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Paramount Tower Hotel & Residences, Business Bay

Highlights

Paramount Tower Hotel & Residences at a glance

About Paramount Tower Hotel & Residences

Paramount Tower Hotel & Residences is a mixed-use building in Business Bay, Dubai, developed by DAMAC. It holds about 881 units: studios, 1-bedroom apartments, 2-bedroom apartments, 3-bedroom apartments, commercial units. Depending on the unit, windows look out over Burj Khalifa.

The building was completed in 2021 and has been in use for about 5 years. 35 units changed hands in the last 12 months, registered with the Dubai Land Department. Recent sales went through at a median of AED 2,034 per sq ft.

Paramount Tower Hotel & Residences is one of 257 buildings in Business Bay: 149 are complete and 61 are still being built.

In a nutshell

  • A mixed-use ready building
  • Located in Business Bay, Dubai
  • Developed by DAMAC
  • Completed in Q4 2021
  • Unit types: Studio, 1 Bed, 2 Beds, 3 Beds, Commercial
  • Sizes from 50 to 7,700 sq ft
  • Views: Burj Khalifa
  • Features: Gated Community, Seafront, Shared Spa, Vastu-compliant
  • Service charge from AED 22.5 per sq ft
  • Business Bay metro station 0.5 km away
Status
Ready
Developer
DAMAC
Location
Business Bay, Dubai
Completed
Q4 2021
Unit types
Studio, 1 Bed, 2 Beds, 3 Beds, Commercial
Prices from
AED 744.0K
Median price per sq ft
AED 2,034
Median gross yield
6.9%
Service charge
AED 22.5 per sq ft (2026)
Nearest metro
Business Bay Interchange, 0.5 km

Photos of Paramount Tower Hotel & Residences

Building details

Inside Paramount Tower Hotel & Residences

Facilities in Paramount Tower Hotel & Residences

Paramount Tower Hotel & Residences lists 4 features and facilities for its residents.

  • Gated Community
  • Seafront
  • Shared Spa
  • Vastu-compliant

Properties in Paramount Tower Hotel & Residences

Studios in Paramount Tower Hotel & Residences

There are about 205 of these in Paramount Tower Hotel & Residences, from 470 to 690 sq ft. They have recently sold for a median of AED 821.0K, or AED 1,580 per sq ft.

1-bedroom apartments in Paramount Tower Hotel & Residences

There are about 176 of these in Paramount Tower Hotel & Residences, from 680 to 1,120 sq ft. They have recently sold for a median of AED 1.8M, or AED 2,120 per sq ft. Owners who resold made a median 6% over what they paid.

2-bedroom apartments in Paramount Tower Hotel & Residences

There are about 331 of these in Paramount Tower Hotel & Residences, from 1,040 to 1,420 sq ft. They have recently sold for a median of AED 2.6M, or AED 2,040 per sq ft. Owners who resold made a median 8% over what they paid.

3-bedroom apartments in Paramount Tower Hotel & Residences

There are about 78 of these in Paramount Tower Hotel & Residences, from 1,480 to 1,900 sq ft. They have recently sold for a median of AED 2.9M, or AED 1,760 per sq ft. Owners who resold made a median 1% over what they paid.

Commercial units in Paramount Tower Hotel & Residences

There are about 91 of these in Paramount Tower Hotel & Residences, from 50 to 7,700 sq ft. None has sold recently enough to quote a price.

Unit types in Paramount Tower Hotel & Residences with sizes, median prices and rents
Unit typeUnitsSizeMedian priceMedian rent
Studio205470 sqft43.7 sqmt – 690 sqft64.1 sqmtAED 821K–
1 Bed176680 sqft63.2 sqmt – 1,120 sqft104.1 sqmtAED 1.8MAED 105K
2 Beds3311,040 sqft96.6 sqmt – 1,420 sqft131.9 sqmtAED 2.6MAED 152.5K
3 Beds781,480 sqft137.5 sqmt – 1,900 sqft176.5 sqmtAED 2.9MAED 205K
Commercial9150 sqft4.6 sqmt – 7,700 sqft715.4 sqmtNo recent sales–

