3-Bedroom Vela by Omniyat Apartment in Business Bay, AED 600K Below Original Price

Property Overview

This is an off-plan three-bedroom residence at Vela by Omniyat in Business Bay, Dubai, offered at AED 41,000,000 for 6,302 sq ft. The seller's stated original purchase price is AED 41,600,000, so the asking price sits AED 600,000 (1.4%) below OP, at roughly AED 6,506 per sq ft. The listing is a resale of a unit in a 38-residence tower managed by Dorchester Collection.

Property Highlights

• Asking price: AED 41,000,000
• Original purchase price (seller-stated): AED 41,600,000
• Saving versus OP: AED 600,000 (1.4%)
• Size: 6,302 sq ft
• Price per sq ft: approximately AED 6,506
• Bedrooms: 3
• Status: off-plan resale; developer-announced handover expected Q2 2027
• Developer: Omniyat; residences managed by Dorchester Collection

Why the Price Qualifies as Below OP

The agent brief states an original purchase price of AED 41,600,000 and a selling price of AED 41,000,000. Because the asking price is lower than the original price, the listing qualifies as Below OP. The saving is AED 600,000, which is 1.4% of the original price. At the original price the unit worked out to about AED 6,601 per sq ft; at the asking price it is about AED 6,506 per sq ft.

The discount is modest in percentage terms. This comparison measures the asking price against the seller's own purchase price only; it is not a claim that the unit is priced below current market value or below recent DLD transactions, as no such benchmark was supplied.

About Vela, Omniyat and Marasi Bay

Vela is an ultra-luxury residential tower developed by Omniyat on the Marasi Bay waterfront in Business Bay, within the Burj Khalifa District. According to Omniyat, the tower rises over 150 metres across 30 floors and contains only 38 fully furnished residences, designed with signature curves, wraparound terrace pools and glass façades.

The architecture is by Foster + Partners, with interiors by Gilles & Boissier, and the residences are managed by Dorchester Collection. The project's residence mix includes three- and four-bedroom Marina and Sky Residences, four-bedroom penthouses and a five-bedroom Sky Palace.

Vela sits next to The Lana, Dorchester Collection, Dubai, Omniyat's hotel and residences that opened in Q1 2024. Omniyat has announced that Vela residents will have access to Dorchester Collection services at The Lana, with a golf-buggy service along the promenade, and to the beach club at One at Palm Jumeirah. Announced building amenities include an infinity-edge lap pool, a triple-height gym, a spa suite, a salon and a cinema room.

Omniyat appointed Arabian Construction Company (ACC Group) as main contractor for Vela and its sister tower, Vela Viento, and has stated an expected Vela handover in Q2 2027.

Layout, Floor and View

The agent brief confirms a three-bedroom apartment of 6,302 sq ft. Floor level, view, bathroom count, parking allocation and terrace or pool configuration for this specific unit were not supplied. Buyers should request the unit's floor plan and confirm these details before making an offer.

Payment Plan and Handover

The brief does not state the amount already paid to the developer, the outstanding balance or the remaining payment schedule. Omniyat's most recent public guidance points to a Q2 2027 handover for Vela. Buyers should confirm the paid amount, outstanding instalments, transfer fees and the handover date stated in the SPA with the seller and developer.

Location and Connectivity

Marasi Bay lies on the Dubai Water Canal side of Business Bay, beside Downtown Dubai. Omniyat describes the district as connected to Downtown Dubai, Business Bay, DIFC, Dubai Design District and Dubai International Airport. Exact travel times depend on traffic and the route taken.

Verification Notes

• Agent-supplied: project, location, property type, bedrooms, size, original price, selling price and the Below OP classification.
• Calculated by DPF: savings amount, savings percentage and price per sq ft.
• External research: tower height, floors, residence count, designers, operator, amenities, contractor and expected handover, taken from Omniyat announcements.
• Not verified: unit number, floor, view, bathrooms, parking, payment status and current availability.