Mykonos Damac Lagoons Dubai

Mykonos is the Greek-island-themed cluster of 4 and 5 BHK townhouses at DAMAC Lagoons, the swimmable-lagoon community beside DAMAC Hills in Dubailand. Built-up areas run about 2,282 to 3,481 sq ft on plots of about 1,550 to 2,340 sq ft. The source listing shows it from AED 2.47 million, about Rs 6.36 crore at Rs 25.75 per dirham, which is about AED 1,082 per sq ft on the smallest 4 BHK. Other sources print AED 2.4 million and AED 2.94 million.

Two things to say plainly. Mykonos is the priciest townhouse per square foot in this batch, above Ibiza, Malta, Marbella and Monte Carlo, and in exchange every quoted price clears the AED 2 million Golden Visa threshold. And the estimated handover was December 2025, which has passed with no confirmation from any source we checked. One listing quotes AED 904,000 for a 4 BHK; that matches no size and no other source, and you should ignore it.

At a glance

Price and unit pricing

The AED 904,000 figure cannot describe a 2,282 sq ft house in this community at any benchmark and is almost certainly a data error; do not let it anchor your expectation. Of the three credible prices, all land between about AED 1,050 and AED 1,290 per sq ft. Community guides put Lagoons townhouses at AED 545 to 850 per sq ft on one reading and AED 1,150 to 1,750 on another, so Mykonos sits above the first and inside the second. It is the highest townhouse rate on this site, and about half of any apartment rate here.

Payment plan and total cost

The plan is 20% on booking, 40% in instalments during construction, 40% on handover. Past the estimated handover date, most of the construction share is already due.

Service charge guides for Lagoons range from AED 6 to 8 per sq ft to AED 14 to 18; on 2,282 sq ft that is AED 14,000 to 41,000 a year. Ask DAMAC for the cluster rate in writing.

Location and connectivity

DAMAC Lagoons sits beside DAMAC Hills in Dubailand, reached from Hessa Street and Sheikh Zayed bin Hamdan Al Nahyan Street. No metro; 25 to 30 minutes by car to most of Dubai off peak.

• DAMAC Hills, Trump International Golf Club: next door
• Dubai Sports City, Motor City: about 10 to 15 minutes
• Global Village, Dubai Autodrome: nearby
• Mall of the Emirates: about 25 minutes
• Al Maktoum International Airport: about 25 to 30 minutes

What it is like: a resort-themed master community around swimmable lagoons, with Santorini occupied and the other clusters handing over through 2026 and 2027.

Amenities and specifications

Each townhouse has a garden, a laundry and storage room, a covered parking area, a terrace, one or two balconies and a powder room. DAMAC gives Mykonos a Greek-island theme in white and blue. Appliances and flooring are not itemised, but the finished Santorini cluster next door uses the same Aegean styling and is occupied, so you can walk a delivered example before you commit. Final as per the SPA.

About the developer

DAMAC Properties, founded in 2002, has handed over 50,000 homes and has more than 54,000 under construction. It announced 8,800 unit deliveries in 2026 with DAMAC Lagoons the largest component, and Lagoons handovers began with Santorini in November 2025. DLD data shows an average 6 to 12 month delay on DAMAC projects delivered in 2023-24; the neighbouring Malta cluster slipped about a year. Mykonos's passed December 2025 estimate should be read the same way.

For overseas buyers

Any nationality. Dubai's designated freehold areas are open to buyers of every nationality, resident or not: no local partner, no residence visa needed in order to buy, and the Land Department issues the title deed in your own name. On the AED 2.47 million entry price the 4% Dubai Land Department transfer fee is about AED 98,800 (USD 26,900), and registration, trustee and agency charges take the all-in cost to roughly 6% to 7% over the price. UAE banks lend non-residents about 50% to 60% of the price, which is why the developer payment plan above carries most overseas purchases. The paragraphs below work the numbers for an Indian buyer, the largest single group buying in Dubai, but the ownership, visa and yield rules are the same whatever passport you hold.

Ownership. DAMAC Lagoons is freehold; an Oqood during construction and the DLD title deed, plot included, at handover.

Remitting. About AED 2.57 million all in is roughly USD 700,000, so a couple remits it across two financial years under the USD 250,000 per person per financial year LRS limit; the 20/40/40 plan spreads it. Tax collected at source applies above the annual threshold and is creditable in your Indian return.

Golden Visa. Every credible quoted price clears AED 2 million, which is the main reason to pay Mykonos's premium over the cheaper clusters.