Recent transactions in Paramount Tower Hotel & Residences

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 1.4M

    AED 2,062 /sqftAED 22,195 /sqmt

    ReadyApartment
    679 sqft63.1 sqmt1 BedOwner15 Oct 2026

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 2.7M

    AED 1,668 /sqftAED 17,954 /sqmt

    ReadyApartment
    1,644 sqft152.7 sqmt3 BedsOwner15 Oct 2026

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 2.4M

    AED 2,014 /sqftAED 21,679 /sqmt

    ReadyApartment
    1,167 sqft108.4 sqmt2 BedsOwner7 Sept 2026

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 2.7M

    AED 1,998 /sqftAED 21,506 /sqmt

    ReadyApartment
    1,364 sqft126.7 sqmt2 BedsOwner13 Aug 2026

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 777.2K

    AED 1,629 /sqftAED 17,534 /sqmt

    ReadyApartment
    477 sqft44.3 sqmtStudioOwner3 Jul 2026

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 2.7M

    AED 2,058 /sqftAED 22,152 /sqmt

    ReadyApartment
    1,290 sqft119.8 sqmt2 BedsOwner29 Jun 2026

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 3.2M

    AED 2,346 /sqftAED 25,252 /sqmt

    ReadyApartment
    1,364 sqft126.7 sqmt2 BedsOwner25 Jun 2026

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 2M

    AED 2,395 /sqftAED 25,780 /sqmt

    ReadyApartment
    843 sqft78.3 sqmt1 BedOwner16 Jun 2026

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 3M

    AED 1,825 /sqftAED 19,644 /sqmt

    ReadyApartment
    1,644 sqft152.7 sqmt3 BedsOwner9 Jun 2026

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 2.8M

    AED 1,700 /sqftAED 18,299 /sqmt

    ReadyApartment
    1,644 sqft152.7 sqmt3 BedsOwner5 Jun 2026

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 830.5K

    AED 1,597 /sqftAED 17,190 /sqmt

    ReadyApartment
    520 sqft48.3 sqmtStudioOwner22 May 2026

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 960.4K

    AED 1,532 /sqftAED 16,490 /sqmt

    ReadyApartment
    627 sqft58.3 sqmtStudioOwner22 May 2026

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 2M

    AED 2,053 /sqftAED 22,098 /sqmt

    ReadyApartment
    974 sqft90.5 sqmt1 BedOwner18 May 2026

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 1.7M

    AED 2,423 /sqftAED 26,081 /sqmt

    ReadyApartment
    681 sqft63.3 sqmt1 BedOwner8 May 2026

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 2.8M

    AED 2,053 /sqftAED 22,098 /sqmt

    ReadyApartment
    1,364 sqft126.7 sqmt2 BedsOwner6 May 2026

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 1.3M

    AED 2,490 /sqftAED 26,802 /sqmt

    ReadyApartment
    520 sqft48.3 sqmtStudioOwner24 Feb 2026

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 821.4K

    AED 1,580 /sqftAED 17,007 /sqmt

    ReadyApartment
    520 sqft48.3 sqmtStudioOwner19 Feb 2026

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 1.8M

    AED 2,004 /sqftAED 21,571 /sqmt

    ReadyApartment
    898 sqft83.4 sqmt1 BedOwner19 Feb 2026

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 1.7M

    AED 2,489 /sqftAED 26,791 /sqmt

    ReadyApartment
    683 sqft63.5 sqmt1 BedOwner16 Feb 2026

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 3M

    AED 2,596 /sqftAED 27,943 /sqmt

    ReadyApartment
    1,167 sqft108.4 sqmt2 BedsOwner6 Feb 2026

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 135K/yr

    ApartmentNew contract
    1,121 sqft104.1 sqmt2 Bedsto

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 120K/yr

    ApartmentNew contract
    1,186 sqft110.2 sqmt2 Bedsto

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 160K/yr

    ApartmentNew contract
    1,121 sqft104.1 sqmt2 Bedsto

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 75K/yr

    ApartmentRenewal
    1,121 sqft104.1 sqmt2 Bedsto

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 160K/yr

    ApartmentRenewal
    1,166 sqft108.3 sqmt2 Bedsto

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 155K/yr

    ApartmentRenewal
    1,186 sqft110.2 sqmt2 Bedsto

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 175K/yr

    ApartmentNew contract
    1,221 sqft113.4 sqmt2 Bedsto

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 200K/yr

    ApartmentNew contract
    1,586 sqft147.3 sqmt3 Bedsto

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 95K/yr

