−10% Damac Distinction
3 BR · Apartment
About the building
53-storey mixed-use complex in Downtown Dubai, completed in 2016. Developer — Damac Properties. Architect — Port Saeed Engineering.
Where it is
Downtown Dubai
The Burj Khalifa district — the most recognisable address in the emirate and the densest piece of it.
- short-let income
- a landmark address
- fast resale
What to check: The service charge here is among the highest in Dubai and in older towers it has climbed faster than rent. Calculate your yield after the charge, not before, and ask for three years of charge history before making an offer.
Full district guide →Questions and answers about lot NP17-574749
How much is this 3-bedroom apartment in Damac Distinction?
Lot NP17-574749 is priced at AED 3 250 000, about $885 000. The size is 1 770 sq ft (164 m²), which works out at AED 1 836 per sq ft.
How much has the price of this lot been cut?
The price before the cut was AED 3 600 000; it is now AED 3 250 000 — AED 350 000 less, or 10%.
Is this expensive or cheap for Downtown Dubai?
The database holds 182 lots in Downtown Dubai, starting from AED 1 300 000. The area median is AED 3 538 per sq ft; this lot is at AED 1 836. A gap that wide usually means an error in the listing rather than a real price difference — I will check it when you ask. 35 lots in the area have a reduced price. The median is taken from listings in our database, not from registered sales.
Downtown Dubai area guide →Is the property ready or still under construction?
The listing gives no handover date. The project passport gives 2016 as the completion year.
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 650 000; a loan of AED 2 600 000 over 25 years at 3.75–4.99% a year comes to roughly AED 13 400–15 200 a month. A non-resident puts down from 40% (AED 1 300 000) and pays about AED 10 000–11 400 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 130 000 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 3 250 000. 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 Damac Distinction?
The building has 53 floors. The developer is Damac. Completion year: 2016. 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 NP17-574749 on WhatsApp or Telegram — I will confirm the lot is still for sale, send the full details and arrange a viewing.
Video: Damac Distinction
Reviews from the English YouTube channel — each one with a written breakdown on this site.
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