Urgent Sale | 18.1% Below OP | 3 BR in Iluka Residences

Overview of the deal

This is a resale of a 3-bedroom apartment in Iluka Residences, built by MS Homes Development on Dubai Islands. The seller is asking AED 3,000,000. The original price plus the 4% DLD fee was AED 3,661,698, which puts the asking price AED 661,698, or 18.1%, below that original cost. Unlike new apartments for sale in Dubai bought from a developer, this is a resale: the buyer takes over the seller's position.

In Dubai real estate, urgent sales like this usually come from owners who want to sell within a shorter timeframe. Completion is recorded for December 2026 and handover is listed as Q4 2026. Among off-plan properties Dubai buyers can take over, one this close to completion has most of its build period behind it. All figures come from the seller; verify them at enquiry.

The unit

The apartment measures 1,535 sq ft and sits on a low floor, between levels 3 and 5. It faces the water and has a private swimming pool on the balcony.

• Bedrooms: 3

• Size: 1,535 sq ft

• Floor: levels 3 to 5

• View: water

• Outdoor space: balcony with a private pool

• Handover: Q4 2026

Next to a typical 3 bedroom apartment Dubai buyers compare, the balcony pool is the detail that stands out, and the size leaves room for a family or a home office.

The building and community

Iluka Residences is on Dubai Islands, one of the city's newer island communities. Like many off-plan projects Dubai developers deliver, it is still being built. The record lists no building amenities, so confirm shared facilities, parking and service charges with the developer and the seller.

The setting is the draw. Dubai Islands properties are planned around the water, and this unit's view and pool place it among the waterfront properties Dubai buyers often ask about.

Price, discount and payment position

The seller's figures, as supplied:

• Original price plus DLD 4%: AED 3,661,698

• Asking price: AED 3,000,000

• Discount: AED 661,698 (18.1%)

Payments due on transfer:

• Payment to the seller: AED 1,591,655

• DLD transfer fee (4% of the original price plus AED 40): AED 140,875

• Trustee office fee: AED 5,250

• Buyer's agency commission (2% plus VAT): AED 63,000

The total due on transfer is AED 1,800,780. The remaining payment plan Dubai buyers would take over was listed as AED 352,086 on 10 September 2026 and AED 1,056,259 on handover, AED 1,408,345 in all. That September date has passed, so ask whether the instalment was paid and how it changes the transfer amount. The owner puts the total cost for the buyer at AED 3,209,125.

Why this deal and for whom

The discount is measured against the original price including DLD, not a current valuation, so compare it with other properties for sale in Dubai in the same building. The deal suits:

• End users who want a three-bedroom home on Dubai Islands with handover close

• Buyers who prefer to pay part on transfer and the balance on handover

• Those who want to buy property in Dubai with a private pool

As a Dubai property investment, any return is uncertain; nothing here promises capital growth or rental income.

What happens next

Urgent sales can be reserved or withdrawn quickly.

• Contact Mahboob Estate to confirm availability and the asking price

• Review the seller's statement from MS Homes Development, including the September 2026 instalment

• Sign the sale agreement and obtain the developer's no-objection certificate

• Complete the transfer at the trustee office

As a real estate agency Dubai buyers can call directly, we check the status with the owner before you commit.

FAQ

Is the 18.1% discount guaranteed?

No. It is the seller's figure against the original price plus 4% DLD, and terms can change. Verify it at enquiry.

When is handover?

Handover is listed for Q4 2026, with completion recorded for December 2026. The developer sets the timeline, and it can move.

What does the buyer pay in total?

The seller's breakdown shows AED 3,209,125 in total, with AED 1,800,780 due on transfer. Confirm the September 2026 instalment first, as it affects that split.