This is a one-bedroom apartment in Canal Heights, DAMAC's development in Business Bay. The unit measures 736 sq.ft between the 30th and 40th floors, with a full canal view and a balcony, and handover is scheduled for Q2 2027. The asking price is AED 2,050,000 against an original price plus DLD of AED 2,263,683, a reduction of AED 213,683 or 9.4% below original price. On 736 sq.ft of built-up area that is AED 2,785 per square foot. The buyer settles AED 1,401,835 at transfer, of which AED 1,266,430 goes to the seller, then pays AED 783,570 across six dated instalments from October 2026 to March 2027 and a final payment on handover, giving a total cost of AED 2,185,405. The plan is a curved one-bedroom layout following the tower's facade, with the living room and the bedroom both opening onto a single curved balcony.
CANAL HEIGHTS · Business BayDAMAC · Business Bay
DISTRESS DEAL: 1-BR IN CANAL HEIGHTS
- Unit
- 1-BR
- Size
- 736 sq.ft
- Developer
- DAMAC
- Handover
- Q2 2027
The discount is measured against the original price + DLD recorded for this unit, not against a valuation.
Available when we last checked. The asking price shown is the one published when the listing was added on 4 October 2026, and it is not re-checked against the market automatically. Confirm availability and price with us before you act on it.
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The numbers
Payment breakdown
- Payment to sellerAED 1,266,430
- DLD Transfer fee (4% of OP + 40 AED)AED 87,105
- Trustee Office FeeAED 5,250
- Buyer's Agency Commission (2% + VAT)AED 43,050
- Total on transferAED 1,401,835
- 06-OCT-2026AED 21,766
- 06-NOV-2026AED 21,766
- 06-DEC-2026AED 21,766
- 06-JAN-2027AED 21,766
- 06-FEB-2027AED 130,595
- 06-MAR-2027AED 21,766
- On HandoverAED 544,145
- Total remaining payment planAED 783,570
Ask us to walk through this schedule, or to confirm the current balance with the developer before terms are agreed.
Ask about these termsUnit details
- Property type
- Apartment
- Floor
- (30-40)
- View
- Full canal
Distress Deal
PROJECT DESCRIPTION
OVERVIEW
LOCATION & TRANSPORT
Canal Heights stands on the bank of the canal in Business Bay.
AMENITIES & SURROUNDING
The developer's visuals show a tower rising from a curved, landscaped podium directly on the canal edge, with a pool deck and terraces planted with palms, a double-height arrival lobby and residents' lounges. The upper-floor band of this unit, between the 30th and 40th floors, is what secures the full canal outlook, and the balcony runs the length of the curved facade, so the living room and bedroom share the view.
MARKET
At AED 2,785 per square foot on built-up area, the price reflects a high-floor canal-view unit, and the 9.4% reduction against original price plus DLD brings the entry point below what the first buyer committed. The payment structure favours a buyer who wants to spread capital. About 62% of the unit price goes to the seller at transfer; the six instalments due between October 2026 and March 2027 total AED 239,425, including a larger AED 130,595 payment in February 2027; and AED 544,145, about 27% of the unit price, falls due on handover in Q2 2027. That handover balance can be funded from savings or, subject to approval, a mortgage on completion.
CONCLUSION
This unit suits an investor or owner-occupier who wants a high-floor, canal-facing one-bedroom, with handover in Q2 2027 and a payment schedule that spreads the remaining balance across the next six months and completion. The discount is material at 9.4% and the canal outlook is the unit's defining feature. The points to settle before committing are the handover payment of AED 544,145 and how it will be funded. Contact us to walk through the floor plan, the instalment dates and the transfer arithmetic, and we can arrange the next steps with you. We can also compare this unit against other one-bedroom canal-view stock before you decide.
Location
CANAL HEIGHTS — Business Bay, Dubai
Illustrative model
Scenario modeller
Set your own assumptions and see how DISTRESS DEAL: 1-BR IN CANAL HEIGHTS behaves as a cash purchase, the same purchase mortgaged, or a capital-only resale.
The date this listing was added to our records. The asking price below is the one published then, and is not re-checked against the market automatically — confirm it with us before relying on it.
As stated on this listing: the asking price measured against the original purchase price recorded for this unit. It is not a discount to current market value and not a valuation — a unit priced below what it originally sold for may still be at or above what comparable units achieve today. Check the registered comparables before treating the gap as equity. It is not used in any calculation below.
The asking price divided by the stated size. Compare it against registered sales in the same building before deciding whether the asking price is competitive.
As stated on this listing. Rent cannot start before handover, so on an incomplete unit the early years of the schedule below are holding cost only.
Set service charge, maintenance & management, vacancy allowance above to see cash back — until then this figure would be assuming zero for them.
ROI and IRR are calculated on this figure: the price plus every cost of getting the keys.
No rental evidence is held for this unit. The rent figure is yours to set — we have not assumed one. Until you enter a gross annual rent, the yield, ROI/ROE and IRR figures reflect capital movement and costs only.