    ApartmentNew contract
    965 sqft89.7 sqmt1 Bedto

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 105K/yr

    ApartmentNew contract
    974 sqft90.5 sqmt1 Bedto

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 150K/yr

    ApartmentNew contract
    1,288 sqft119.7 sqmt2 Bedsto

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 150K/yr

    ApartmentRenewal
    1,288 sqft119.7 sqmt2 Bedsto

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 190K/yr

    ApartmentRenewal
    1,340 sqft124.5 sqmt2 Bedsto

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 180K/yr

    ApartmentRenewal
    1,166 sqft108.3 sqmt2 Bedsto

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 150K/yr

    ApartmentNew contract
    1,291 sqft119.9 sqmt2 Bedsto

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 140K/yr

    ApartmentRenewal
    1,221 sqft113.4 sqmt2 Bedsto

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 125K/yr

    ApartmentRenewal
    681 sqft63.3 sqmt1 Bedto

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 210K/yr

    ApartmentNew contract
    1,645 sqft152.8 sqmt3 Bedsto

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 380K/yr

    ApartmentNew contract
    1,340 sqft124.5 sqmt2 Bedsto

  • Paramount Tower Hotel & Residences

    Business Bay

    AED 150K/yr

    ApartmentNew contract
    1,186 sqft110.2 sqmt2 Bedsto

Every sale in Paramount Tower Hotel & ResidencesEvery rent contract in Paramount Tower Hotel & Residences

Service charges in Paramount Tower Hotel & Residences

The 2026 service charge in Paramount Tower Hotel & Residences is AED 30.73 per sq ft for health club, AED 22.5 per sq ft for homes, AED 23.42 per sq ft for shops. It is paid yearly by the owner, covers upkeep, security and shared areas, and is set by the building’s owners association and registered with the Dubai Land Department.

Service charges in Paramount Tower Hotel & Residences
Unit typeRate per sq ftSizeYearly charge
1 Bed Apartment (2026)AED 22.5680 sqft63.2 sqmt – 1,120 sqft104.1 sqmtAED 15,300 – AED 25,200
2 Beds Apartment (2026)AED 22.51,040 sqft96.6 sqmt – 1,420 sqft131.9 sqmtAED 23,400 – AED 31,950
3 Beds Apartment (2026)AED 22.51,480 sqft137.5 sqmt – 1,900 sqft176.5 sqmtAED 33,300 – AED 42,750
Retail (2026)AED 23.4250 sqft4.6 sqmt – 7,700 sqft715.4 sqmtAED 1,171 – AED 180,334
Studio Apartment (2026)AED 22.5470 sqft43.7 sqmt – 690 sqft64.1 sqmtAED 10,575 – AED 15,525

Source: Dubai Land Department service charge index. Rates are reviewed each year.

Available now

Properties for sale and rent in Paramount Tower Hotel & Residences

Units in Paramount Tower Hotel & Residences listed with fäm right now. Each listing has its own photos, price and the broker handling it.

Nearby amenities

Around Paramount Tower Hotel & Residences

Transportation near Paramount Tower Hotel & Residences

The nearest Dubai Metro station from Paramount Tower Hotel & Residences is Business Bay (red line, 0.5 km, about 6 min walk), then Burj Khalifa/Dubai Mall (red line, 1 km, about 12 min walk). Stations planned on new lines nearby include Business Bay Interchange (golden line, 0.5 km, about 6 min walk) and Burj Khalifa Road (golden line, 0.8 km, about 10 min walk).

  • Business Bay InterchangeGolden line · 0.5 km · about 6 min walk
  • Business BayRed line · 0.5 km · about 6 min walk
  • Burj Khalifa RoadGolden line · 0.8 km · about 10 min walk
  • Burj Khalifa/Dubai MallRed line · 1 km · about 12 min walk
  • City WalkGolden line · 1.6 km · about 5 min drive
  • Financial CentreRed line · 2.2 km · about 6 min drive

Shopping and groceries near Paramount Tower Hotel & Residences

The closest is Choitram, The Executive Towers, 0.1 km from Paramount Tower Hotel & Residences (about 2 min walk).

  • Choitram, The Executive TowersSupermarket · 0.1 km · about 2 min walk
  • Bay AvenueShopping Mall · 0.3 km · about 4 min walk
  • Spinneys / The Executive TowersSupermarket · 0.5 km · about 6 min walk
  • Al Maya / 8 Boulevard Walk, Downtown DubaiSupermarket · 0.6 km · about 7 min walk
  • Spinneys / EMAAR Boulevard, Downtown DubaiSupermarket · 0.8 km · about 10 min walk

Restaurants and hotels near Paramount Tower Hotel & Residences

The closest is Villa Rotana - Dubai, 0.7 km from Paramount Tower Hotel & Residences (about 8 min walk).

