MGS Development: setting up a property you have never visited
A developer building on the Dubai Islands. Between handover and the first tenant there is a list of connections and registrations, and every one of them needs someone on the ground.
Edgewater Residences
Dubai Islands · MGS Development
Project factsheet
Storeys 15
Developer MGS Development
Status Under development
District Dubai Islands
Photos and renders of the building and grounds — not of this particular unit.
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About the building
15-storey residential building in Dubai Islands. Developer — MGS Development. Architect — Abdul Rahim Architectural Consultants.
Specifications for Edgewater Residences per Propsearch and the Dubai Land Department. They describe the whole building, not the individual unit.
About the project
Edgewater Residences is a 15-storey residential building in Dubai Islands, currently under construction.
The developer is MGS Development. The architecture is by Abdul Rahim Architectural Consultants.
The database currently holds 1 lot in this project, from 2 199 000 AED; 1 of them priced below the market, the deepest discount 8%.
Five MGS Development buildings on the Dubai Islands with direct beach access. One-bedrooms from 60 square metres start from $545,000; the specification includes Grohe fixtures, a fitted kitchen and wardrobes.
Prices and floor area
One-bedrooms from 60 m² start from $545,000, two-bedrooms from 100 m² start from $790,000, with larger three-bedrooms above that.
The price per metre works out to roughly $9,100 for a one-bedroom and $7,900 for a two-bedroom — a fifteen percent gap between formats that's worth noting: the larger unit is the better value by floor area.
A fitted kitchen, wardrobes and branded plumbing included as standard save several months and a meaningful amount of money after handover. In Dubai, apartments are often handed over without a kitchen at all.
Who the developer is
The building is by MGS Development, a private Dubai developer. The main contractor is Ancient Builders Construction, foundations were done by Delta Foundations, and the architectural consultant is Abdul Rahim Architectural Consultants.
Nakheel's role here is master developer of the islands: it is responsible for Dubai Islands infrastructure, not for delivering these buildings. Timing and build quality are down to MGS, so check its delivery record and site progress directly.
The island
Dubai Islands offers 21 kilometres of beaches, promenades, parks, golf courses, top-category hotels, shops and restaurants. A yacht club and marina are planned nearby.
The architecture was designed by the American studio AYENK. The podium has infinity pools, lounge areas, landscaping and children's play areas.
Sales phases and launch pricing
The project came to market in phases. Phase one launched in June 2024 at roughly AED 1.1 million (about $299,000), around AED 2,000 per square foot — well below the Dubai Islands average at the time. The plan was 10% on booking, 50% during construction and 40% on handover, with phase one due in Q3 2026.
The developer opened phase two in September 2024 at higher prices: by November 2024 units started from about AED 1.8 million. In total the project has five mid-rise buildings — one in each of the first two phases and three in the third.
The buildings sit on Island A, between the mall and the planned resort hotels, three to five minutes' walk from the beach.
Seller's materials at sales launch: floor areas, prices, specification and community composition. Price per metre is our own calculation. Phases, launch prices, payment plan and phase-one handover — sales announcements, June–November 2024; developer and building count — MGS Development public materials.
Where it is
Lots in this project — 1
Handover payment
A mortgage covers the final instalment
The final payment on this building falls in 2026 — under off-plan plans that is 40–60% of the price in one go. A UAE bank closes it: the flat becomes the security, and nothing is added on top of what the developer has already been paid.
- Up to 80% of the appraised value, no extra down payment
- 3.99% fixed for three years, up to 25 years in term
- 6–12 months before the keys — the bank wants six months of income history
Already been invoiced, or missed the date? That is not a dead end either — write and we will look at what the developer will accept.
Ask on WhatsAppFrequently asked about Edgewater Residences
Who is the developer of Edgewater Residences?
MGS Development. The architecture is by Abdul Rahim Architectural Consultants.
How many floors does Edgewater Residences have?
15.
When is Edgewater Residences handed over?
The project is under construction. I check the exact date for a particular unit in the contract before the deal.
Where is Edgewater Residences?
Dubai Islands. The reclaimed islands off Deira, formerly Deira Islands: beaches, hotels and new residential on the northern coast.
How much does an apartment in Edgewater Residences cost?
The database currently holds 1 lot in this project, from 2 199 000 AED; 1 of them priced below the market, the deepest discount 8%. The list changes daily — I will send a fresh selection for the building on request.
In the news
What has been written about the building, its developer and Dubai Islands
Dubai Islands to Bur Dubai bridge: 1.4 km, eight lanes and a late-2026 opening
A 1 425 m bridge across Dubai Creek will link Dubai Islands directly to Bur Dubai: four lanes each way, 16 000 vehicles an hour, 18.5 m above the water. The AED 786m contract targets completion by the end of 2026. What the bridge changes for the islands and the old city.
Dubai Islands: JW Marriott Residences by CG Developers, and Nakheel's AED 527m infrastructure contract
CG Developers is building Dubai's first JW Marriott residence, priced from AED 1.72 million with a Q1 2028 handover. In parallel, Nakheel has awarded a AED 527 million contract for Island B's core infrastructure — roads, water and sewage for a future 49 000 homes.
Dubai Islands: the last waterfront land, from about $5 200 a square metre
A chain of reclaimed islands under a single government master plan. Almost no coastal land with direct beach access is left inside the emirate — and one or two new projects launch here every month. The opportunity and the risk are the same fact.
Flora Isle Real Estate Development: paying for Dubai property from abroad
A developer building on the Dubai Islands. The dirham’s peg to the dollar shapes the currency risk for every foreign buyer — and the transfer mechanics have costs of their own.
Mr. Eight Development: an off-plan villa on an island still being made
A developer building villas on the Dubai Islands. A house bought off-plan on new land combines two kinds of waiting, and they resolve on different timetables.
Metac Properties: what “beachfront” means on a reclaimed island
A developer with two projects on the Dubai Islands. Beach access is sold as a feature and defined as a legal arrangement — and the two are not always the same thing.
Imtiaz Developments: how to assess a developer that scaled fast
A mid-market company that went from a handful of projects to a large pipeline in a few years. What rapid growth does to risk, and the specific evidence that separates a good scaler from a stretched one.
Nakheel: the master developer of the islands, and what that title means
The state developer behind Palm Jumeirah and the Dubai Islands. The difference between a master developer and a building developer, and why it matters for what you own.
Where this project stands today
I will tell you which layouts are available now, what entry really costs and what the people who live in or let the building think of it — no marketing language.
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