This is a four-bedroom townhouse in Mykonos, the DAMAC cluster within DAMAC Lagoons. The plot measures 1,548 sq.ft with a built-up area of 2,282 sq.ft over ground plus one floor, with a balcony and private parking. The asking price is AED 2,500,000 against an original price plus DLD of AED 2,571,960, a reduction of AED 71,960 or 2.8% below original price. On the built-up area of 2,282 sq.ft that is AED 1,096 per square foot. The buyer settles AED 2,090,000 at transfer, of which AED 1,932,210 goes to the seller, and takes on AED 567,790 across three further instalments tied to construction milestones and handover, for a total cost of AED 2,657,790. Handover is scheduled for March 2027.
Available
MYKONOS · DAMAC Lagoons1 / 2
MYKONOS · DAMAC Lagoons1 / 2DAMAC · DAMAC Lagoons
DISTRESS DEAL: 4-BR IN MYKONOS
Asking priceAED 2,500,000AED 1,096 per sq.ft
Original price + DLDAED 2,571,960
DiscountAED 71,9602.8% below original price
- Unit
- 4-BR
- Size
- 2,282 sq.ft
- Developer
- DAMAC
The discount is measured against the original price + DLD recorded for this unit, not against a valuation.
Available
Listed 17 September 2026Status confirmed 17 September 2026
Available when we last checked on 17 September 2026. The asking price shown is the one published when the listing was added on 17 September 2026, 0 days before that check, and it is not re-checked against the market automatically. Confirm availability and price with us before you act on it.
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The numbers
Payment breakdown
Total cost for buyerAED 2,657,790The unit price plus the transfer fees and commission — the whole commitment, not the headline.
Unit priceAED 2,500,000
Fees and commissionAED 157,790
Step 01Due at transferAED 2,090,000Payable when the unit transfers to the buyer.
- Payment to sellerAED 1,932,210
- DLD Transfer fee 4% + 40 AEDAED 100,040
- Trustee Office FeeAED 5,250
- Buyer's Agency Commission (2% + VAT)AED 52,500
- Total on transferAED 2,090,000
Step 02Payable to DAMAC after transferAED 567,790The balance of the payment plan, which the buyer takes over.
- 80% constructionAED 49,460
- 90% constructionAED 23,730
- On HandoverAED 494,600
- Total remaining payment planAED 567,790
Ask us to walk through this schedule, or to confirm the current balance with the developer before terms are agreed.
Ask about these termsPhotography
Gallery
Layout
Floor plan
Distress Deal
PROJECT DESCRIPTION
OVERVIEW
LOCATION & TRANSPORT
DAMAC Lagoons sits in the Dubailand band west of Al Qudra Road, directly opposite DAMAC Hills and adjacent to the wider Dubai Land Residence corridor. Access is via Hessa Street and Sheikh Zayed Bin Hamdan Al Nahyan Street, with Sheikh Mohammed Bin Zayed Road carrying traffic north towards Dubai Marina and south towards Expo City. Dubai Marina and Jumeirah Golf Estates are around twenty minutes by car, Downtown Dubai around thirty, and Al Maktoum International Airport roughly twenty-five to the south-west. The community is car-dependent with no metro access, which is typical of the townhouse and villa communities in this corridor and is reflected in the price per square foot. Al Maktoum International and the Expo City district to the south-west are the longer-term infrastructure story for this corridor, and both are still developing.
AMENITIES & SURROUNDING
DAMAC Lagoons is built around a swimmable lagoon system, with each cluster themed on a Mediterranean destination; Mykonos is one of those clusters. The masterplan is planned around water features, beaches, waterside boardwalks, sports courts and community pools, with retail and food and beverage units integrated into the central amenity zones. The townhouse itself has a balcony, private parking and a ground-plus-one layout across 2,282 sq.ft of built-up area, which gives four bedrooms genuine room. DAMAC Hills, immediately adjacent, brings the Trump International Golf Club, an established retail strip and schools into easy reach. Wider schooling and healthcare in the corridor are concentrated around Dubai Sports City and Motor City to the north. Because the lagoon and its beaches are the reason the community prices where it does, the delivery status of the amenity zones nearest this cluster is worth checking on site rather than taking from the masterplan drawings.