  • Villa Rotana - DubaiHotel · 0.7 km · about 8 min walk
  • Oberoi HotelHotel · 0.8 km · about 10 min walk
  • Qamardeen HotelHotel · 0.9 km · about 11 min walk
  • Ramada Downtown Dubai Deluxe SuitesHotel · 1 km · about 12 min walk
  • Armani Hotel DubaiHotel · 1 km · about 12 min walk

Hospitals and clinics near Paramount Tower Hotel & Residences

The closest is Al Amal Hospital, 1.3 km from Paramount Tower Hotel & Residences (about 5 min drive).

  • Al Amal HospitalHospital · 1.3 km · about 5 min drive
  • Medcare HospitalHospital · 2.5 km · about 7 min drive
  • Internationl Medical CenterHospital · 2.7 km · about 7 min drive
  • Emirates HospitalHospital · 2.8 km · about 8 min drive
  • Emirates International HospitalHospital · 3.4 km · about 9 min drive

Parks and leisure near Paramount Tower Hotel & Residences

The closest is Safa Park, 2 km from Paramount Tower Hotel & Residences (about 6 min drive).

  • Safa ParkPark · 2 km · about 6 min drive
  • Dubai Bowling CentreSports Academy · 2.3 km · about 7 min drive
  • Jumeirah Beach ParkPark · 3 km · about 8 min drive
  • Al Quoz Pond ParkPark · 3.3 km · about 9 min drive
  • Falcon Heritage and Sports CentreSports Academy · 5.2 km · about 12 min drive

Schools near Paramount Tower Hotel & Residences

The nearest is Japanese School, 1.1 km away. Ratings are the KHDA's latest inspection grades.

  • Japanese SchoolJapanese · KHDA: Good · 1.1 km
  • JSS Private School L.L.CIndian · KHDA: Very good · 1.2 km
  • Horizons English School L.L.CUK · KHDA: Outstanding · 1.6 km
  • Harrow International School L.L.CUK* · KHDA: Not inspected yet · 1.8 km
  • Dubai British School MiraUK · KHDA: Not inspected yet · 1.8 km
  • Iranian Towheed Boys SchoolIranian - International Baccalaureate · KHDA: Good · 2.3 km

Other buildings in Business Bay

Business Bay has 257 buildings. A few others to compare Paramount Tower Hotel & Residences with:

All 257 Business Bay buildings →

Things to consider about Paramount Tower Hotel & Residences

In its favour

  • Business Bay metro station is within walking distance.
  • An active resale market: 35 sales in the last year make it easier to price and to sell.
  • Owners who resold have made money: a median gain of up to 8%.
  • A median gross yield of 6.9% on recent sales.
  • Ready to move into or let, with no construction risk.
  • Several schools within 3 km.

Worth checking

  • Service charges of up to AED 30.73 per sq ft are on the higher side for Dubai.

Specialists

Brokers who know Paramount Tower Hotel & Residences

These brokers handle sales and lettings in Paramount Tower Hotel & Residences and can tell you what is available now.

FAQs

Paramount Tower Hotel & Residences: questions answered

Paramount Tower Hotel & Residences was developed by DAMAC in Business Bay.

Paramount Tower Hotel & Residences is completed in Q4 2021.

Across its 20 most recent registered sales, Paramount Tower Hotel & Residences sold for a median of AED 2,034 per sq ft and AED 2.0M per unit.

Recent yearly contracts in Paramount Tower Hotel & Residences have a median rent of AED 150.0K.

The median gross yield on recently sold units in Paramount Tower Hotel & Residences is 6.9%: the rent the unit earned over its purchase price, before costs.

The 2026 service charge for residential units in Paramount Tower Hotel & Residences is AED 22.5 per sq ft a year, as registered with the Dubai Land Department.

Paramount Tower Hotel & Residences has Studio (470 to 690 sq ft), 1 Bed (680 to 1,120 sq ft), 2 Beds (1,040 to 1,420 sq ft), 3 Beds (1,480 to 1,900 sq ft), Commercial (50 to 7,700 sq ft).

Business Bay Interchange is about 0.5 km from Paramount Tower Hotel & Residences.

The nearest schools include Japanese School (1.1 km), JSS Private School L.L.C (1.2 km), Horizons English School L.L.C (1.6 km).

Buying, selling or renting in Paramount Tower Hotel & Residences?

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