The Waterway by Prestige One, Meydan
The Waterway by Prestige One is a waterfront apartment tower under construction in Meydan Horizon, part of Mohammed Bin Rashid City (MBR City), developed by Prestige One Developments. As of this guide, the project is still off-plan with no delivered units, targeted for handover in the second quarter of 2027. Royale Stays manages the setup, pricing and guest side of listing an apartment here for a fee starting from 15%, once handover completes.
Developer
Prestige One Developments
Configuration
G+3 podium + 18 residential floors (G+20)
Unit Types
1 and 2-bedroom apartments (597 to 1,120 sq ft)
Area
Meydan Horizon, MBR City
Handover
Targeted Q2 2027 (off-plan)
About The Waterway by Prestige One
The Waterway by Prestige One is a waterfront apartment tower being built in Meydan Horizon, part of Mohammed Bin Rashid City (MBR City), by Prestige One Developments. The building is designed as a ground floor plus three podium levels plus eighteen residential floors structure, summarized by the developer as G+20, sitting directly beside one of Meydan Horizon’s crystal lagoons. Handover is currently targeted for the second quarter of 2027.
Prestige One Developments also markets several other projects within the same Meydan Horizon masterplan under closely related names, including Sanctuary Residences by Prestige One, Sanctuary Hive by Prestige One and Parkway by Prestige One. The Waterway is a distinct, standalone building among these, not to be confused with its Meydan Horizon siblings. It is also unrelated to The Residence by Prestige One, a separate Prestige One project in Jumeirah Village Circle (JVC), a different Dubai community entirely.
Sources: prestigeone.ae (official developer project page), propjunction.ae, tanamiproperties.com, mydubaiproperties.ae. Cross-checked 2026-09-05.
Location & Nearby Landmarks
Per the developer, Business Bay is roughly 10 minutes away by car, Downtown Dubai and Burj Khalifa around 12 to 13 minutes, Dubai International Financial Centre (DIFC) about 14 to 15 minutes, and Dubai International Airport (DXB) roughly 18 to 20 minutes. The Ras Al Khor Wildlife Sanctuary sits about 10 minutes away by road (the developer states as close as 900 metres on foot). Dubai Marina and Palm Jumeirah are both roughly 20 to 25 minutes away.
For a wider view of the district, see Royale Stays’ MBR City area guide. For a nearby Meydan apartment development already under construction, see Azizi Gardens, Meydan and Claydon House.
Unit Types
The Waterway is marketed with 1 and 2-bedroom apartments ranging from about 597 to 1,120 sq ft, per the developer’s own current project page. Several broker portals additionally list a 4-bedroom penthouse tier of roughly 3,400 to 3,700 sq ft; the developer’s own overview and FAQ copy at the time of writing describes only the 1 and 2-bedroom range, so this guide flags the penthouse tier as broker-reported rather than confirmed on the primary source.
Amenities
Amenities planned for The Waterway include a swimming pool, Prestige One Fitness gym with a rock climbing wall, men’s and women’s changing rooms, a rooftop BBQ and lounge area, a rooftop sunset area, outdoor lounges with water features, and a grand entrance lobby with water features. Residents will have direct access to the development’s crystal lagoon setting.
Transportation & Access
No Metro station currently serves Meydan Horizon directly, so the area is car-dependent for now. The nearest existing station is Business Bay Metro Station on the Red Line. Road access runs via Ras Al Khor Road and Al Khail Road, connecting the site to Business Bay, Downtown Dubai and the wider Sheikh Zayed Road corridor.
Rental & Price Trends
Starting prices for The Waterway are quoted at AED 1.7 million by two independent broker portals; one older listing quotes AED 1.6 million, likely reflecting an earlier pricing tier. The payment plan is a standard 65/35 split: 20% on booking, 45% during construction, and 35% on handover.
As an off-plan project with no delivered units, no independent rental-trend data exists yet for The Waterway specifically. For a wider area-level comparison, 1-bedroom apartments in the wider Meydan/MBR City market have been running roughly AED 80,000 to 110,000 a year, per rental data already used across Royale Stays’ live Meydan building guides.
STR Income Potential
The Waterway is still under construction, targeted for handover in the second quarter of 2027. There are no delivered units, no current residents and no existing Airbnb or holiday-home listings to point to yet, so this section is deliberately written in prospective terms rather than as a current income claim.
Once handover completes, The Waterway will be a standard Dubai freehold apartment building, the kind of property Royale Stays already manages elsewhere across Dubai. Prestige One Developments is a private developer with no hotel-brand affiliation and no confirmed short-term-letting restriction, so a DTCM holiday-home permit should be obtainable in the ordinary way once units are handed over and owners look to let. Owners planning ahead of handover can reach Royale Stays for setup, furnishing, photography, pricing, guest communications and maintenance, managed from 15%.
Questions