Edgewater Residences III
AED 2.2M ≈ USD 599,047
Edgewater Residences III is MGS’s project on Central Island. 328 units across G + 2P + 12.
Prices start at AED 2.2M. At AED 3,410 per sq.ft it is about 36% above the 2,514 archipelago average, so it needs to be earning that premium on view, finish or brand. Units run 645 to 4,826 sq.ft.
The payment plan is 60/40. Handover is dated Q4 2026. That is early for this island, which means you are letting into a market with very little competing supply and very little evidence of what rents actually clear.
Amenities: Swimming Pools: Take a refreshing dip in the well-kept swimming pools, Fitness Centers: Stay fit, Active with our fully equipped fitness centers, Recreational Areas: There are several recreational areas for socializing, Relaxing and retail outlets: easy access to retail outlets for daily necessities. Beach access is direct.
Registered with the Dubai Land Department under project number 3177. Payments go to the project escrow account, Abu Dhabi Commercial Bank – 13038714920008. Nothing should be paid anywhere else.
Location. Edgewater Residences III is on Central Island, off the Deira coastline in northern Dubai. Twenty minutes to Dubai International, twenty-five to Downtown and DIFC, five to the Gold Souk and the Deira waterfront. Access today is over the Infinity Bridge, and it is the only way on and off until the dedicated island bridges land, which are contracted for 2027 to 2029. Central Island carries the mall, the marinas and most of the residential stock, which is why resale here is deeper than anywhere else on the archipelago.
What the numbers actually say. Budget roughly 6 to 7% on top of the price to complete: 4% DLD, around AED 10,200 trustee and admin, the first-year service charge payable at handover, and snagging. On the entry unit here that is close to AED 2.33M of cash to own it outright. On my own underwriting the entry one-bed on this island returns about 3.7% net long-let, after a AED 24 per sq.ft service charge, six weeks vacancy, 2% agency and 5% management. Not the 11 to 13% being advertised, which is gross short-let at full occupancy on stock that is almost entirely unlet.
Amenities
- Swimming Pools: Take a refreshing dip in the well-kept swimming pools.
- Fitness Centers: Stay fit and active with our fully equipped fitness centers.
- Recreational Areas: There are several recreational areas for socializing and relaxing.
- Retail Outlets: Easy access to retail outlets for daily necessities.
- Dining Options: A wide range of dining options to suit different tastes and preferences.
- Parks and Green Spaces: Beautifully landscaped parks and green areas for leisure and recreation.
Floor plans
See the layouts
2 layouts on file. Tell me where to send them and they open right here, no download needed.
Location
Nakhlat Deira - Dubai Islands - Dubai - United Arab Emirates
Service charge
AED 22–26 per sq.ft, my estimate. Most buildings here have not published theirs.
Buying on Dubai Islands
The general rules that apply to any off-plan purchase on the islands. The specifics for this project are above.
Ownership, tax and visa
Dubai Islands is a designated freehold zone, so a foreign buyer owns the property outright with no local partner and no lease. There is no annual property tax in the UAE, no capital gains tax and no tax on rental income. The 4% Dubai Land Department transfer fee plus AED 4,200 admin is paid once, at registration. At this price the purchase clears the AED 2M threshold for the 10-year Golden Visa, measured on the registered value.
How you buy off-plan here
A reservation form and a deposit of typically 5 to 10% holds the unit, paid to the developer. The Sales and Purchase Agreement follows within 14 to 30 days and sets the payment plan and the delay clause, which is the paragraph worth reading twice. DLD takes 4% and registers you on the Oqood off-plan register. Instalments then follow construction milestones into the escrow account, and the Oqood converts to a full title deed at handover.
Questions about Edgewater Residences III
How much does Edgewater Residences III cost?
Prices start at AED 2.2M, which works out at about AED 3,410 per sq.ft. Add roughly 6 to 7% on top for DLD, trustee, first-year service charge and snagging.
When is Edgewater Residences III handing over?
The developer's date is Q4 2026.
What is the payment plan at Edgewater Residences III?
60/40. Compare the total price rather than the schedule: a generous plan is usually paid for in the headline number.
Can a foreigner buy at Edgewater Residences III?
Yes. Dubai Islands is a designated freehold zone, so foreign buyers own outright with no local partner. You do not need to be resident, and the SPA can be signed remotely.
What unit types are available at Edgewater Residences III?
1 to 4 bedrooms, from 645 to 4,826 sq.ft.
Is Edgewater Residences III registered with the DLD?
Yes, under project number 3177. Payments go to the escrow account at Abu Dhabi Commercial Bank - 13038714920008.
What rental yield can I expect at Edgewater Residences III?
About 3.7% net long-let on my numbers for the entry one-bed on this island, after service charge, vacancy, agency and management. One residential project on the whole archipelago has been delivered and let, so treat every yield figure here as a projection, including mine.
About the developer
This is one launch. To weigh it, see more off-plan homes across Dubai Islands, priced with a verdict on each.
