DAMAC TOWERS BY PARAMOUNT
MatureDeveloperDAMAC STAR PROPERTIES (L L C)
CommunityBusiness Bay
AreaBusiness Bay
Started
17 years 9 months ago27-03-2008
Handover
7 years 3 months ago23-10-2018
Status
CompleteFinished
Project Description
The project is consisting of 3 towers of Deluxe serviced apartments and 1 Tower consisting of a 5 Stars Hotel , with a common podium in Dubai Business Bay. The buildings configuration is 2B+G+8P+61+R and is designed to have a concrete structure and block with internal and external finishes.
Performance Alpha
Sales Performance
Market Sales: Last 90Dvs Last 12M Baseline
Stable+2%Growth
Current:AED 1,580/sqft
Last 12M:AED 1,548/sqft
Momentum: Last 12Mvs Prior Year
Stable-2%Decline
Last 12M:AED 1,548/sqft
Prior Year:AED 1,580/sqft
Community Compare: Last 90DBusiness Bay
Discount-38%Below Avg
Project:AED 1,629/sqft
Community:AED 2,648/sqft
Liquidity: Last 12MExit Speed
Low8%Turnover
168Sold (Last 12M)
Rental Performance
Rent Pricing: L12MPer Sqft / Year
AED 1,198/sqft
Range:AED 58 – AED 5K
Avg Unit:AED 151K/yr
Leasing Volume: L12MContracts Signed
Active588Total
New:423
Renew:165
Tenant RetentionRenewal Rate
Fair28%renewals
72% new tenants28% renewals
Gross YieldAnnual Return
High Yield75.8%Yield
Rent:AED 1,198/sqft
Price:AED 1,580/sqft
Supply & Demand Matrix
DAMAC TOWERS BY PARAMOUNT averaged 8% liquidity over the last 12 months, which is considered low. High velocity indicates an active secondary market with easier exit potential. Lower velocity suggests long-term holds or cooling demand.
Type
Absorption (L12M)
Velocity
Studio
729 units
24 sold705 left
3%
Velocity
1 Bedroom
691 units
86 sold605 left
12%
Velocity
2 Bedrooms
360 units
39 sold321 left
11%
Velocity
3 Bedrooms
239 units
19 sold220 left
8%
Velocity
4 Bedrooms
1 units
0 sold1 left
0%
Velocity
Shop
19 units
0 sold19 left
0%
Velocity
Office
2 units
0 sold2 left
0%
Velocity
Layouts & Units (2,041)
| Asset Class | Inventory | Size Range | Price Range | Avg PSF | Sales | Trend | |
|---|---|---|---|---|---|---|---|
Asset Class 1 Bed FlatFloors 8-69 | Inventory 457units 61 layouts · Typically 1 parking 14-43 sqm balcony | Size Range 247-1,463sqft | Price Range AED 525K - AED 2.6M | Avg PSF 1,393 | Sales 277 | Trend — | |
Asset Class 2 Bed FlatFloors 8-69 | Inventory 287units 36 layouts · Typically 1 parking 8-73 sqm balcony | Size Range 349-2,075sqft | Price Range AED 250K - AED 3.7M | Avg PSF 1,374 | Sales 145 | Trend — | |
Asset Class 3 Bed FlatFloors 9-69 | Inventory 185units 37 layouts · Typically 1 parking 17-31 sqm balcony | Size Range 872-2,247sqft | Price Range AED 1.4M - AED 4.0M | Avg PSF 1,350 | Sales 92 | Trend — | |
Asset Class 4 Bed FlatFloor 37 | Inventory 1units Typically 1 parking ~35 sqm balcony | Size Range 2,801-2,801sqft | Price Range — | Avg PSF 1,454 | Sales 0 | Trend — | |
Asset Class 2 Bed Hotel ApartmentFloors 10-68 | Inventory 66units 12 layouts · Typically 1 parking 8-24 sqm balcony | Size Range 1,388-1,517sqft | Price Range AED 1.7M - AED 3.0M | Avg PSF 1,402 | Sales 13 | Trend — | |
Asset Class 1 Bed Hotel ApartmentFloors 9-66 | Inventory 123units 26 layouts · Typically 1 parking 14-21 sqm balcony | Size Range 474-1,250sqft | Price Range AED 830K - AED 2.1M | Avg PSF 1,282 | Sales 40 | Trend — | |
Asset Class 3 Bed Hotel ApartmentFloors 10-63 | Inventory 52units 11 layouts · Typically 1 parking 18-26 sqm balcony | Size Range 1,744-2,014sqft | Price Range AED 1.7M - AED 3.0M | Avg PSF 1,403 | Sales 8 | Trend — | |
Asset Class Hotel RoomsFloors 10-69 | Inventory 713units 27 layouts · Typically 1 parking | Size Range 252-637sqft | Price Range AED 400K - AED 1.4M | Avg PSF 1,942 | Sales 71 | Trend — | |
Asset Class 1 Bed Hotel RoomsFloors 10-69 | Inventory 94units 12 layouts · Typically 1 parking | Size Range 630-3,515sqft | Price Range AED 1.7M - AED 2.0M | Avg PSF 1,687 | Sales 21 | Trend — | |
Asset Class Land | Inventory 0units | Size Range 630-6,379sqft | Price Range — | Avg PSF 8,997 | Sales 0 | Trend — | |
Asset Class OfficePodium | Inventory 2units 2 layouts · Typically 1.5 parking | Size Range 1,709-3,056sqft | Price Range — | Avg PSF 906 | Sales 0 | Trend — | |
Asset Class ShopPodium + Floors 8-9 | Inventory 19units 19 layouts · Typically 1.2 parking ~16 sqm balcony | Size Range 121-15,459sqft | Price Range — | Avg PSF 1,006 | Sales 0 | Trend — | |
Asset Class 3 Bed UnitFloor 55 | Inventory 1units Typically 1 parking ~20 sqm balcony | Size Range 1,956-1,956sqft | Price Range — | Avg PSF — | Sales 0 | Trend — |
Grouped into 13 asset classes covering 2,041 units