Vela, Dorchester Collection Dubai

Whole ownership of one of 38 residences, bought off plan from the developer, Omniyat. The tower is under construction and the developer gives completion as the fourth quarter of 2027, so what you sign first is a sale and purchase contract, recorded on the Dubai Land Department's provisional register through the Oqood portal within 90 days of signing. The title deed follows on completion. Non-UAE nationals, resident or not, may hold freehold title in the areas of Dubai designated under Article 3 of Regulation No. 3 of 2006. The block is jointly owned property, so a share of the common areas comes with the unit. The tenure for your unit is confirmed for the specific residence before you commit.

There are no fixed weeks and no booking calendar. The residence is yours year round and you may leave it empty. Letting is the part that carries rules. Every apartment let short term in Dubai must be registered and approved by the Department of Economy and Tourism before it is listed, and the house rules for the block sit with the owners association, so letting an owner residence is subject to availability of that permit and to those rules. Access to the hotel facilities at The Lana next door, the spa among them, is described by the developer as a membership. Berthing at the Marasi Bay marina yacht club is a separate membership, subject to availability.

The annual charge is the service and usage charge on jointly owned property. The management company files a detailed annual budget with at least three tenders for each service provider, the Dubai Land Department approves it through the Mollak system, and the approved figures are then displayed on Mollak and on the department's own website. The charge is assessed on the area of each unit and covers the common areas, plant, insurance, maintenance and the shared utilities set out in that budget. No rate has been approved for Vela, because the tower is not finished, so the figure is confirmed for the specific residence before you commit.

The developer splits the service into two parts, and the list below marks which is which. A classic package covers the 24 hour residence concierge, doorman and porter, valet parking, lifeguard and gym attendance, 24 hour security, and cleaning and maintenance of the common areas. Housekeeping, laundry, maintenance inside the residence, in residence catering, floristry and bookings are a la carte and charged when used. Dorchester Collection manages the residences.

Foster + Partners designed the tower and the Parisian duo Gilles & Boissier the interiors, both for Omniyat. The developer gives 30 floors rising to 492 feet, or 150 metres, and a floor area of 272,860 sq ft holding 38 residences: marina residences of 3 and 4 bedrooms from 4,253 to 7,374 sq ft, sky residences at 6,302 and 8,462 sq ft, three penthouses of 4 bedrooms from 11,048 to 11,727 sq ft, and a 5 bedroom Sky Palace of 22,992 sq ft over three floors with two swimming pools, terraces, a private gym and a majlis. L shaped corner pools wrap the residences, and arrival is under a quadruple height colonnade on the marina.

The main contract went to ACC. In its August 2026 update the developer put the structure at level 28, three levels short of topping out, blockwork and plaster at level 22 and facade installation at level 10, with all subcontractor packages awarded and the first in place residence nearing completion. The contractor's formal completion date is August 2027 and the developer gives handover in the fourth quarter of 2027. At the groundbreaking the projected handover was the fourth quarter of 2026, so the programme has moved by a year.

Marasi Bay sits on the Dubai Canal in Business Bay, in what the developer calls the Burj Khalifa District, between Downtown Dubai and Dubai Design District. The Lana, Dorchester Collection, Dubai stands next door on Marasi Drive with its promenade of restaurants, and Sunset Park adjoins the tower. The operator puts the hotel about 20 minutes' drive from Dubai International Airport, close to Dubai Mall, with the Burj Khalifa in view. Omniyat is building out the rest of the bay: Marasi Bay Island with the first beach club in the district, a padel court, and a private jetty drop off for residents. Shaded walkways, mist cooling zones and hydration stations are planned for the summer months.

Dubai is open to foreign buyers. Non-UAE nationals may hold freehold title in the designated areas, and a non-resident buys on a passport rather than an Emirates ID. Off plan, the contract is signed with Omniyat, payment runs through the project escrow account, and registration on the provisional register costs 2% of the sale value from the seller and 2% from the purchaser, plus AED 10 knowledge and AED 10 innovation fees. A later resale is transferred over the counter at a Real Estate Registration Trustee office, again at 2% each, with AED 250 for the title deed certificate and a trustee fee of AED 4,000 plus VAT where the sale value is AED 500,000 or more.

Avory works with Omniyat's sales office on the residences still unsold off plan, and with owners and their agents on resales. After an enquiry you get the availability list, floor plans and unit areas, the payment plan, the draft sale and purchase contract, and the rules on letting. There is no published price. No service charge is approved yet, and owner stays cannot be arranged until handover, after which Avory arranges them directly, subject to availability. Request access.