About MS Homes Developers

Two people sit at the top of MS Homes Developers, and they are father and son in the same business family.

Mohsin Sheikhani is the founder. His public record is unusually well documented for a developer this new to Dubai. He served five terms as Chairman of the Association of Builders and Developers (ABAD) in Pakistan across the past decade and sat on the board of the Naya Pakistan Housing & Development Authority (NAPHDA), the state body set up for housing policy. That is an industry association and policy background, not a Dubai delivery background.

Murtaza Sheikhani is the CEO. The company describes his training as economics and finance, with responsibility for financial management and strategic planning.

MS Homes Developers presents itself as an affiliate of Memon Group, which the company dates to 1978. This matters when you read the marketing: the credentials belong to a Pakistani construction group, and MS Homes Developers is the Dubai-facing arm of it.

Here is the direct answer, with the company's own claims and the independently checkable facts kept apart.

What the company states about itself (its About page and launch releases):

• 40 years in the market
• 25 million sq ft completed
• 20,000+ residential units delivered
• Operations across the UAE, Pakistan, the UK and the USA
• Over US$1 billion in cumulative sales
• A Dubai pipeline of over 1 million sq ft planned by 2027

What is independently confirmable in Dubai: one project, under construction, nothing handed over yet.

That gap is the honest summary. The 20,000 units and 25 million sq ft were built in Pakistan, not the UAE, and no Dubai buyer has yet taken keys from MS Homes Developers. A group with four decades of construction behind it is a meaningfully different risk profile from a shell developer with no history, but it is not the same as a Dubai delivery record.

One inconsistency to note: the company's own About page dates the parent Memon Group to 1978, while its launch press releases say "since its inception in 1983 in Pakistan." Both appear in official material. Neither figure is independently verifiable from public UAE records.

Lists of MS Homes Developers projects circulating online are often padded. There are two projects, in two countries, and only one of them is in Dubai.

1. Iluka Residences, Dubai Islands (UAE)

Located on Marina Boulevard, Dubai Islands, Iluka Residences is under construction and comprises 57 apartments ranging from one to four bedrooms. The project is freehold, with completion listed by the developer as Q4 2026. This is the entire Dubai portfolio of MS Homes Developers.

2. Vihaara, Gandhara City and Mumtaz City (Pakistan)

Vihaara is a gated affordable-housing community near Islamabad, priced in Pakistani rupees. It offers studios of 364 sq ft, one-bedroom apartments of 443 sq ft and two-bedroom apartments of 560 sq ft. Units are sold on a 36-month instalment plan with balloting and a bank-finance option.

The project appears in the MS Homes Developers menu, which is why it can turn up in Dubai searches, but it is not a UAE product and cannot be purchased as a Dubai asset.

Dubai Portfolio Status

• Completed in Dubai: None.
• Announced but unlaunched in Dubai: The company has referenced a pipeline of more than 1 million sq ft by 2027 without naming a second Dubai project, publishing a plot or opening sales.

Unit sizes as published by MS Homes Developers on its own project page:

These are generous by Dubai apartment standards. A 1,112 sq ft two-bed and a 1,526 sq ft three-bed sit above what most Dubai Islands competitors offer at the same bedroom count, which is the strongest single argument for the project.

• Miele kitchen appliances
• Gessi Italian sanitary fittings in bathrooms
• Italian tile flooring and marble finishes
• Smart home system in every apartment
• A private pool attached to apartments
• Floor-to-ceiling windows and private balconies

The building amenities listed include:

• Infinity pool
• Sky lounge
• Clubhouse with cinema, pool table and foosball
• Fitness studio
• Sauna and steam room
• Urban forest
• BBQ area
• Kids' play area
• Splash pads
• Gaming zone
• Yoga space

The building is configured as a ground floor, two podium parking levels and residential floors.

The master developer for the wider community is Nakheel. The architectural consultant on record for Iluka is Arec Engineering Consult.

Unit sizes as published by MS Homes Developers on its own project page:

These are generous by Dubai apartment standards. A 1,112 sq ft two-bed and a 1,526 sq ft three-bed sit above what most Dubai Islands competitors offer at the same bedroom count, which is the strongest single argument for the project.

