Off-Plan 3-Bedroom Water-View Apartment with Private Balcony Pool at Iluka Residences, Dubai Islands — Below Market

Property Overview

This is an off-plan three-bedroom apartment at Iluka Residences by MS Homes on Marina Boulevard, Dubai Islands. Measuring 1,535 sq ft with a water view and a private pool on the balcony, it is offered as a below-market sale at AED 3,000,000, or about AED 1,954 per sq ft — AED 50,000 (about 1.6%) below the seller's stated original purchase price of AED 3,050,000. Handover is stated as Q4 2026.

Property Highlights

• Off-plan three-bedroom apartment at Iluka Residences, Dubai Islands
• 1,535 sq ft with a water view and a private balcony pool
• Priced AED 50,000 (about 1.6%) below the stated original purchase price
• MS Homes' debut Dubai Islands project, where every unit has a private pool
• Asking price of AED 3,000,000 (approximately AED 1,954 per sq ft); handover Q4 2026

Deal Classification and Pricing

This is a distress listing classified as Below Market by the operator. The only benchmark supplied is the seller's original purchase price of AED 3,050,000 (a seller figure, not a dated market comparable); against the AED 3,000,000 asking price this is a difference of AED 50,000, about 1.6%, which directly supports a 'Below OP' reading. To retain the Below Market label, a dated market comparable should be logged on DPF's evidence file; alternatively the listing can be reclassified as Below OP using the supplied original price. The agent notes the price has been reduced (motivated seller). Based on the size, the indicative rate is about AED 1,954 per sq ft.

Layout, View and Features

The brief describes a three-bedroom apartment of 1,535 sq ft with a water view and a private pool on the balcony, which is standard across Iluka Residences. Bathroom count, parking, floor and furnishing were not supplied and should be confirmed. To keep this listing accurate, no unit-specific details beyond those supplied and standard project features have been added.

About Iluka Residences, Dubai Islands and MS Homes

Iluka Residences (also marketed as Iluka by the Sea) is the debut Dubai project by MS Homes, an eight-floor building of 57 luxury one to four-bedroom apartments on Marina Boulevard, Dubai Islands. Its signature feature is a private pool on the balcony of every apartment, alongside marble finishes, smart-home technology and panoramic Gulf and marina views. The project offers 15 amenities including an infinity pool with a lounge deck, a beach club, a fitness studio with sauna and steam room, a yoga area, an urban forest, a cinema, a gaming zone, kids' play areas and splash pads, a sky lounge, co-working lounges, a library and Les Clefs d'Or concierge. Dubai Islands is a waterfront community off Deira, about 10 minutes from Dubai Marina area landmarks and 25 from Dubai International Airport. MS Homes' official handover schedule is Q3 2026.

Payment Plan and Handover

This is an off-plan resale, so the buyer takes over the seller's position subject to MS Homes' transfer process and the signed SPA. The project was offered on a 10% booking, 50% (eight quarterly instalments) during construction and 40% on handover plan; the amount paid to date, outstanding balance, transfer fees and exact handover for this unit should be confirmed. Handover is stated as Q4 2026 (official Q3 2026).

Location and Connectivity

Dubai Islands is a waterfront community off the coast of Deira, on Marina Boulevard, about 25 minutes from Dubai International Airport. Specific drive times were not supplied and are not stated here to avoid unverified claims; buyers should confirm distances to their own key destinations.

Verification Notes

• Agent-supplied facts: three-bedroom apartment, 1,535 sq ft, water view, private balcony pool, off-plan, AED 3,000,000 asking price, an AED 3,050,000 original purchase price and a Q4 2026 handover; price reduced.
• Deal classification: Below Market per the operator; the only benchmark supplied is the seller's original price (asking is ~1.6% below it, supporting Below OP). Log a market comparable to keep Below Market, or reclassify to Below OP.
• Calculated by DPF: an indicative AED 1,954 per sq ft; AED 50,000 (about 1.6%) below the stated original price.
• Taxonomy: structured community/area set to canonical 'Dubai Island'; real-world 'Dubai Islands' kept in prose.
• Researched project facts: developer (MS Homes), Iluka 3-bedroom sizes, private-pool feature, amenities and Q3 2026 handover were taken from MS Homes/market sources.
• The agent's "Price Reduced | Hot Lot | Water View | Private Pool on Balcony | Handover Q4 2026" statement is preserved as an attributed agent marketing claim.