Elegance Tower
2 BR · Apartment
About the building
30-storey residential building in Downtown Dubai. Developer — Damac Properties. Architect — Gulf Engineering & Consultants и Kieferle & Partner.
What the building has
- Swimming pool
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 P3-359292
How much is this 2-bedroom apartment in Elegance Tower?
Lot P3-359292 is priced at AED 3 100 000, about $844 000. The size is 1 126 sq ft (105 m²), which works out at AED 2 753 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.
Is this expensive or cheap for Downtown Dubai?
The database holds 175 lots in Downtown Dubai, starting from AED 1 300 000. The area median is AED 3 509 per sq ft; this lot, at AED 2 753, is 22% below it. 47 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?
According to the listing, the property is still under construction; the seller gives no handover date — I will confirm it with the developer when you ask.
Can I get a mortgage on this lot while it is still under construction?
During construction the buyer pays the developer under the payment plan — UAE banks grant standard mortgages on ready homes. A loan is possible for the final payment, once the property has its completion certificate.
Mortgage for the final payment →What costs come on top of the price?
The main one is the Dubai Land Department registration fee: 4% of the price, AED 124 000 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 3 100 000. 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 Elegance Tower?
The building has 30 floors and 296 units. 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 P3-359292 on WhatsApp or Telegram — I will confirm the lot is still for sale, send the full details and arrange a viewing.
Nearby in Downtown Dubai
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