Chic Tower
2 BR · Apartment
About the building
41-storey residential building in Business Bay. Developer — Damac Properties. Architect — BH NS Engineering Consultants.
What the building has
- Swimming pool
- Gym
- Spa and sauna
- Children's area
Where it is
Business Bay
The canal district next to Downtown: conceived as offices, built mostly as apartments, now one of the most tenanted parts of the city.
- central location at a discount
- short-let on the canal
- deep tenant demand
What to check: Quality varies enormously between towers here. Walk the building on a normal weekday and get three years of service charge history before you offer — in Business Bay the building matters far more than the district average.
Full district guide →Questions and answers about lot NP17-574327
How much is this 2-bedroom apartment in Chic Tower?
Lot NP17-574327 is priced at AED 3 950 000, about $1 076 000. The size is 1 541 sq ft (143 m²), which works out at AED 2 563 per sq ft.
Is there a discount on this lot?
There is no recorded price cut: the lot is in the database at the seller's asking price. The comparisons below show how that price sits against the market.
How does this price compare with other lots in Chic Tower?
The database holds 12 lots in Chic Tower right now, from AED 996 000 to AED 3 950 000. 5 of them share this type and bedroom count: this lot is the most expensive. At AED 2 563 per sq ft this lot is 17% above the median for the other lots in the project (AED 2 196).
Is this expensive or cheap for Business Bay?
The database holds 387 lots in Business Bay. The area median is AED 2 869 per sq ft; this lot, at AED 2 563, is 11% below it. 128 lots in the area have a reduced price. The median is taken from listings in our database, not from registered sales.
Business Bay area guide →Can this lot be bought with a mortgage, and what would the payment be?
UAE banks lend on ready homes, and the listing does not confirm that this property is ready. If it has been handed over, the numbers are: a resident puts down from 20%, here AED 790 000; a loan of AED 3 160 000 over 25 years at 3.75–4.99% a year comes to roughly AED 16 200–18 500 a month. A non-resident puts down from 40% (AED 1 580 000) and pays about AED 12 200–13 800 a month. The bank approves the rate and the amount.
Run your own numbers in the mortgage calculator →What costs come on top of the price?
The main one is the Dubai Land Department registration fee: 4% of the price, AED 158 000 for this lot. With a mortgage the bank charges for processing and valuation, and the mortgage is registered for a separate fee. I will send the full calculation for this lot on request.
Does buying this lot qualify for a UAE residence visa?
On price, yes: the 10-year Golden Visa is granted for property from AED 2 000 000, and this lot is priced at AED 3 950 000. The threshold is measured by the Dubai Land Department valuation, not the contract, and only freehold qualifies.
Golden Visa and residence visas →What is known about Chic Tower?
The building has 41 floors. Figures are from the project passport: Propsearch and the Dubai Land Department.
How do I view the property and get the exact address?
Lots in the database are anonymised: the unit number, exact address and owner's details are not published. Send the lot code NP17-574327 on WhatsApp or Telegram — I will confirm the lot is still for sale, send the full details and arrange a viewing.
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