# Luxury Canal Residences

URL: https://www.dxbrealtor.ai/projects/luxury-canal-residences/
Developer: Prestige One Developments
Area: Dubai Islands
Home types: 1, 2 and 3 bedroom apartments and penthouses
Updated: 2026-10-11

Prestige One's 73 home canal-front building on Dubai Islands. Handover and completion date, 17.71% DLD progress, 2026 prices and the 20/45/35 payment plan.

## Key facts

- Developer handover date: Q1 2028 (Prestige One, accessed 11 Oct 2026)
- Registered completion date: 30 Nov 2027 (DLD project register via Continental Club)
- Construction progress: 17.71% (DLD inspection, 30 Jun 2026)
- Median 2 bedroom DLD sale: AED 2,525,116 (25 sales to May 2026 (Continental Club))

## When will Luxury Canal Residences be handed over?

Prestige One's project page gives Q1 2028 for Luxury Canal Residences. The DLD register, under the developer entity Prestige Harbour Real Estate Development L.L.C, holds a registered completion date of 30 November 2027, and Prestige One's own construction update page also shows November 2027. The register lists the area as Palm Deira.

Data Habibi records the original delivery promise as Q4 2027 and the current target as Q1 2028, a three month postponement. Listings in May 2025 already showed Q1 2028 (Kotook).

Building-by-building dates and how the date has changed: [Luxury Canal Residences handover date](/answers/luxury-canal-residences-handover-date/).

## Luxury Canal Residences construction update

Prestige One broke ground in May 2025, alongside its Coastal Haven project on Dubai Islands (Prestige One, 29 May 2025). The DLD register gives 1 July 2025 as the start date. Inspections recorded 9.54% on 23 March 2026 and 17.71% on 30 June 2026, a gain of 8.17 points in about three months (Continental Club, registry updated 7 September 2026).

From 17.71% at the end of June 2026, finishing by 30 November 2027 would need about 4.8 points a month over 17 months, roughly twice the pace between March and June.

## Luxury Canal Residences homes and sizes

The building is a ground floor, two podium levels, 12 residential floors and a roof. Prestige One lists 73 homes: 30 one bedroom, 32 two bedroom, nine three bedroom and two penthouses. Data Habibi gives 79 apartments, which does not match the DLD count of 73.

| Home type | Units | Size |
|---|---|---|
| 1 bedroom | 30 | 809 to 830 sq ft |
| 2 bedroom | 32 | 1,200 to 1,244 sq ft |
| 3 bedroom | 9 | About 2,007 sq ft |
| Penthouse | 2 | Up to about 4,430 sq ft |

Unit counts are from Prestige One. Sizes are from floor plans published by Continental Club, JRE Dubai and Ezre, accessed October 2026.

## Luxury Canal Residences prices and resale

DLD recorded 59 sales up to May 2026, about 7% of them resales (Continental Club):

| Home type | Median size | Median price | Sales |
|---|---|---|---|
| 1 bedroom | 75 sq m (about 807 sq ft) | AED 1,696,800 | 30 |
| 2 bedroom | 116 sq m (about 1,249 sq ft) | AED 2,525,116 | 25 |

The median across all sales was AED 22,558 per sq m, about AED 2,096 per sq ft, 5% lower than in the previous 12 months while Dubai Islands rose 5%. The latest recorded sale was a 2 bedroom of 1,244 sq ft for AED 2,988,000 on 7 May 2026 (Mitchells). Listings in May 2025 started at AED 2.0 million (Kotook). Broker listings in late 2026 show 2 bedrooms from AED 2,691,000 (Impala, 23 September 2026) and AED 2,792,000, and a 3 bedroom at AED 4,616,000 (JRE Dubai).

## Luxury Canal Residences payment plan

The plan is 20% on booking, 45% during construction and 35% on handover (Continental Club and Impala Real Estate). Prestige One describes it as 65% before handover and 35% upon handover. A May 2025 listing broke the construction share into instalments of 5% to 10% every 90 days (Kotook). On the median 2 bedroom sale, the handover payment is about AED 884,000. Brokers quote a service charge of AED 16 to AED 18 per sq ft a year from handover, an estimate until a RERA budget is set.

## Luxury Canal Residences developer and delivery record

Prestige One Developments handed over The Residence in JVC in late March 2026 and Vista in Dubai Sports City in April 2026 (Gulf News, 16 April 2026). Its other Dubai Islands building on this site is [Seaside by Prestige One](/projects/seaside-by-prestige-one/), and it is also building [Golf Residences by Prestige One](/projects/golf-residences-by-prestige-one/) in Dubai Sports City.

## What to check before buying at Luxury Canal Residences

1. **Which date the SPA uses.** The register holds 30 November 2027 and the developer markets Q1 2028.
2. **The next DLD inspection**, to see whether the pace rises toward the 4.8 points a month the registered date needs.
3. **The resale price against recent DLD sales.** Prices per sq ft fell 5% over the past year on registered sales, while listings ask more.

## Sources

- DLD project register via Continental Club, Luxury Canal Residences (inspection 30 Jun 2026), registry updated 7 Sep 2026: https://continentalclub.ae/project/luxury-canal-residences-dubai-islands/
- DLD project register via Continental Club, projects handing over in 2027, accessed 11 Oct 2026: https://continentalclub.ae/handover-2027/
- Prestige One Developments, Luxury Canal Residences project page, accessed 11 Oct 2026: https://prestigeone.ae/projects/luxury-canal-residences-by-prestige-one
- Prestige One Developments, Luxury Canal Residences construction update, accessed 11 Oct 2026: https://prestigeone.ae/construction-update-luxury-canal-residences-by-prestige-harbour
- Prestige One Developments, breaking ground on two developments in Dubai Islands, 29 May 2025: https://prestigeone.ae/prestige-one-breaking-ground-on-two-exceptional-developments-in-dubai-islands/
- Mitchells, Luxury Canal Residences DLD registry and sales, extract of 29 Sep 2026: https://www.mitchellscommercialrealty.com/off-plan/luxury-canal-residences
- Data Habibi, Luxury Canal Residences, accessed 11 Oct 2026: https://datahabibi.ae/dubai/new-projects/luxury-canal-residences
- Impala Real Estate, Luxury Canal Residences, checked 23 Sep 2026: https://impalarealestate.com/projects/luxury-canal-residences/
- JRE Dubai, Luxury Canal Residences, accessed 11 Oct 2026: https://jre.ae/projects/luxury-canal-residences
- Ezre, Luxury Canal Residences, accessed 11 Oct 2026: https://ezre.ae/projects/luxury-canal-residences
- Kotook, Luxury Canal Residences by Prestige One, 19 May 2025: https://kotook.ae/properties/detail/luxury-canal-residences-prestige-one-dubai-islands
- Gulf News, Prestige One Developments hands over two key projects, 16 Apr 2026: https://gulfnews.com/business/property/prestige-one-developments-hands-over-two-key-projects-and-awards-contracts-worth-dh500m-1.500508947