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Vera Residences, Business Bay

Vera Residences, Business Bay

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Business Bay, Dubai

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Strengths

Prime Location

Modern Amenities

Eco-Friendly Design

Weakens

High Maintenance Fees

Limited Parking Space

Noise from Surrounding Areas

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Buildign Overview

Summary

  • Vera Residences is a modern residential development nestled in the vibrant Business Bay area of Dubai.
  • This prime location offers residents easy access to prominent attractions such as the Burj Khalifa, Dubai Mall, and a plethora of dining and entertainment venues.
  • Public transportation options include the nearby Business Bay Metro Station, enhancing connectivity to the rest of the city.
  • Compared to neighboring properties, Vera Residences stands out for its contemporary design and rich amenities.

Properties Overview

  • The building features a range of properties, including stylish studios, one-bedroom, and two-bedroom apartments suitable for both rental and purchase.
  • Currently, rental prices range from AED 60,000 to AED 100,000 annually, while sales prices typically range from AED 850,000 to AED 1.5 million depending on the unit type and view.
  • One of the most sought-after units is the one-bedroom apartment, noted for its spacious layout and stunning views of the Dubai skyline.

Market Trends

  • In the past year, rental prices in Business Bay have increased by approximately 7%, indicating a strong demand for residential spaces.
  • Sales trends show a consistent appreciation, with an average ROI of around 5-7%, making it an attractive option for investors.
  • Future expectations suggest that as Business Bay continues to develop, prices and demand will further escalate.

Living and Investing in the Building

Amenities, Schools, and Healthcare

  • Nearby amenities include supermarkets like Spinneys and Carrefour, alongside esteemed educational institutions such as GEMS Education and Dubai International School.
  • Healthcare services are readily available with hospitals and clinics, including the American Hospital Dubai and Mediclinic, within close proximity.

Transportation and Accessibility

  • The locality is well-connected with public transportation options, including taxis and buses, ensuring easy travel throughout Dubai.
  • Dedicated parking spaces are available for residents and their guests, with convenient access to major roadways.

Lifestyle Amenities

  • Vera Residences boasts various recreational facilities such as a swimming pool, fitness center, and landscaped gardens.
  • A variety of dining options and leisure activities can be found nearby, from high-end restaurants to casual cafes.

Builing Facilities

  • The building features key modern amenities, including high-speed elevators, 24/7 security, central air conditioning, and efficient maintenance services.

Special Services

  • Residents enjoy additional conveniences such as concierge services, a dedicated business center, and communal areas for relaxation and social gatherings.

Planning Your Move or Investment

Floor Plans and Property Types

  • A selection of floor plans is available, accommodating diverse lifestyles and preferences, from cozy studios to spacious family apartments.

Things to Consider

  • Potential tenants and buyers should consider factors such as proximity to workplaces, the cost of living, and the projected development of the surrounding area.

Useful FAQs and Support

Events and Building Life

Building Events

  • Vera Residences hosts regular community events, such as seasonal celebrations and resident meet-and-greets, fostering a sense of community among residents.

Community Identity

  • The building is characterized by its sleek architectural style and is recognized for its commitment to sustainable living, making it a unique choice in Business Bay.

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Detailed Buiding Insights

1. Family Friendliness

Vera Residences offers family-friendly amenities such as children's play areas and proximity to schools, making it a good choice for families. However, the urban setting may not appeal to everyone.

Moderately Welcoming

2. Living Options

The residences feature a range of living options, from compact studios to spacious multi-bedroom homes, catering to various family sizes and lifestyles.

Broadly Diverse

3. Safety And Security

The community is well-secured with 24/7 surveillance and controlled access, giving residents peace of mind concerning their safety.

Remarkably Secure

4. Transportation

Vera Residences boasts excellent transport links, including easy access to metro services and major roads, facilitating quick commutes to other city areas.

Highly Convenient

5. Amenities And Facilities

Residents enjoy a variety of amenities including a gym, pool, and community spaces, supporting an active and social lifestyle.

Richly Equipped

6. Cost Of Living

While rents are on the higher side, they are balanced by the high-quality facilities and services offered, making the cost reasonable for the value provided.

Relatively Balanced

7. Things To Do

Located in a bustling area, residents have easy access to shops, restaurants, and cultural attractions, offering plenty of leisure activities.

Vibrantly Diverse

8. Noise Levels

Despite being in a lively urban setting, sound-proofing in residences helps ensure a quiet living experience, with minimal disturbances from the surrounding environment.

Generally Peaceful

9. Pet Friendliness

The community allows pets and offers amenities such as pet parks, making it a good choice for pet owners, although some restrictions may apply.

Warmly Accommodating

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Key Information

Developer: DAMAC Properties

Building Type: Residential

Building Age: 12 years(completed in 2012)

Unit Types : Studio, 1 and 2-bedroom apartments

Floors: 29

Community Insights
Mostly apartments | Luxury | Well connected
Lowest: 135K - 260K AED/year

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