OMNIYAT · Marasi Bay · Construction Update
VELA by OMNIYAT Construction Update - May 2023
May 2023 Inspection Records VELA at 0%, the Baseline Before Construction Start in Marasi Bay
No construction activity had started on the Marasi Bay plot when inspectors visited VELA on 22 May 2023, so the register opened at a 0% baseline.
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Recorded DLD Inspection Data
VELA by OMNIYAT Construction Snapshot
A 0% first reading on 22 May 2023 places VELA at the very start of the enabling band, the stage where a buyer's protection rests on registration and escrow because no structure yet exists to inspect.
VELA by OMNIYAT
2653
Active
0%
22 May 2023
01 June 2023
38 Ultra-Luxury Residences
24,847.38 sq m
Q4 2027
Data source: the Dubai Land Department project register reading of 0% dated 22 May 2023, with the RERA Independent Progress Monitoring Report of the same date (Progress Status: Not Started), which prints no percentage of its own. Construction tracking against RERA inspection data runs across the full tohidfetrat.com project portfolio and is reviewed after every published cycle. This reading was 1,221 days old when this page was built on 24 September 2026: re-verify it on Dubai REST before publishing. The image at the top of this page is a rendering of the finished towers, not a site photograph. Last updated: May 2023.
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The First Inspection Cycle
VELA by OMNIYAT Construction Progress Summary
There is no earlier inspection to measure against: 22 May 2023 is the first entry in VELA's register. The RERA report for that date set the Progress Status to Not Started and noted that no construction activities had started at the site. The register then records construction start on 01 June 2023, ten days later, and project registration on 05 October 2023.
- No works recorded as complete at the 22 May 2023 inspection
- Project number 2653 on plot 8, Business Bay, carried on the report
- Trust account bank named on the report: Abu Dhabi Commercial Bank
- No construction activities on site at the time of inspection
- RERA Progress Status recorded as Not Started
- Inspection photographs showing an open plot behind site hoarding
- Construction start recorded in the register for 01 June 2023
- Enabling, basement and foundation works for the 4B+G+30 tower
- Concrete structure, block work, then internal and external finishes
- Handover scheduled for Q4 2027
Payment Linked Progress
What 0% Progress Means for VELA Buyers
Dubai off plan payment plans usually link installments to construction milestones, and at a 0% reading none of those milestones has been reached, so an early buyer's protection rests on paperwork rather than on concrete. For VELA at this first inspection, four actions matter most.
Verify the escrow account
Any payment toward VELA should go only to the DLD regulated escrow account registered for project 2653. VELA by OMNIYAT escrow account verification is the step before any transfer; the lookup itself takes about two minutes against the official DLD project record.
Read the SPA milestone schedule
Check how your sale and purchase agreement ties installments to construction stages and how it defines the handover date, then read those clauses against a project that recorded 0% on 22 May 2023 with handover scheduled for Q4 2027. Not sure how your installments map to this reading? Send me your SPA schedule and I will map it against the recorded milestones.
Confirm your Oqood registration
Off plan purchases are registered with the Dubai Land Department on Oqood, the interim register for units under construction. Check that your registration names project 2653; the DLD register shows the project itself registered on 05 October 2023, after this inspection.
Track the readings from zero
With nothing built at this inspection, every later dated reading is measured from this 0% baseline. VELA by OMNIYAT construction updates lists each reading in date order.
General framework, not legal advice: milestone definitions, notice periods, and registration obligations are set by your individual SPA and the DLD record, and both should be read directly.
Considering VELA From the 0% Baseline?
Entering a project at its first reading trades certainty for time: no structure exists yet, the record holds a single data point, and handover sits years ahead in Q4 2027. Every payment goes to the DLD-registered escrow account for project 2653, released against recorded construction progress.
- No structure on record: the 22 May 2023 report found no works started
- Handover scheduled for Q4 2027, more than four years after this reading
- A collection of 38 residences in two connected towers
- Structure and facade already visible in the register before paying
- A short wait between purchase and handover
- Residence choice narrowed to whatever remains unsold
Availability is not quoted on this May 2023 page: it shifts between release cycles and is confirmed per residence on request.
About the Development
VELA by OMNIYAT Project Details
At the 22 May 2023 inspection VELA was still a design: an open plot on Marasi Bay, described in the report as a tower of four basements, ground and 30 floors. The finished building holds 38 residences, priced from AED 37.00M ≈ USD 10.07M.
Committing at this point meant carrying the whole construction programme, from excavation to a handover scheduled for Q4 2027, in exchange for choosing a residence before any part of the structure existed.
