What does VELA by OMNIYAT cost per square foot?

AED 6,769 per sqft, the median of 3 registered off-plan sales in the 12 months to 12 Oct 2026; the median unit sold for AED 40.62M.

Is VELA by OMNIYAT in escrow?

Yes: the Land Department register names بنك ابوظبى التجارى as the project’s escrow agent, the bank that holds buyers’ payments for the developer. Dubai Land Department project register as of July 2026.

Who is the developer of VELA by OMNIYAT?

The register names the master developer, Business Bay LLC, which owns the land; the company building the project is not recorded. Dubai Land Department project register as of July 2026.

How many units does VELA by OMNIYAT have?

38 registered units, of which 0 have a title issued. A title is issued at handover, so a live project shows few or none however many units have sold. Dubai Land Department project register as of July 2026.

Off-plan · DLD project register as of 6 Jul 2026

VELA by OMNIYAT

Under construction · 38 units · started Jun 2023 · Business Bay

12% built in July 2026; the register gives no handover date. Off-plan units sell at AED 40.62M (AED 6,769/sqft) over 3 sales in 12 months.

Off-plan price, typical unit

40.62MAED

AED 6,769/sqft · 3 sales in 12 months

Built12%

Started Jun 2023

DLD project register, Jul 2026

Median off-plan sale: AED 40.62M
Titles issued: 0 of 38
Escrow: بنك ابوظبى التجارى

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Is VELA by OMNIYAT a safe off-plan buy?In escrow; 12% built; no record of the builder

Is it on schedule?12% built in July 2026; the register gives no handover date · DLD project register, Jul 202612%Context
Is my money protected?Payments go to an escrow account at بنك ابوظبى التجارى, as registered with the Land DepartmentEscrowContext
Is the price fair?AED 6,769/sqft over 3 off-plan sales; too few sales to compare6,769Context
Is it selling?3 off-plan sales registered in the last 12 months, of 38 units; the latest on 27 Apr 20263Context
Who is building it?The register names the master developer, Business Bay LLC; the builder is not recordedNo record

A registered date is not a delivery forecast · 79% of recorded completions carry their planned date to the day · DLD register, July 2026

Check an asking price →How each reading works →

What is being built38 units, mostly three-beds; none titled yet

Type	Share of the building	Units	Size, sqft (p10–p90)	Titled
3 bed		2361%		4,257–6,361	0
4+ bed		1539%		7,343–11,713	0

DLD unit register · balconies a median 43% of unit area · median off-plan sale AED 40.62M

Every unit, floor by floor →

Sizes run from the 10th to the 90th percentile of registered floor area, so one mislabelled unit cannot set the range. A title is issued at handover: a live project shows few or none however many units have sold, and an untitled unit is not necessarily for sale.

Every unit, as registered

38 units in DLD’s register for VELA by OMNIYAT, floor by floor.

Show 38 of 38 units

Floor	Unit	Type	Sqft	Balcony	Title issued
1	1 · 101	4+ bed	7,338	2,440	Not yet
2	1 · 201	3 bed	5,988	2,697	Not yet
3	1 · 301	4+ bed	7,351	2,476	Not yet
4	1 · 401	3 bed	6,361	3,070	Not yet
4	1 · 402	3 bed	6,337	2,893	Not yet
5	1 · 501	4+ bed	7,373	2,479	Not yet
5	1 · 502	3 bed	4,257	1,297	Not yet
6	1 · 601	3 bed	6,361	3,070	Not yet
6	1 · 602	3 bed	6,047	2,603	Not yet
7	1 · 701	4+ bed	7,373	2,479	Not yet

A title is issued at handover. “Not yet” means no title, which a reserved unit and an unsold one share; the register does not say which is for sale.

How other Business Bay projects are tracking2 of the 3 nearest-to-finished are past their registered dates

Project	%
Burj Pacific	99%	Jan 2023 · past date
Al Habtoor Tower	90%	Dec 2026
West Bay Tower	77%	Feb 2024 · past date
VELA by OMNIYATthis project	12%	—

“Past date”: the registered date has already passed · 12 of 30 live Business Bay projects past theirs · DLD register and inspections, October 2026

All 117 Business Bay projects →

As registered with the Land DepartmentWhere VELA by OMNIYAT is, and who is on its register row

Escrow agent: بنك ابوظبى التجارى
Master developer: Business Bay LLC
Registered start: June 2023
Configuration: Proposed Tower 4B+G+30 floors + Retail B03 1 unit.The project designed to have a concrete structure and block with internal and external finishes.

Pills show median resale price per sqft, AED. 1 of 1 published tower pinned; verify a plot before relying on it.Open in Apple Maps

Construction progress is the percentage DLD recorded in its project register as of July 2026, the latest DLD record for this project; the register lags DLD’s inspections by months, so it is dated separately. The developer is the company licensed to build it, by the register’s own licence number; the master developer owns the land under it and is often another company entirely. Off-plan price is the median of registered off-plan sales across this project’s published buildings, 12 months to 12 Oct 2026.

Published buildings in VELA by OMNIYAT

Towers inside this project that have enough registered resales for their own record.

Vela By Omniyat

Business Bay · 3 sales, 12 months

6,769

AED/sqft, resale median

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Common questions

What does VELA by OMNIYAT cost per square foot?: AED 6,769 per sqft, the median of 3 registered off-plan sales in the 12 months to 12 Oct 2026; the median unit sold for AED 40.62M.
Is VELA by OMNIYAT in escrow?: Yes: the Land Department register names بنك ابوظبى التجارى as the project’s escrow agent, the bank that holds buyers’ payments for the developer. Dubai Land Department project register as of July 2026.
Who is the developer of VELA by OMNIYAT?: The register names the master developer, Business Bay LLC, which owns the land; the company building the project is not recorded. Dubai Land Department project register as of July 2026.
How many units does VELA by OMNIYAT have?: 38 registered units, of which 0 have a title issued. A title is issued at handover, so a live project shows few or none however many units have sold. Dubai Land Department project register as of July 2026.

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Off-plan record for VELA by OMNIYAT

Record type: Project-level off-plan register record
Data date: 2026-10-12
Evidence base: 38 registered units; DLD project register as of 2026-07-06
Sources: Dubai Land Department project register, construction inspections and title register; sale transactions
Canonical record: /off-plan/apartments/dubai/business-bay/vela-by-omniyat
Method: Definitions and calculations

Cite as: Dubai Wealth Index. “VELA by OMNIYAT, off-plan.” Business Bay, Dubai. Register to 2026-07-06, data to 2026-10-12. https://dubaiwealthindex.com/off-plan/apartments/dubai/business-bay/vela-by-omniyat