MARKET
At AED 1,096 per square foot on built-up area, this is a low entry point for a four-bedroom townhouse, and four-bedroom townhouse stock in the Dubailand corridor competes primarily on that figure. The discount of 2.8% below original price is small, so the case rests on the underlying price rather than the reduction. The payment structure is favourable to a buyer with cash: over three-quarters of the total cost settles at transfer and only AED 567,790 remains, most of it at handover in March 2027. DAMAC Lagoons is a large masterplan still delivering, and the volume of townhouse stock coming forward across the corridor is the principal risk to values and to rent. Demand has been driven by families priced out of Arabian Ranches and DAMAC Hills. Townhouses of this size in the corridor have historically attracted families on medium-term leases rather than short-hold investors, which tends to make rents steadier but resale slower.
CONCLUSION
This townhouse suits a buyer who wants four bedrooms and a lagoon-community address at the lower end of the per-square-foot range, and who can settle most of the price at transfer. The March 2027 handover is close, the remaining commitment is modest, and the DAMAC Lagoons amenity programme is the draw. The reservations are that the discount to original price is slight, the community is car-dependent, and a great deal of similar stock is being delivered in the same corridor. All figures are taken from the seller's published listing. Confirm the construction status, the service charge and the exact milestone triggers with us before acting, and we can arrange an introduction to the seller's agent. We can also confirm which lagoon phases are complete and which are still under construction.
Location
MYKONOS — DAMAC Lagoons, Dubai
Illustrative model
Scenario modeller
Set your own assumptions and see how DISTRESS DEAL: 4-BR IN MYKONOS behaves as a cash purchase, the same purchase mortgaged, or a capital-only resale.
Listed
17 September 2026
The date this listing was added to our records. The asking price below is the one published then, and was still 0 days old when we last checked this listing on 17 September 2026. It is not re-checked against the market automatically, so confirm it with us before relying on it.
Below original price
2.8%
As stated on this listing: the asking price measured against the original purchase price recorded for this unit. It is not a discount to current market value and not a valuation — a unit priced below what it originally sold for may still be at or above what comparable units achieve today. Check the registered comparables before treating the gap as equity. It is not used in any calculation below.
Asking price per sq.ft
AED 1,096/sqft
The asking price divided by the stated size. Compare it against registered sales in the same building before deciding whether the asking price is competitive.
Total cash investedThe purchase price plus every cost of getting the keys. It is the denominator of the ROI, ROE and IRR figures.
AED 2.65M
Price plus every acquisition cost
Illustrative exit price
AED 2.50M
After 5 yr at 0.0% p.a.
Total profit, capital onlyCapital movement over the hold, less every purchase and sale cost and the service charge. It carries no rental income at all, because no rent has been set.
—
Set service charge, maintenance & management, vacancy allowance above
Net yieldNet operating income (rent collected less management, maintenance and service charge) divided by the purchase price. It cannot be calculated until a gross annual rent is set.
—
Set a gross annual rent
Cash out, and cash back over 5 years
Set service charge, maintenance & management, vacancy allowance above to see cash back — until then this figure would be assuming zero for them.
Cash required at completion
Purchase priceAED 2,500,000
DLD transfer fee (4%)AED 100,000
Agency fee (2%)AED 50,000
VAT on agency fee (5%)AED 2,500
Conveyancing, trustee & adminAED 0
Total cash investedAED 2,652,500
ROI and IRR are calculated on this figure: the price plus every cost of getting the keys.
No rental evidence is held for this unit. The rent figure is yours to set — we have not assumed one. Until you enter a gross annual rent, the yield, ROI/ROE and IRR figures reflect capital movement and costs only.
Annual operating position
Gross annual rentAED 0
Vacancy allowance (not set)—
Maintenance & management (not set)—
Service charge (2,282 sq ft at a rate not yet set)—
Net operating income—
Figures marked “—” need service charge, maintenance & management, vacancy allowance entered above — we do not compute them on an assumed zero.