VELA by OMNIYAT Project GuideSite Context This Cycle
Explore VELA by OMNIYAT Location on Dubai Map
VELA occupies plot 8 in Business Bay, on the Marasi Bay basin of the Dubai Water Canal, with the tower's outlook set toward Marasi Marina and the Burj Khalifa skyline. On 22 May 2023 that waterfront plot was still open ground behind hoarding, and a design with four basement levels beside the water puts excavation and foundations first in the programme.
Business Bay's road network, canal promenade, and utilities were long established by 2023, so the open question for VELA at this reading was construction, not infrastructure: buyers were judging a building programme inside a district that already worked. See the project's position on the interactive Dubai real estate map. See the project’s position on the interactive Dubai real estate map.
Buyer Resources for This Project
Investing in VELA by OMNIYAT Before Construction Start
Before any structure exists, residency eligibility and payment protection are the two questions a VELA buyer can already answer. Each resource below is matched to where VELA stood on 22 May 2023.
VELA by OMNIYAT Construction Updates
This page: the 22 May 2023 inspection record for VELA, the first 0% baseline reading.
VELA by OMNIYAT Golden Visa: From Any Single Waterfront Residence
OMNIYAT's VELA, a Dorchester Collection tower of 38 residences on Marasi Bay, qualifies at all five residence types.
Read VELA by OMNIYAT Golden Visa Guide
VELA by OMNIYAT: The 39-Unit Escrow at Marasi Bay
OMNIYAT's VELA at Marasi Bay escrows 39 units with Abu Dhabi Commercial Bank as DLD project 2653, 50.03% certified September 2026.
Verify VELA by OMNIYAT Escrow AccountUpdate Timeline
Other VELA by OMNIYAT Construction Updates
This is the opening page of VELA's inspection history; each later update picks up the record from this 0% baseline, reading by reading.
All VELA by OMNIYAT Construction UpdatesWhere This Update Fits
Explore VELA by OMNIYAT Structure
This first monthly report is one node in the wider record: the Marasi Bay community around plot 8, the developer behind VELA, and the listings a buyer would weigh it against.
Marasi Bay Properties for Sale
Browse branded residences, waterfront apartments and penthouses for sale by OMNIYAT at Marasi Bay.
See Marasi Bay Properties for Sale
Marasi Bay Community Overview
Read the Marasi Bay guide: OMNIYAT's ultra-luxury canal-front district of branded residences, offices and hospitality.
Explore the Marasi Bay Community
Omniyat: Ultra-Luxury Architectural Icons From Palm Jumeirah to Business Bay
Omniyat designs ultra-luxury waterfront residences and commercial landmarks, and held the largest share of the UAE's ultra-luxury segment in 2024.
View the OMNIYAT Developer ProfileFAQs
VELA by OMNIYAT Construction Progress in May 2023: Frequently Asked Questions
VELA by OMNIYAT stood at 0% in the Dubai Land Department project register at the inspection dated 22 May 2023. It is the first reading on record for project 2653, so there is no earlier figure and no change to report for this month. The reading was 1,221 days old when this page was built in September 2026 and should be re-verified on Dubai REST before it is relied on.
Q4 2027 is the scheduled handover stated for VELA, and a single 0% reading dated 22 May 2023 says nothing yet about whether the build will run to that schedule. Only the dated readings that follow this baseline show how construction moves against it, and they are listed in order on the VELA by OMNIYAT construction updates pillar. For an individual buyer, the binding completion terms are the ones written into the Sales and Purchase Agreement.
The dates are shown as recorded. The inspection took place on 22 May 2023, ten days before the construction start of 01 June 2023 recorded in the DLD register, and the inspector noted that no construction activities had started at the site.
The Independent Progress Monitoring Report dated 22 May 2023 recorded that no construction activities had started at the site and set the Progress Status to Not Started. Its photographs show an open plot behind site hoarding on plot 8 in Business Bay. The same report describes the proposed building as a tower of four basements, ground and 30 floors, with a concrete structure, block work, and internal and external finishes.
The DLD register records the project's registration date as 05 October 2023, 136 days after the 22 May 2023 inspection, although the project number 2653 already appears on the inspection report. Both dates are shown here exactly as recorded.
No. It is a rendering of the finished towers, used to identify the project. On 22 May 2023 the plot had no construction activity, and the RERA inspection photographs for that date, which show open ground and hoarding, are record documents that are not reproduced on this page.
A Question the FAQ Can Not Answer?
Your Advisor
Tohid Fetrat
Independent of the developer: I work for the buyer, and my only job on this page is helping you read the May 2023 inspection record for VELA correctly before your next payment decision. Client identities and transactions are never published or referenced. Message me directly: you will always reach me personally, never a call center or sales team.
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