivered in collaboration with the Geneva jeweller de GRISOGONO. It holds 501 residences across studios, one and two bedroom apartments, and three and four bedroom super luxury duplexes, and follows the original Canal Heights tower on the same waterfront.

Canal Heights 2 sits on the Dubai Canal within Business Bay, Dubai, beside the original Canal Heights tower. Downtown Dubai is around five minutes away, Burj Khalifa seven, DIFC ten, and Dubai International Airport fifteen, via Sheikh Zayed Road and Al Khail Road.

The tower offers studios from 437 sq ft, one bedroom apartments from 733 sq ft, two bedroom apartments from 1,263 sq ft, three bedroom super luxury duplexes from 3,078 sq ft, and four bedroom super luxury duplexes from 4,425 sq ft. The duplexes occupy the upper levels and include private pools and terraces.

Handover is scheduled for Q3 2027 and the tower is currently under construction. I verify build progress against RERA inspection records and log each check in the Canal Heights 2 construction updates guide, so the declared date can be judged against what has actually been built.

Prices start from AED 1.33M ≈ USD 362K for a studio. One bedroom apartments start from AED 2.828M ≈ USD 770K, two bedrooms from AED 3.818M ≈ USD 1.04M, three bedroom duplexes from AED 12.808M ≈ USD 3.49M, and four bedroom duplexes from AED 19.00M ≈ USD 5.17M. Within each tier, price moves with floor level, aspect, and whether the unit faces the canal.

The plan is a 60/40 construction linked structure. 5% plus an AED 1,000 Oqood fee is due on booking, 10% one month after booking, 5% three months after booking, and 40% across months four to nine paid at 1% monthly with 18% in milestone payments during months five and nine. The remaining 40% falls due on completion.

Units priced at or above AED 2M ≈ USD 545K meet the property investment threshold for the 10 year UAE Golden Visa, which covers the one bedroom, two bedroom, and both duplex tiers. Studios at AED 1.33M fall below the threshold and do not qualify on their own, though they remain fully freehold. The Canal Heights 2 Golden Visa guide sets out the eligibility steps in detail.

Yes. Canal Heights 2 is a freehold development, open to all nationalities, with full ownership registered in the buyer's name at the Dubai Land Department.

Yes. Reservation, sales and purchase agreement, and Oqood registration can all be completed from abroad, either by signing digitally or through a Power of Attorney, and I manage the process end to end with the developer. The paperwork sequence for buying from abroad, including what a Power of Attorney must specify, is set out across my Dubai real estate guide library.

Every off plan instalment is paid into the project's DLD-registered escrow account and released to DAMAC only against verified construction progress, a framework regulated by the Dubai Land Department. The mechanics are explained in the Canal Heights 2 escrow account guide.

That depends on which tier you buy. The studio and one bedroom units are yield instruments: compact, canal adjacent, and aimed at the Business Bay rental pool, where metro access and promenade frontage support occupancy. The duplexes behave differently, trading on scarcity and brand rather than rental return. The deciding factors are entry price, holding horizon, and whether the exit strategy is rental income or resale into a branded segment where supply on this waterfront is structurally limited.