Cash-flow schedule — the 5-year figures the IRR is solved from (incomplete, see note)
| Year | Net operating income | Sale proceeds, net | Net cash flow |
|---|---|---|---|
| 0 · today | — | — | −AED 2,652,500 |
| 1 | AED 0 | — | AED 0 |
| 2 | AED 0 | — | AED 0 |
| 3 | AED 0 | — | AED 0 |
| 4 | AED 0 | — | AED 0 |
| 5 | AED 0 | AED 2,447,500 | AED 2,447,500 |
| Years 1–5 | AED 0 | AED 2,447,500 | AED 2,447,500 |
| Less the year-0 outflow of AED 2,652,500 → total profit | −AED 205,000 | ||
Exit at year 5: illustrative sale price AED 2,500,000 less selling costs AED 52,500 = AED 2,447,500 net. The final column is the schedule the IRR is solved from. Rent is held flat in nominal terms — the rent-growth field is at 0% — as is the service charge, so no inflation is assumed on either side. This audit table is arithmetic, so every row must resolve to a number — but service charge, maintenance & management, vacancy allowance are not set above, and the figures here currently assume zero for them. Nothing on this table should be read as a result until you set them; the headline tiles above withhold theirs for exactly this reason.
Sensitivity — the same purchase at −5% to +5% exit growth
| Exit growth | Exit price | Total profit | ROI | IRR |
|---|---|---|---|---|
| −5% p.a. | AED 1.93M | — | — | — |
| −3% p.a. | AED 2.15M | — | — | — |
| 0% p.a.your figure | AED 2.50M | — | — | — |
| 3% p.a. | AED 2.90M | — | — | — |
| 5% p.a. | AED 3.19M | — | — | — |
Each row re-runs the whole model with only the exit growth rate changed, over the same 5-year hold. The 0% and negative rows are not a worst case — they are simply what the same purchase returns if prices do not rise. Dubai prices have fallen in the past and can fall again. The return columns are shown as “—” until a gross annual rent is set; the total profit column reflects capital movement, purchase and sale costs and the service charge only.
Method
- Handover
- The date the unit is handed over, set in quarters from purchase. Gross rent, the vacancy allowance, maintenance and management, and the service charge all start there and not before — an unbuilt unit cannot be let and is not billed. The year handover falls in gets the exact fraction it is entitled to, not a rounded whole year. Capital growth is not treated this way: it compounds from today across the whole hold, because an off-plan unit can be sold before it completes. Where the holding period ends before handover, there is no operating income anywhere in the schedule and the whole return is capital movement less costs.
- Gross yield
- Gross annual rent ÷ purchase price. Before every cost. Where handover is in the future this is a stabilised full year from handover — a rate on the price, not a figure reduced by the construction period. The schedule shows what each year actually books.
- Net yield
- (Rent collected after the vacancy allowance − maintenance and management − service charge) ÷ purchase price. Stabilised on the same basis as the gross yield.
- Rent growth
- Compound annual movement in gross rent, applied from handover and stepping at each anniversary of it, which is when a tenancy renews. It may be negative. It does not touch the service charge, which is held flat in nominal terms.
- ROI
- Total profit over the whole hold ÷ total cash invested (price + all acquisition costs). Unlevered. Not an annual rate.
- ROE
- Total profit over the whole hold ÷ equity contributed (deposit + all acquisition and finance costs), after debt service. Levered. Not an annual rate.
- Cash-on-cash return
- Year-one operating cash flow, after debt service where there is a mortgage, ÷ cash invested. Reported separately from ROI/ROE and never merged with it. Year one means the first year of the schedule as it stands: where that year falls before handover it carries no rent, so on a mortgaged off-plan purchase the figure is negative — that is the year you fund out of pocket, and it is shown rather than smoothed away.
- IRR
- The annualised rate that discounts the dated cash-flow schedule above to a net present value of zero, solved numerically. Where the schedule has no sign change, or the solver does not converge on a single meaningful rate, we print “—” rather than substitute a simpler annualised-return figure.
Email my results
We’ll send this scenario — your assumptions and the figures they produce — to your inbox.
Set service charge, maintenance & management, vacancy allowance above and we can email you this scenario. Until then every headline figure reads “—”, because the model would otherwise be assuming zero for them — and we publish no figure for them.
An illustrative model, not a forecast, a valuation, an offer or investment advice. Every figure is generated from the assumptions on this page — some yours, the rest stated defaults, not promises. Rents, service charges, fees, vacancy, handover dates, financing terms and sale prices vary by unit and over time; past prices are not a guide to future prices. Returns are not guaranteed and capital is at risk.
Mortgage availability, loan-to-value, rate and term are subject to lender criteria and underwriting; nothing here indicates that finance will be offered. Figures exclude any tax payable in your country of residence — take independent financial, tax and legal advice before committing. Mitchell's Commercial Real Estate is a trading brand; the RERA-licensed broker is Stephen James Mitchell, BRN 68593.
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