Figures marked “—” need service charge, maintenance & management, vacancy allowance entered above — we do not compute them on an assumed zero.
Cash-flow schedule — the 5-year figures the IRR is solved from (incomplete, see note)
| Year | Net operating income | Sale proceeds, net | Net cash flow |
|---|---|---|---|
| 0 · today | — | — | −AED 2,175,050 |
| 1 | AED 0 | — | AED 0 |
| 2 | AED 0 | — | AED 0 |
| 3 | AED 0 | — | AED 0 |
| 4 | AED 0 | — | AED 0 |
| 5 | AED 0 | AED 2,006,950 | AED 2,006,950 |
| Years 1–5 | AED 0 | AED 2,006,950 | AED 2,006,950 |
| Less the year-0 outflow of AED 2,175,050 → total profit | −AED 168,100 | ||
Exit at year 5: illustrative sale price AED 2,050,000 less selling costs AED 43,050 = AED 2,006,950 net. The final column is the schedule the IRR is solved from. Rent is held flat in nominal terms — the rent-growth field is at 0% — as is the service charge, so no inflation is assumed on either side. This audit table is arithmetic, so every row must resolve to a number — but service charge, maintenance & management, vacancy allowance are not set above, and the figures here currently assume zero for them. Nothing on this table should be read as a result until you set them; the headline tiles above withhold theirs for exactly this reason.
Sensitivity — the same purchase at −5% to +5% exit growth
| Exit growth | Exit price | Total profit | ROI | IRR |
|---|---|---|---|---|
| −5% p.a. | AED 1.59M | — | — | — |
| −3% p.a. | AED 1.76M | — | — | — |
| 0% p.a.your figure | AED 2.05M | — | — | — |
| 3% p.a. | AED 2.38M | — | — | — |
| 5% p.a. | AED 2.62M | — | — | — |
Each row re-runs the whole model with only the exit growth rate changed, over the same 5-year hold. The 0% and negative rows are not a worst case — they are simply what the same purchase returns if prices do not rise. Dubai prices have fallen in the past and can fall again. The return columns are shown as “—” until a gross annual rent is set; the total profit column reflects capital movement, purchase and sale costs and the service charge only.
Method
- Handover
- The date the unit is handed over, set in quarters from purchase. Gross rent, the vacancy allowance, maintenance and management, and the service charge all start there and not before — an unbuilt unit cannot be let and is not billed. The year handover falls in gets the exact fraction it is entitled to, not a rounded whole year. Capital growth is not treated this way: it compounds from today across the whole hold, because an off-plan unit can be sold before it completes. Where the holding period ends before handover, there is no operating income anywhere in the schedule and the whole return is capital movement less costs.
- Gross yield
- Gross annual rent ÷ purchase price. Before every cost. Where handover is in the future this is a stabilised full year from handover — a rate on the price, not a figure reduced by the construction period. The schedule shows what each year actually books.
- Net yield
- (Rent collected after the vacancy allowance − maintenance and management − service charge) ÷ purchase price. Stabilised on the same basis as the gross yield.
- Rent growth
- Compound annual movement in gross rent, applied from handover and stepping at each anniversary of it, which is when a tenancy renews. It may be negative. It does not touch the service charge, which is held flat in nominal terms.
- ROI
- Total profit over the whole hold ÷ total cash invested (price + all acquisition costs). Unlevered. Not an annual rate.
- ROE
- Total profit over the whole hold ÷ equity contributed (deposit + all acquisition and finance costs), after debt service. Levered. Not an annual rate.
- Cash-on-cash return
- Year-one operating cash flow, after debt service where there is a mortgage, ÷ cash invested. Reported separately from ROI/ROE and never merged with it. Year one means the first year of the schedule as it stands: where that year falls before handover it carries no rent, so on a mortgaged off-plan purchase the figure is negative — that is the year you fund out of pocket, and it is shown rather than smoothed away.
- IRR
- The annualised rate that discounts the dated cash-flow schedule above to a net present value of zero, solved numerically. Where the schedule has no sign change, or the solver does not converge on a single meaningful rate, we print “—” rather than substitute a simpler annualised-return figure.
Email my results
We’ll send this scenario — your assumptions and the figures they produce — to your inbox.
Set service charge, maintenance & management, vacancy allowance above and we can email you this scenario. Until then every headline figure reads “—”, because the model would otherwise be assuming zero for them — and we publish no figure for them.
An illustrative model, not a forecast, a valuation, an offer or investment advice. Every figure is generated from the assumptions on this page — some yours, the rest stated defaults, not promises. Rents, service charges, fees, vacancy, handover dates, financing terms and sale prices vary by unit and over time; past prices are not a guide to future prices. Returns are not guaranteed and capital is at risk.
Mortgage availability, loan-to-value, rate and term are subject to lender criteria and underwriting; nothing here indicates that finance will be offered. Figures exclude any tax payable in your country of residence — take independent financial, tax and legal advice before committing. Mitchell's Commercial Real Estate is a trading brand; the RERA-licensed broker is Stephen James Mitchell, BRN 68593.
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