Edgewater Residences Phase 3 by MGS Development, developer's render

Off-plan · Freehold

Dubai Islands · Dubai

Edgewater Residences Phase 3

by MGS Development · handover Q4 2026

AED 1.95Mstarting price today

AED 2,821registered per sq ft

39sales in 12 months

328units

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Q4 2026Planned handover

MGS DevelopmentDeveloper

328Units registered

5.2% builtConstruction

FreeholdOwnership

3177DLD project number

1 to 3 bedroomsHomes on offer

About the project

Edgewater Residences Phase 3, in plain numbers.

Edgewater Residences Phase 3 is an off-plan residential project by MGS Development in Dubai Islands (Palm Deira), Dubai. It is registered with the Dubai Land Department as project 3177, a g+2p+12f+r residential building. the project designed to have a concrete structure and block with internal and external finishes. scheme, with works dated from November 2024 and 5.2% built at the last inspection. Handover is planned for Q4 2026. 328 units are registered, mostly one-bedroom homes of about 883 sq ft and 2-bedroom homes of about 1,302 sq ft. The register shows 147 sales since October 2025, 39 of them in the last twelve months, at a median of AED 2,821 per sq ft.

Our view

Entry price under AED 2.5M
57% above ready resales in Palm Deira per sq ft
39 registered sales in 12 months
Keys this year

Registered projects only. Every project we show is registered with the Dubai Land Department; payments go into a RERA-supervised escrow account in the developer's name.

Prices and units

What is in Edgewater Residences Phase 3.

Units by type from the Land Department's register, the prices they have sold at, and the developer’s price list on request.

Type	Units in the project	Typical size	Registered sales, 2 years	Median price	AED / sq ft
1 bedroom	166	883 sq ft	94	AED 2,189,584	2,716
2 bedrooms	105	1,302 sq ft	34	AED 2,947,650	2,428
3 bedrooms	57	2,260 sq ft	18	AED 5,151,151	2,250

Matched to the Land Department project Edgewater 3 (project no. 3177).

Payment plan

How you pay.

10%50%40%

10%
On booking (down payment)10% of the price, about AED 195K on the starting price
50%
During construction50% of the price, about AED 973K on the starting price
40%
On handover40% of the price, about AED 778K on the starting price

A post-handover plan is also offered, where part of the price is paid after you receive the keys; ask us for its schedule.

Payment plan 10/50/40 as published by the developer, checked 26 Sept 2026. Plans change during a launch; we confirm the current one in writing before you reserve.

From the Land Department register

What Edgewater Residences Phase 3 actually sells for.

Registered sale prices, not the developer's list prices.

AED 2,821median per sq ft, last 12 months

39sales registered in 12 months

147sales registered in total, since October 2025

+57%against ready homes in Palm Deira (AED 1,792 per sq ft)

Median registered price per square foot each quarter; the bars below count the sales. The shaded band holds the middle 60% of sales over the last 12 months.

Most recent registered sales
Date	Bedrooms	Sq ft	Price	AED / sq ft	Stage
10 Sept 2026	1 B/R	846	AED 2,236,354	2,643	Off-plan
8 Sept 2026	1 B/R	786	AED 2,275,880	2,895	Off-plan
16 Jul 2026	1 B/R	786	AED 2,227,458	2,834	Off-plan
4 Jun 2026	2 B/R	1,261	AED 2,999,543	2,379	Off-plan
11 May 2026	1 B/R	789	AED 2,235,692	2,834	Off-plan
28 Apr 2026	1 B/R	846	AED 2,238,914	2,646	Off-plan
14 Apr 2026	1 B/R	787	AED 2,199,608	2,797	Off-plan
10 Apr 2026	1 B/R	795	AED 2,232,255	2,806	Off-plan

Source: Dubai Land Department open data, matched by the registered project name. Unit numbers are never shown.

Location

Where it is.

Dubai Islands, Palm Deira, Dubai.

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Buying off-plan in Dubai

What it costs beyond the price.

Land Department registration (Oqood): 4% of the price, usually paid with the booking instalment, plus the developer's small registration fee.
No agency fee to you when you buy from the developer: the developer pays our commission.
Your payments go into the project's escrow account, released to the developer as construction is certified.
At handover: service charges start, and a mortgage can finance the final payment if the plan allows it.

General guidance; we confirm every fee for this project in writing before you reserve.

Good to know

Questions people ask.

When is Edgewater Residences Phase 3 handed over?

The developer plans handover for Q4 2026; the Land Department recorded the project at 5.2% built. Launch dates can move, and we track the registered progress for you.

Who is the developer of Edgewater Residences Phase 3?

MGS Development (registered as M G S Development L.L.C). The project is registered with the Dubai Land Department as number 3177.

What is the payment plan for Edgewater Residences Phase 3?

10% on booking (down payment), 50% during construction, 40% on handover. We confirm the current plan in writing before you reserve.

What is the price per square foot in Edgewater Residences Phase 3?

Registered sales over the last 12 months have a median of AED 2,821 per sq ft, against about AED 1,792 for ready homes in Palm Deira.

Can foreigners buy in Edgewater Residences Phase 3?

Yes. Edgewater Residences Phase 3 is freehold, so buyers of any nationality can own the property outright, registered in their own name with the Land Department.

Is buying off-plan safe?

Payments for a registered off-plan project go into a RERA-supervised escrow account, and your purchase is registered with the Land Department (Oqood). We check the developer's completed projects and the registered sales before we recommend a project.