Specification points published by MS Homes Developers:

• Miele kitchen appliances
• Gessi Italian sanitary fittings in bathrooms
• Italian tile flooring and marble finishes
• Smart home system in every apartment
• A private pool attached to apartments
• Floor-to-ceiling windows and private balconies

Building amenities listed: infinity pool, sky lounge, clubhouse with cinema, pool table and foosball, fitness studio, sauna and steam room, urban forest, BBQ area, kids' play area, splash pads, gaming zone and yoga space. The building is configured as ground floor plus two podium parking levels plus residential floors.

The master developer for the wider community is Nakheel. The architectural consultant on record for Iluka is Arec Engineering Consult.

This is the payment schedule published by MS Homes Developers on the Iluka project page:

In shorthand that is 20 / 40 / 40. Note that Property Finder's project card describes the same plan as "20/60/20", and at least one broker page describes a 10% booking fee with eight quarterly instalments. Neither matches the developer's own published schedule. Take the numbers above, and take the binding version from your SPA.

Two points buyers consistently miss. The 4% DLD registration fee sits outside this table and is paid at purchase. And the instalments here are time-linked, not construction-linked: they fall due at 3, 6, 9, 12, 15, 18 and 21 months regardless of what stage the building has reached. That is a real difference from a construction-linked plan, where a stalled site pauses your payments.

The timeline runs as follows.

• July 2024 launch: handover announced for Q3 2026
• September 2024 groundbreaking: completion reiterated as Q3 2026
• Now, on the developer's own construction page: completion stated as Q4 2026

Property Finder, Bayut listings and most aggregators still carry Q3 2026 because they copied the launch release and never refreshed. The developer's own page is the more current statement, and it shows a quarter of slippage.

For a buyer, one quarter is not alarming on a Dubai off-plan project. What matters is that your SPA carries a completion date and a delay clause and that the date in your SPA is the one you plan around, not a date published anywhere else.

MS Homes Developers publishes a stage-by-stage progress breakdown, which is more transparency than most developers of this size offer. As shown on that page:

• Design: complete
• Piling: complete
• Foundation: complete
• Structure: around 90%
• MEP (mechanical, electrical, plumbing): around 27%
• Finishing: under way

Structure nearly topped out with MEP still in the twenties, which is a normal shape for a building targeting the end of 2026, though MEP and finishing are the stages where off-plan projects usually lose time. Property Finder separately shows a much lower construction-progress figure on its project card; that number lags and should not be read as current.
Before you rely on any of this, pull the officially recorded completion percentage from the Dubai REST app. That figure comes from DLD's appointed engineer and is the only version that carries weight.

Launch pricing: MS Homes Developers opened Iluka around AED 1.7M, with three-bedroom units launched from AED 3,880,704.
Current asking prices on Property Finder listings for the project:

Recorded averages across the past 12 months of Property Finder data for Iluka Residences:

• Average price: AED 2,918,300, up 2.29% year on year
• Average price per sq ft: AED 2,356, up 0.7% year on year
• Sales value in the project: AED 49.6M, up 58.1%
• Sales volume: 17 transactions, up 54.5%
• By bedroom: 1-bed averaging AED 2,054,959, 2-bed AED 2,604,552, 3-bed AED 3,676,702

The per-square-foot comparison is the number that matters most. Iluka is transacting around AED 2,356 per sq ft while Dubai Islands as a whole averages closer to AED 3,100 per sq ft. MS Homes Developers is priced below its own island. Whether that reads as value or as a market discount for an unproven developer is the judgement each buyer has to make, and both readings are defensible.

Availability is not tight. Bayut carries around 45 to 60 listings inside a 57-unit building, which means a large share of the project is being marketed at once, including resale.

The location does more work here than the developer brand does, so the community numbers matter as much as the project ones.
Dubai Islands is a five-island Nakheel waterfront master development off Deira. Over the past 12 months:

• 3,242 off-plan sales transactions recorded by DLD, averaging AED 3,449,556
• Off-plan prices up around 14% on DLD transactional records
• Total sales value across the community of roughly AED 16.5 billion, up around 87%
• Around 4,893 sales transactions in total, up around 61%
• Average price per sq ft around AED 3,100, up around 16%

That is one of the fastest-moving submarkets in Dubai right now. It also carries the standard consequence of that: heavy competing supply. Bayut lists thousands of off-plan units across Dubai Islands, with Rixos, Azura, Bay Residences, Hatimi, Cotier House, Allegro, Beach Walk, and others all delivering into overlapping windows. A Q4 2026 handover from MS Homes Developers lands alongside several of them.

