YOUR GUIDE TO SMARTER, HIGHER-EARNING PROPERTY MANAGEMENT
DAMAC Towers by Paramount, Business Bay
A four-tower, 68-storey complex in Business Bay developed by DAMAC Properties in brand partnership with Paramount Pictures: location, amenities, pricing, and honest short-term rental income potential from Royale Stays' managed portfolio.
Floors
68 (x4 towers)
Developer
DAMAC Properties
Completed
2018
Units
Studio-3BR + hotel
Area
Business Bay
About DAMAC Towers by Paramount
DAMAC Towers by Paramount is a complex of four towers, A, B, C and D, in Business Bay, each rising 68 storeys to roughly 270 metres. It was developed by DAMAC Properties in brand partnership with Paramount Pictures and Paramount Hotels & Resorts. Construction began back in 2008 and the project went through a long delay before substantially completing around 2018, though sources vary between 2018 and 2019 for the exact handover date, so this guide treats 2018 as an approximate rather than a precisely confirmed figure.
The complex is not a single homogeneous building: three of the four towers hold residential apartments under the co-branded "DAMAC Maison, Paramount" serviced-residence label, while the fourth is a dedicated Paramount Hotel tower with roughly 800 to 823 hotel rooms and suites. That hotel inventory sits outside the freehold apartment stock this guide is written for, but it explains why the complex feels more like a hospitality destination than a typical residential tower, with in-unit housekeeping and concierge service carried over from the hotel side into the residential towers themselves.
Location & Nearby Landmarks
DAMAC Towers by Paramount sits within Business Bay, one of Dubai's established mixed-use districts along the Dubai Water Canal. Royale Stays' own Business Bay area guide covers the wider district in more depth, including how it compares to neighbouring areas for short-term letting.
Burj Khalifa and The Dubai Mall are roughly 1.2 kilometres away, about a 10 to 12-minute drive, and Dubai Opera is approximately a 12-minute drive from the complex. Owners comparing DAMAC Towers by Paramount against other Business Bay buildings can also read Royale Stays' guides to Ahad Residences and Millennium Binghatti Residence, two other Business Bay buildings currently covered by Royale Stays.
Unit Types
Across the three residential towers, DAMAC Towers by Paramount holds roughly 1,100 to 1,200 apartments in total, sources vary between around 1,140 and 1,200 units. Studios generally run from about 430 to 637 square feet, one-bedroom units from roughly 841 to 1,571 square feet, two-bedroom units from about 1,112 to 1,587 square feet, and three-bedroom units from roughly 1,557 to 2,200 square feet. These are presented as ranges rather than a single fixed figure per layout, since unit sizes vary meaningfully within the complex.
The separate Paramount Hotel tower, with its roughly 800 to 823 rooms and suites, is not part of the freehold apartment stock described above: it is standard hotel inventory rather than individually owned residential units, mentioned here only for context on how the complex is structured. No floor-plan diagrams are included in this guide: floor plans are typically the developer's or broker's proprietary material and have not been independently verified for this guide.
Amenities
The complex offers two gyms and fitness centres, each with a sauna and steam room, alongside multiple swimming pools including separate adult and kids' pools and a rooftop infinity-style pool, plus a spa. Food and drink options include several restaurants, bars and lounges, among them a themed dine-in cinema styled on Paramount film branding and a handful of named bars within the retail podium.
Families are catered for with a dedicated kids' play area and club, and the complex provides valet and covered parking, 24-hour security with CCTV coverage, and an eight-level retail podium connecting all four towers, home to salons, a supermarket, and meeting and event facilities. In-unit housekeeping and concierge service, carried over from the Paramount Hotel side of the complex, is a genuine feature of the DAMAC Maison residential product specifically, not a standard amenity at most Business Bay buildings.
Transportation & Access
Business Bay Metro Station is a short drive away: reported distances vary considerably between sources, from around 5 minutes to as much as 14 minutes by car, so Royale Stays has not confirmed a precise figure for this guide. Burj Khalifa and Dubai Mall Metro Station is more reliably cited at roughly a 16-minute walk. For bus access, the "Business Bay 2" stop is approximately a 15-minute walk from the complex.
Rental & Price Trends
Royale Stays has not independently confirmed rents specific to DAMAC Towers by Paramount in this pass, so the figure below describes Business Bay's rental market at an area level rather than this particular complex. Per RERA's Q4 2025 Rental Market Report, as reported via Bayut, the average Business Bay apartment rent reached AED 128,021 per year, up 18.2 percent year-on-year in 2025. Service charges for DAMAC Towers by Paramount have not been resolved via Mollak in this pass, so they are omitted rather than estimated.
Owners weighing a specific unit's earning potential against this area-level rental trend can run their own numbers through Royale Stays' Dubai property ROI calculator.
Airbnb / Short-Term Rental Income Potential
DAMAC Towers by Paramount is not a single-ownership-model building, and that matters a great deal for anyone considering Airbnb here. The residential product is branded "DAMAC Maison, Paramount," a co-branded serviced-residence concept, and some of those units are enrolled in DAMAC's own rental pool or leaseback scheme. Owners in that scheme typically retain around 14 days of personal use per year and cannot bring in an outside manager for that specific unit: those units are simply not a prospect for third-party Airbnb management, regardless of how appealing the building looks.
Other units at DAMAC Towers by Paramount are genuinely freehold and independently owned, and real, confirmed third-party Airbnb activity is already happening in Towers B and D specifically. The honest starting point for any owner here is to check which category their own unit falls into before assuming outside management is even possible: a unit inside DAMAC's own rental pool is off the table for a company like Royale Stays, while an independently owned freehold unit is a genuine candidate, the same as any other Business Bay apartment.
For an independently owned, freehold unit at DAMAC Towers by Paramount, the practical requirements are the same as anywhere else in Dubai: a DTCM holiday home permit, confirmation of the building's own short-term letting policy, and competitive pricing. Royale Stays' guide to the Dubai holiday home permit covers what that process generally involves. Royale Stays manages the full furnishing, photography, pricing, check-in and guest communications process for owners of independently owned units who prefer not to handle it directly, and our guide to what separates a strong Airbnb management company from a weak one sets out what to look for when comparing operators. Owners of a genuinely freehold, independently owned unit who are ready to move forward can submit their property for a management review.
Income context reflects Royale Stays' own managed-portfolio experience across Business Bay, reviewed by Chris Veinbaums, DTCM-licensed operator.
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