Meed | Damac launches new project in Dubai Business Bay

Damac launches new project in Dubai Business Bay

10 April 2023

Local developer Damac Properties has launched Canal Heights 2, a 45-storey residential tower in Dubai’s Business Bay.

Located on the shores of the Dubai Canal, the project will be co-branded by De Grisogono, a Swiss jeweller acquired by Damac Properties in 2022.

It will feature a range of studios, one- to three-bedroom apartments and three- to four-bedroom luxury duplexes, as well as amenities including an infinity lap pool and retail facilities.

The scheme will be the second branded tower in Damac’s Canal Heights development.

“After the success of Canal Heights, we are proud to unveil its twin – and product par excellence – Canal Heights 2,” said Damac Properties senior vice-president Niall McLoughlin.

“The new tower is set to bring as much exuberance as its predecessor and promises glitz, glamour and indulgence packed into a fine product for today’s discerning clientele who choose modern luxury living options.”

According to data from regional projects tracker MEED Projects, Damac’s completed schemes in Dubai amount to about AED8.8bn, and its projects under execution total more than AED2.1bn.

In January, Damac awarded Beijing-based China State Construction Engineering Corporation an estimated AED955m ($260m) main construction contract for its Damac Cavalli Casa ultra-luxury tower in the Al-Sufouh area between Dubai Media City and Dubai Marina.

In March, the company awarded multiple consultancy services contracts for its Damac Lagoons community development.

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Eva Levesque