Connectivity, as published by MS Homes Developers: 7 minutes to the Gold Souk, 10 minutes to Jumeirah and Downtown Dubai, 15 minutes to Dubai International Airport and the Burj Al Arab, and 20 minutes to DIFC. These are drive times.

The UAE Golden Visa property route currently uses a AED 2 million threshold for the renewable 10-year residence permit. On that basis, Iluka's two-, three- and four-bedroom units sit above it comfortably, and the entry-level one-bedrooms sit close to it.

Three qualifications that broker pages usually leave out:

1. The threshold is assessed on the DLD valuation, not the price on your invoice.
2. Rules for off-plan property differ from ready property, and eligibility is commonly tied to how much of the value has been paid and whether title is registered.
3. Requirements change. Confirm current criteria with the Dubai Land Department and GDRFA before buying on that basis.

Never let a Golden Visa pitch be the reason you sign. Buy the asset on the asset's merits.

• Space-focused buyers. The layouts are unusually large. If you have been frustrated by 1,000 sq ft "three-bedrooms" elsewhere in Dubai, a 1,526 sq ft three-bed is a real answer.
• Buyers who want a small building. Fifty-seven units means short lift waits, an amenity deck that is not permanently full, and a manageable owners' association.
• Waterfront buyers priced out of Palm Jumeirah or Marina. Dubai Islands offers coastline at a fraction of the established-waterfront rate.
• Finish-driven end-users. Miele appliances, Gessi fittings and a private pool per apartment are specification-led, not marketing-led, and they are checkable at handover.
• Buyers who want visible progress before committing. MS Homes Developers publishes stage-level construction data, and the building is structurally near complete, so you can inspect the reality rather than an artist's render.
• Buyers who want a short wait. Q4 2026 is close. Off-plan exposure here is measured in months, not years.

• Anyone who requires a UAE delivery record. MS Homes Developers has never handed over a building in Dubai. The Pakistani track record does not transfer as a guarantee.
• Buyers who need construction-linked payments. The instalments are date-driven. If the site slows, your payment schedule does not.
• Short-term flippers. With 45 to 60 listings in a 57-unit building and heavy competing Dubai Islands supply landing in the same window, exit competition is real and the resale pool is crowded.
• Yield-first investors at any cost. Dubai Islands is still maturing, retail and leisure are still opening, and early rental performance will be set by how much stock hands over at once.
• Buyers who need a mature neighbourhood on day one. Schools, supermarkets and daily-life infrastructure on the islands are still filling in.
• Anyone uncomfortable funding 40% at completion. That is a large final cheque on a short runway.

The payment plan is not the price. Budget these on top:

• 4% DLD transfer fee, plus roughly AED 4,000 in registration and admin
• Oqood registration for the off-plan interim registration
• Agency commission, typically 2% on a resale purchase
• NOC and developer transfer fees if you buy from an existing buyer rather than the developer
• Service charges. Dubai runs roughly AED 10 to 25 per sq ft annually. A private pool per unit, an infinity pool, a sky lounge, a cinema, a sauna and an urban forest across a 57-unit building means those costs are shared thinly. Ask MS Homes Developers for the projected service charge in AED per sq ft, in writing, before you sign.
• 5% Dubai Municipality housing fee on the rental value if you occupy
• Mortgage costs if you finance the 40% completion payment: arrangement fee, valuation, life cover

Run these five checks before money moves:

1. Dubai REST app or the DLD Real Estate Project Status service. Search Iluka. Confirm the project is registered, the developer is licensed, the escrow account exists, and note the officially recorded completion percentage.
2. Compare that percentage against the developer's construction page. A material gap is a question worth asking out loud.
3. Confirm every payment goes to the project escrow account. Never to a broker, never to a personal account, never to a company account that is not the named escrow.
4. Check the broker's RERA BRN on the DLD portal before signing anything.
5. Read the completion date and delay clause in the SPA. Portals say Q3 2026, the developer says Q4 2026, and only the SPA is enforceable.