Three-Bedroom Apartment at Iluka Residences, Dubai Island — Off-Plan Distress Resale

Property Overview

This is a three-bedroom apartment at Iluka Residences by MS Homes, Dubai Island, with a water view and a pool on the balcony. The 1,535 sqft unit is offered at AED 3,000,000, reduced from a previous asking price of AED 3,050,000. It is an off-plan resale with handover stated for Q4 2026, submitted as a keenly priced (‘hot lot’) resale.

Property Highlights

• Type: 3-bedroom apartment
• Size: 1,535 sqft
• Asking price: AED 3,000,000 (reduced from AED 3,050,000, agent-stated)
• Rate: AED 1,954 per sqft
• View: water view (agent-stated)
• Feature: pool on balcony (agent-stated)
• Handover: Q4 2026 (agent-stated)
• Developer: MS Homes Developers
• Community: Dubai Island

Deal Basis

This listing is submitted as a price-reduced resale, down from a previous asking price of AED 3,050,000 to AED 3,000,000. No original purchase price, dated market comparison or DLD transaction was supplied, so DPF has not calculated a savings amount or discount percentage against a benchmark and does not state one; the AED 50,000 reduction is a change from a prior asking price, not a measured discount versus original cost or market value. At AED 3,000,000 for 1,535 sqft, the asking price is AED 1,954 per square foot.

About the Project, Developer and Community

Iluka Residences is an off-plan development by MS Homes Developers on Dubai Island, Nakheel's island community off Deira with beaches, marinas and parks. As an off-plan project, it is under construction toward its stated handover. Project specifications and the exact completion date should be confirmed against the developer's official documentation.

Layout and View

The agent describes a 1,535 sqft three-bedroom with a water view and a pool on the balcony. Exact floor level, layout, bathrooms, parking and orientation should be confirmed on the floor plan and in the Sale and Purchase Agreement.

Verification Notes

• Agent-supplied facts: 3-bedroom type, size (1,535 sqft), asking price (AED 3,000,000, reduced from AED 3,050,000), water view, pool on balcony, and Q4 2026 handover.
• DPF-calculated figure: price per square foot (AED 1,954).
• No benchmark supplied: no original purchase price, dated market comparison or DLD transaction. The AED 50,000 reduction is from a prior asking price, not a measured discount, so no savings percentage is stated. Off-plan property offered as a keen resale — classified 'Off-Plan Distress'.
• Taxonomy: the community is recorded as 'Dubai Island' (singular), the canonical CMS spelling, although external sources often use 'Dubai Islands' (plural).
• External project research: Iluka Residences is confirmed as an off-plan MS Homes development on Dubai Island; unit-specific facts were not independently verified. 'Hot lot' is agent marketing.