About VELA by OMNIYAT
VELA by OMNIYAT is a retail tower by Downtown Creek Real Estate Development, in Business Bay, Dubai. It rises 31 storeys (4 basement levels, a ground floor and 30 floors), built as a concrete structure with internal and external finishes. The project comprises 39 homes.
Key information
Developer
Downtown Creek Real Estate Development
- Expected handover
- TBC
- Status
- Under construction
- Location
- Business Bay, Dubai
- Master project
- Business Bay
- Construction started
- 2023
- Number of buildings
- 1
- Number of units
- 39
- Registered with DLD
- 05 Oct 2023
- Escrow bank
- Abu Dhabi Commercial Bank
- Escrow account no.
- 12742165920002
- DLD transfer fee
- 4%
Source: official Dubai Land Department project data.
Project timeline
- Construction started2023
- Under construction29% complete
- Expected handoverTBC
Construction progress
33 inspection photos from the Dubai Land Department. Latest 17 Mar 2026 at 29% complete.
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Amenities
Physical features recorded on the Dubai Land Department buildings register.
Swimming Pool
Covered Parking
7 Elevators
35 Floors
Retail & Shops
Sales and prices
Recorded sales from the Dubai Land Department register, not asking prices.
Recorded sales
26
Median price
AED 39.5M
Median price / sqft
AED 7K+7%
Off-plan share
100%
Priced 301% above than the Business Bay median of AED 2K/sqft.
Sold by bedroom
| Layout | Sold | Typical size | Avg price | Avg / sqft |
|---|---|---|---|---|
| 3 Bed | 21 | 5,569 sqft | AED 36.8M | AED 7K |
| 4 Bed | 5 | 7,782 sqft | AED 59.5M | AED 8K |
Price per sqft by year
+7% since 2023AED/sqft
Recent recorded sales
| Date | Type | Size | Price | Price / sqft |
|---|---|---|---|---|
| 27 Apr 2026 | Off-plan | 7,373 sqft | AED 60.7M | AED 8K |
| 07 Apr 2026 | Off-plan | 4,257 sqft | AED 28.8M | AED 7K |
| 05 Feb 2026 | Off-plan | 6,047 sqft | AED 40.6M | AED 7K |
| 11 Feb 2025 | Off-plan | 7,351 sqft | AED 50.3M | AED 7K |
| 20 Aug 2024 | Off-plan | 6,302 sqft | AED 42.9M | AED 7K |
| 26 Jun 2024 | Off-plan | 5,988 sqft | AED 36.4M | AED 6K |
| 27 May 2024 | Off-plan | 6,047 sqft | AED 44.6M | AED 7K |
| 22 May 2024 | Off-plan | 8,462 sqft | AED 74.0M | AED 9K |
Unit mix
39 registered units, by layout and size, from the Dubai Land Department.
| Layout | Units | Size range |
|---|---|---|
| Commercial | 1 | - |
| 3 B/R | 23 | 4,253 - 6,361 sqft |
| 4 B/R | 14 | 7,264 - 11,727 sqft |
| 5 B/R | 1 | 22,992 sqft |
Payment plan
Payment plans are set by Downtown Creek and change with each release. We'll send the plan that applies to the units available now, with the milestone breakdown.
Request the payment planLocation
Approximate location in Business Bay, Dubai.
Business Bay
Dubai, United Arab Emirates
Frequently asked questions
VELA by OMNIYAT has a planned handover of a date not yet on the register, and the latest DLD inspection puts construction at 29% complete.