Yield and tax. One 2026 guide puts Lagoons gross yields at 5.5 to 7%, delivered clusters at 6.5 to 8%, with ready units renting for AED 100,000 to 180,000 a year. On AED 2.47 million a 4 BHK needs about AED 148,000 for 6%, which is within the delivered range but not at its bottom. No UAE tax; in India the rent is income from house property with the 30% deduction, and the asset goes in Schedule FA.

Exit. The 2026-27 delivery wave means a resale in the first two years competes with thousands of similar homes, and Mykonos starts from a higher rate than its neighbours. Hold five years.

Pros

• Golden Visa at every quoted price
• Plot sizes published, unlike most clusters
• Larger top end at about 3,481 sq ft
• Santorini next door shows the same styling, delivered
• Most of the construction share behind at this stage

Cons

• Highest townhouse rate in this batch at about AED 1,082 per sq ft
• Three prices in circulation, plus one that is wrong
• December 2025 estimate passed unconfirmed
• Delivery wave across the community
• Car community, no metro

Who this is for

• Golden Visa buyers who want certainty from any unit in the cluster
• Families who want the larger end of the Lagoons range with a known plot
• Buyers who like the Aegean styling and can inspect it at Santorini

Who should look elsewhere

• Rate-focused buyers; compare Monte Carlo or Malta
• Buyers who want documented transactions; compare Marbella
• Anyone who needs keys now; see the finished Santorini

Our verdict

A Golden Visa house at a premium rate. AED 2.47 million (about Rs 6.36 crore) is about AED 1,082 per sq ft, the highest townhouse rate on this site, and what it buys is certainty on the visa threshold, a published plot and a larger top end. Settle which of the three prices applies, ignore the AED 904,000 anomaly, confirm the handover status, and if the rate matters more than the visa, look at the neighbouring clusters. See all Dubai projects we track and our full project list.

Run this project's numbers yourself. The calculator opens on the price and unit size above; change the currency, the rent or the mortgage and it recalculates the fees, the cash you need on day one and the net rent.

FAQs

What is the price of Mykonos at DAMAC Lagoons?

The source listing shows it from AED 2.47 million, about Rs 6.36 crore at Rs 25.75 per dirham. Other sources print AED 2.4 million and AED 2.94 million for 4 BHK townhouses. One listing quotes AED 904,000, which matches no size or other source and should be ignored. On a 2,282 sq ft 4 BHK the listed price is about AED 1,082 per sq ft.

What is the payment plan?

20% on booking, 40% during construction and 40% on handover, per the portals. Near or past the estimated handover most of the construction share is already due. The 4% DLD fee and the Oqood fee are extra.

When is the handover?

The estimated date was December 2025 and no source we checked confirms it happened. The neighbouring Malta cluster slipped about a year, so plan for late 2026 or 2027 and ask DAMAC for the current construction percentage.

How big are the townhouses?

Built-up areas of about 2,282 to 3,481 sq ft, with plots of about 1,550 to 2,340 sq ft. The mix is 4 and 5 BHK.

Does it qualify for the Golden Visa?

Yes at every credible quoted price. AED 2.4 million, AED 2.47 million and AED 2.94 million all clear the AED 2 million threshold.

What rental yield does DAMAC Lagoons give?

One 2026 guide puts gross yields at 5.5 to 7% across the community and 6.5 to 8% for delivered clusters, with ready units renting for AED 100,000 to 180,000 a year. On AED 2.47 million a 4 BHK needs about AED 148,000 for 6%.

What is the service charge?

Guides disagree: AED 6 to 8 per sq ft on one, AED 14 to 18 on another. On 2,282 sq ft that is AED 14,000 to 41,000 a year. Ask DAMAC for the cluster rate in writing.

Can a foreign national buy in DAMAC Lagoons?

Yes. It is freehold and the DLD issues the title deed in your name. About AED 2.57 million all in is roughly USD 700,000, so a couple remits it across two financial years under the USD 250,000 per person LRS (the Reserve Bank of India's Liberalised Remittance Scheme) limit; the 20/40/40 plan spreads it. Buyers of any other nationality can own on the same terms: Dubai's designated freehold areas are open to all nationalities, there is no residency requirement and no local partner, and the Land Department issues the title deed in your own name.

Ask Realty Hunting which Mykonos units remain and at what price, plus the current construction status; we will walk you through Santorini next door so you can see the finished version first.