−8% Vera Residence
2 BR · Apartment
About the building
29-storey residential building in Business Bay, completed in 2022. Developer — Damac Properties. Architect — U+A Architects.
What the building has
- Swimming pool
- Spa and sauna
- Children's area
- Parking
- Sports courts
- Barbecue area
- Park and landscaping
Where it is
The pin is placed by project — accurate to the development, not the door.
Business Bay
The canal district next to Downtown: conceived as offices, built mostly as apartments, now one of the most tenanted parts of the city.
- central location at a discount
- short-let on the canal
- deep tenant demand
What to check: Quality varies enormously between towers here. Walk the building on a normal weekday and get three years of service charge history before you offer — in Business Bay the building matters far more than the district average.
Full district guide →Questions and answers about lot NP8-259763
How much is this 2-bedroom apartment in Vera Residence?
Lot NP8-259763 is priced at AED 1 470 000, about $400 000. The size is 908 sq ft (84 m²), which works out at AED 1 619 per sq ft.
How much has the price of this lot been cut?
The price before the cut was AED 1 600 000; it is now AED 1 470 000 — AED 130 000 less, or 8%.
Is this expensive or cheap for Business Bay?
The database holds 332 lots in Business Bay. The area median is AED 2 990 per sq ft; this lot is at AED 1 619. A gap that wide usually means an error in the listing rather than a real price difference — I will check it when you ask. 126 lots in the area have a reduced price. The median is taken from listings in our database, not from registered sales.
Business Bay area guide →Is the property ready or still under construction?
According to the listing, the property is ready. The project passport gives 2022 as the completion year.
Can this lot be bought with a mortgage, and what would the payment be?
UAE banks lend on ready homes to both residents and non-residents. For this lot: a resident puts down from 20%, here AED 294 000; a loan of AED 1 176 000 over 25 years at 3.75–4.99% a year comes to roughly AED 6 000–6 900 a month. A non-resident puts down from 40% (AED 588 000) and pays about AED 4 500–5 200 a month. The bank approves the rate and the amount.
Run your own numbers in the mortgage calculator →What costs come on top of the price?
The main one is the Dubai Land Department registration fee: 4% of the price, AED 58 800 for this lot. On a ready property the registration trustee fee of AED 4 200 is added. With a mortgage the bank charges for processing and valuation, and the mortgage is registered for a separate fee. I will send the full calculation for this lot on request.
Does buying this lot qualify for a UAE residence visa?
On price the lot clears the classic threshold for the two-year residence visa, AED 750 000. It is AED 530 000 short of the 10-year Golden Visa, granted from AED 2 000 000. The threshold is measured by the Dubai Land Department valuation, not the contract, and only freehold qualifies.
Golden Visa and residence visas →What is known about Vera Residence?
The building has 29 floors. Completion year: 2022. Figures are from the project passport: Propsearch and the Dubai Land Department.
How do I view the property and get the exact address?
Lots in the database are anonymised: the unit number, exact address and owner's details are not published. Send the lot code NP8-259763 on WhatsApp or Telegram — I will confirm the lot is still for sale, send the full details and arrange a viewing.
Video: Vera Residence
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Nearby in Business Bay
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