MGS Development

MGS has four buildings on Central Island: three in the Edgewater Residences line plus Miami Beach Residences, which is already sold out. They are a newer developer without a completed tower on the islands to point to, so as with most of the newer names here, the case rests on the specific building, the price and the terms rather than a track record.

The pricing is unusually spread out for a single developer, which is the most interesting thing about them. Miami Beach Residences sold out at just AED 1,340 per sq.ft, which is the cheapest number on the entire archipelago and well below the island median of AED 2,445. The original Edgewater Residences is also value at AED 2,010. But Edgewater Residences III jumps to AED 3,410, a top-quartile price. So the MGS badge tells you almost nothing about value; you have to price each building on its own. The sold-out Miami Beach number is a reminder that the cheapest stock on Dubai Islands does get bought quickly when it appears.

Entry prices run from about AED 1.5M on Edgewater and Miami Beach up to AED 2.2M on the newer Edgewater buildings. Unit counts vary a lot, from 79 in the first Edgewater to 328 in Edgewater III, so you are choosing between a small building and a much larger one depending on which you pick. Payment plans are mixed: 35/65 on the original Edgewater, which defers an unusually large share to handover, 40/60 on Edgewater II and 60/40 on Edgewater III. The 35/65 plan is genuinely soft for a buyer who wants to hold.

Handovers are near-term. Miami Beach was dated Q1 2025, the original Edgewater Q3 2026, and Edgewater II and III Q4 2026. Near-term handover is a double-edged thing with a newer developer: it is sooner to your keys, but it also means less time for the developer to run into trouble, which on balance I read as a positive here.

The bottom line on MGS. There is real value at the bottom of their range, the original Edgewater and the sold-out Miami Beach, and a full price at the top with Edgewater III. Buy the specific building on its own number against the AED 2,445 median, take the soft 35/65 plan seriously if capital timing matters to you, and treat the near-term handovers as the plus they are while still keeping a cushion for a first-time-at-this-scale developer.

Edgewater Residences is priced from AED 1.5M at AED 2,010 per sq.ft. That is 18% below the Dubai Islands apartment median of AED 2,445, a gap of AED 435 per foot, which puts it in the cheapest quarter of island pricing. On its 35/65 payment plan, that entry price splits into about AED 525K committed across construction and AED 975K due at handover. Budget roughly another 6 to 7 per cent to complete, around AED 98K: the 4 per cent Dubai Land Department fee, trustee and admin, the first year of service charge and snagging. A completed unit at this price qualifies the owner for the 2-year investor visa; the 10-year Golden Visa needs AED 2M registered, which this entry does not reach. Handover is dated Q3 2026, the building holds 79 units, sized 747 to 2,185 sq.ft, currently selling. View the full listing →

Miami Beach Residences is priced from AED 1.5M at AED 1,340 per sq.ft. That is 45% below the Dubai Islands apartment median of AED 2,445, a gap of AED 1,105 per foot, which puts it in the cheapest quarter of island pricing. Budget roughly another 6 to 7 per cent to complete, around AED 98K: the 4 per cent Dubai Land Department fee, trustee and admin, the first year of service charge and snagging. A completed unit at this price qualifies the owner for the 2-year investor visa; the 10-year Golden Visa needs AED 2M registered, which this entry does not reach. Handover is dated Q1 2025, sized 1,119 to 6,448 sq.ft, currently sold out. View the full listing →

Edgewater Residences II is priced from AED 2.2M at AED 2,510 per sq.ft. That is 3% above the Dubai Islands apartment median of AED 2,445, a gap of AED 65 per foot, which puts it in the upper half of island pricing. On its 40/60 payment plan, that entry price splits into about AED 880K committed across construction and AED 1.32M due at handover. Budget roughly another 6 to 7 per cent to complete, around AED 143K: the 4 per cent Dubai Land Department fee, trustee and admin, the first year of service charge and snagging. At this price the registered value clears the AED 2M threshold for the 10-year Golden Visa. Handover is dated Q4 2026, the building holds 97 units, sized 876 to 2,323 sq.ft, currently selling. View the full listing →

Edgewater Residences III is priced from AED 2.2M at AED 3,410 per sq.ft. That is 39% above the Dubai Islands apartment median of AED 2,445, a gap of AED 965 per foot, which puts it in the top quarter of island pricing. On its 60/40 payment plan, that entry price splits into about AED 1.32M committed across construction and AED 880K due at handover. Budget roughly another 6 to 7 per cent to complete, around AED 143K: the 4 per cent Dubai Land Department fee, trustee and admin, the first year of service charge and snagging. At this price the registered value clears the AED 2M threshold for the 10-year Golden Visa. Handover is dated Q4 2026, the building holds 328 units, sized 645 to 4,826 sq.ft, currently selling. View the full listing →