DAMAC The Vera Residences
Vera Residences is an example of urban architecture and design from DAMAC Properties, located in the Business Bay district of Dubai. Live in the heart of the metropolis and enjoy stunning views of the city centre and Dubai Creek. The large balconies in the apartments allow light to enter the apartment and thereby visually increase the space. The design is made in light colours, which emphasizes the modernity and richness of the architectural solution. Vera Residences occupy 30 floors and offer studios and 1 & 2-bedroom apartments for sale.
The beautifully styled lobby and refined ambience of DAMAC Vera Residences in Business Bay sets the scene for the experience that awaits you. Come home to luxurious apartments with tastefully appointed interiors, fitted kitchens, spacious bathrooms and more.
Thanks to its location, the residents of the complex can enjoy the rich infrastructure of the area. So, around this residence there is a large number of cafes and restaurants, retail stores, entertainment centres, and so on. The nearest grocery is located 100 metres from the building.
Business Bay is a rapidly developing area that will soon become the largest business center in Dubai. It is part of a vision created by Sheikh Mohammed Rashid Al Maktoum to develop a global commercial hub in the United Arab Emirates.
High-end office space and expensive apartments are being built in the area.They will be surrounded by beautifully designed gardens and canals. The area is expected to be a great location for international companies looking to establish themselves in the Middle East.
The main feature of the luxury tower is its close proximity to the record-breaking attractions of Dubai such as the Burj Khalifa and The Dubai Mall. Moreover, due to the fact that DAMAC Vera Residences is situated in the immediate vicinity of the Dubai Water Canal, its residential units will keep adding in value in the years to come. This surge is promoted by the well-developed infrastructure which enhances relax & commercial activities on both sides of the canal.
The annual rental price for a 1-bedroom apartment in DAMAC Vera Residences starts from AED 45,000. As of July 2021, ROI is 5% across the area of Business Bay. When calculating net profit from this type of unit, one has to consider management fees of about AED 4,500 per year and 5% income tax of approximately AED 2,300. Thus, the estimated net profit in Business Bay amounts to AED 40,000.