Project
VELA By OMNIYAT
Vela by Omniyat is a 31-storey residential building under development in Business Bay, Dubai. An off-plan project of apartments in Business Bay, priced above the Business Bay median.
Small sample (25 sales): medians may move significantly with new data.

01 / Transactions
All VELA By OMNIYAT transactions
| Property | PricePer sq ft | Specs | Recorded | Open |
|---|---|---|---|---|
| AED 60,730,110AED 8,236 per sq ft | 4 beds7,373 sq ft | 27 Apr 2026Sale | ||
| AED 28,813,500AED 6,769 per sq ft | 3 beds4,257 sq ft | 7 Apr 2026Sale | ||
| AED 62,000,008Price per sq ft n/a | 4 bedsSize not recorded | 18 Aug 2025Gift | ||
| AED 50,318,100Price per sq ft n/a | 4 bedsSize not recorded | 11 Feb 2025Sale | ||
| AED 42,903,000Price per sq ft n/a | 3 bedsSize not recorded | 20 Aug 2024Sale |
21 more records
Guests see the latest 5 transactions of each project and community. Create an account to see all 26.
02 / About
About VELA By OMNIYAT
Vela by Omniyat is a 31-storey residential building under development in Business Bay, Dubai.
Vela by Omniyat at a glance
- Area
- Business Bay
- Developer
- Downtown Creek Real Estate Development
- Thoroughfare
- The residential building is located directly on the Dubai Water Canal. For more information, see our guide to the Dubai Water Canal
- Height
- 150 metres (492 feet)
- Units
- The development will contain an estimated 38 units
- Unit layouts
- Vela by Omniyat will comprise a mix of three- , four- , and five-bedroom apartments as well as penthouses
- Launch price
- At the time of the sales launch, units were priced from AED 30.3m
- Architect
- The architectural consultant is Foster + Partners and the architectural consultant is Rice Perry Ellis
- Interiors
- The interior design is being handled by Gilles & Boissier
- Contractor
- The main building work is being done by Arabian Construction Company and the foundation work is being carried out by International Foundation Group
- Structure
- The substructure contains four basement levels which are used for parking
Homes, design and facilities
The building contains 38 apartments with double-height living spaces and private terrace pools.
The name Vela derives from the Latin word for 'sail.'
Apartments have floor-to-ceiling windows, offering views of Marasi Bay and Downtown Dubai.
The units range in size from 4,253 sq ft to 11,727 sq ft.
The developer, Omniyat, has partnered with hospitality group Dorchester Collection who will manage the property and provide hotel-like amenities.
The design architect is the award-winning practice Foster + Partners, the firm behind Apple's California headquarters, France's dramatic Millau Viaduct and London's 'Gherkin' tower.
The interiors are designed by Parisian interior designer duo, Gilles and Boissier, whose projects include the Mandarin Oriental Paris; The XI residences and the Baccarat Hotel in New York; the Mandarin Oriental Ritz Madrid; and Hakkasan restaurants in Dubai and the United States.
The apartments feature unique L-shaped corner pools on their terraces.
The top of the tower houses a three-storey 22,992 sq ft 'Sky Palace' with two swimming pools and a private gym and majlis.
Residents will be able to make use of the amenities at neighbouring Omniyat building, The Lana. A golf buggy service will be available to transport residents back and forth along the Marasi promenade.
Residents of Vela will gain exclusive access to the beach club at Omniyat's Palm Jumeirah property, One at Palm Jumeirah.
- Amenities will include 24-hour security
- a beauty salon
- children's play areas
- a cinema room
- concierge and lounge facilities
- a gym
- house keeping
- a lap pool
- meeting rooms
- spa areas
- a sundeck
- valet parking services
- and world-class dining facilities
Getting around
- Dubai Mall
- 9 min
- Palm Jumeirah
- 21 min
- Burj Al Arab
- 20 min
- The Walk JBR
- 26 min
Travel times are approximate driving estimates reported by the source and vary with route and traffic.
Construction and handover
Construction began in November 2023.
- Construction Started
- November 2023
Nearby neighbourhoods
- Downtown Dubai1.6 km
- Sobha Hartland2.4 km
- Dubai International Financial Centre2.7 km
- Azizi Riviera2.8 km
VELA By OMNIYAT recorded 25 market sales from 10 Nov 2023 – 27 Apr 2026, at a median price of AED 39,159,000 (AED 7,503/sqft). VELA By OMNIYAT's median price per sqft (AED 7,503/sqft) is 206% above the Business Bay median (AED 2,451/sqft).
03 / Prices
VELA By OMNIYAT prices by bedrooms
Median prices of market sales by number of bedrooms.
| Bedrooms | Sales | Median · AED | AED / sqft | Open |
|---|---|---|---|---|
3 bedrooms | 20 | 36.94M AED | 6,769 | |
4 bedrooms | 5 | 60.73M AED | 8,236 |
Market pulse / monthly
VELA By OMNIYAT price history
Monthly median of market sales (sales, mortgages and gifts are not mixed). Periods without sales are not shown.
Median sale price · AED
Registered market sales only
View data table
| Period | Sales | Median · AED | AED / sqft |
|---|---|---|---|
| Nov 2023Total AED 107,360,986 | 3 | AED 28,998,900 | — |
| Dec 2023Total AED 113,998,500 | 3 | AED 41,580,000 | — |
| Jan 2024Total AED 438,434,246 | 11 | AED 38,193,750 | — |
| Mar 2024Total AED 31,481,835 | 1 | AED 31,481,835 | — |
| May 2024Total AED 118,644,691 | 2 | AED 59,322,346 | — |
| Jun 2024Total AED 36,417,229 | 1 | AED 36,417,229 | — |
| Aug 2024Total AED 42,903,000 | 1 | AED 42,903,000 | — |
| Feb 2025Total AED 50,318,100 | 1 | AED 50,318,100 | — |
| Apr 2026Total AED 89,543,610 | 2 | AED 44,771,805 | AED 7,503/sqft |
04 / Nearby
Other projects in Business Bay
Ranked by number of market sales.
| Project | Sales | Median · AED | AED / sqft | Open |
|---|---|---|---|---|
| 3,311 | 1.4M AED | 2,550 | ||
| 2,988 | 1.1M AED | 1,773 | ||
| 2,776 | 1.91M AED | 1,434 | ||
| 2,126 | 1.71M AED | 2,521 | ||
| 1,841 | 439.6K AED | 2,093 | ||
| 1,700 | 1.99M AED | 1,819 | ||
| 1,659 | 1.02M AED | 2,164 | ||
| 1,510 | 1.11M AED | 1,562 | ||
| 1,450 | 1.34M AED | 1,774 | ||
| 1,422 | 2.02M AED | 2,504 |
05 / Talk to us
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A registered project can include several buildings or phases, so these figures cover the whole project.