Edgewater Residences Phase 3: Apartments on Dubai Islands with a 10% Entry Point
MGS Development launched Phase 3 of Edgewater Residences on Dubai Islands in late 2024. It is an apartment project, the third phase in the Edgewater Residences series, with handover targeted for September 2026. Construction started in August 2024, so buyers entering now are coming in roughly a year into the build cycle.
Dubai Islands: What the Address Actually Means
Dubai Islands is a waterfront district sitting off the Deira coastline, connected to the mainland via road. It is a relatively new development area, positioned as a coastal alternative to established communities further south along the marina corridor. For a buyer, that means you are getting into a district that is still forming.
The practical trade-off is clear. You give up the immediate amenity density of a mature community, and in return you get earlier pricing in an emerging waterfront location. Daily commute to central Dubai business hubs will depend on traffic crossing the island connectors, so this address suits buyers who prioritize the coastal setting over minimizing commute time.
What AED 1.9M to AED 3.5M Buys Here
The price range runs from AED 1,945,300 at the low end to AED 3,496,209 at the top. That is a spread of roughly AED 1.55 million across the apartment inventory, which tells you there is real variation in the units on offer.
At the lower end, you are looking at smaller apartments where the Dubai Islands location and new build quality are the primary draw. At AED 3.5M, you are in larger unit territory, where the waterfront positioning and indoor pool access start to justify the premium against comparable inland options.
For investors, the entry point around AED 1.95M in a coastal district is the relevant starting figure. For end-users, the upper range starts to compete with more established waterfront addresses, so the comparison set matters.
Getting In for 10%
The payment structure is straightforward.
| Milestone | Payment |
|---|---|
| Down payment | 10% |
| During construction | 50% |
| Handover | 40% |
At 10%, the down payment is low. That limits the upfront commitment and makes entry to this project accessible. The construction phase carries 50% of the total price across the build period. The remaining 40% falls due at handover in September 2026, which is the largest single payment moment in this structure.
The Apartment Product
All units are apartments. This is a single property type project, which keeps the buyer profile relatively consistent. Apartments on Dubai Islands at this price range attract both investors looking for rental returns in a waterfront location and owner-occupiers who want a newer building with a coastal address.
Amenities: The Resident Profile This Suits
| Category | Amenities |
|---|---|
| Fitness & Wellness | Gymnasium, Indoor Swimming Pool |
| Outdoor & Social | Landscaped Gardens, Barbecue Area |
| Family | Children's Play Area |
| Dining & Services | Restaurants |
| Security | CCTV Security |
The indoor pool is the standout item here. An indoor pool in an apartment building at this price point signals a year-round amenity rather than a seasonal one, which matters in Dubai's summer months. The combination of a gym, outdoor gardens, and barbecue area points at a building that expects residents to spend time in the common areas.
The children's play area and restaurants suggest MGS is targeting families and longer-term residents rather than pure investor buyers. This is not a stripped-down investment product. The amenity set asks residents to treat the building as a place to live, not just a unit to hold.
Timeline: 15 Months to Handover
Construction started in August 2024. Completion is targeted for September 2026. That gives buyers entering now roughly 15 months until handover from mid-2025.
For an off-plan buyer, that is a relatively short remaining construction window. The project is already underway, which reduces some of the execution uncertainty compared to pre-launch purchases. Buyers who want to minimize the off-plan wait period will find this timeline more attractive than longer-dated projects.