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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.

ApartmentOff-plan
VELA by OMNIYAT, Dubai

01 / Transactions

All VELA By OMNIYAT transactions

Transaction type
Property type
Bedrooms
Status
Sort
5 visibleShowing 1–5
Registered transactions. Prices in AED.
PropertyPricePer sq ftSpecsRecordedOpen
VELA by OMNIYAT
Business Bay · Apartment · Off-plan
AED 60,730,110AED 8,236 per sq ft4 beds7,373 sq ft27 Apr 2026Sale
VELA by OMNIYAT
Business Bay · Apartment · Off-plan
AED 28,813,500AED 6,769 per sq ft3 beds4,257 sq ft7 Apr 2026Sale
VELA by OMNIYAT
Business Bay · Apartment · Off-plan
AED 62,000,008Price per sq ft n/a4 bedsSize not recorded18 Aug 2025Gift
VELA by OMNIYAT
Business Bay · Apartment · Off-plan
AED 50,318,100Price per sq ft n/a4 bedsSize not recorded11 Feb 2025Sale
VELA by OMNIYAT
Business Bay · Apartment · Off-plan
AED 42,903,000Price per sq ft n/a3 bedsSize not recorded20 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
View location on Google Maps

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.

Market sale medians. Prices in AED.
BedroomsSalesMedian · AEDAED / sqftOpen
3 bedrooms4,257 sqft
2036.94M AED6,769
4 bedrooms7,373 sqft
560.73M AED8,236

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
Exact figures behind the chart
PeriodSalesMedian · AEDAED / sqft
Nov 2023Total AED 107,360,9863AED 28,998,900—
Dec 2023Total AED 113,998,5003AED 41,580,000—
Jan 2024Total AED 438,434,24611AED 38,193,750—
Mar 2024Total AED 31,481,8351AED 31,481,835—
May 2024Total AED 118,644,6912AED 59,322,346—
Jun 2024Total AED 36,417,2291AED 36,417,229—
Aug 2024Total AED 42,903,0001AED 42,903,000—
Feb 2025Total AED 50,318,1001AED 50,318,100—
Apr 2026Total AED 89,543,6102AED 44,771,805AED 7,503/sqft

04 / Nearby

Ranked by number of market sales.

Projects ranked by market sales. Prices in AED.
ProjectSalesMedian · AEDAED / sqftOpen
01
Binghatti Skyrise422 – 2,288 sqft
3,3111.4M AED2,550
02
Churchill Tower610 – 2,658 sqft
2,9881.1M AED1,773
03
DAMAC Towers by Paramount451 – 2,801 sqft
2,7761.91M AED1,434
04
Bay Square435 – 5,242 sqft
2,1261.71M AED2,521
05
Tamani Arts Offices278 – 5,655 sqft
1,841439.6K AED2,093
06
Al Habtoor City803 – 10,137 sqft
1,7001.99M AED1,819
07
Prive by DAMAC372 – 1,792 sqft
1,6591.02M AED2,164
08
Aykon City331 – 1,703 sqft
1,5101.11M AED1,562
09
Aykon City 2408 – 1,302 sqft
1,4501.34M AED1,774
10
Peninsula Four491 – 3,633 sqft
1,4222.02M AED2,504

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A registered project can include several buildings or phases, so these figures cover the whole project.