This 5-bedroom townhouse in Mykonos, DAMAC Lagoons, is offered as a distress deal at AED 3,150,000, compared to an original price of AED 4,343,040. The resulting 27.5% discount positions the entry at AED 930 per sq.ft for a built-up area of 3,388 sq.ft. The property is a G+2 layout with a plot size of 2,402 sq.ft, and handover is scheduled for Q2 2027. The deal thesis is straightforward: the buyer secures a large, family-oriented townhouse in a masterplanned community at a significant discount to the original developer price, with a staged payment plan extending through to completion. For investors, this means a lower capital outlay upfront and the potential to benefit from price appreciation as the project nears handover and the wider DAMAC Lagoons community matures.
MYKONOS · DAMAC LagoonsDAMAC · DAMAC Lagoons
DISTRESS DEAL: 5-BR IN MYKONOS
- Unit
- 5-BR
- Size
- 3,388 sq.ft
- Developer
- DAMAC
- Handover
- Q2 2027
The discount is measured against the original price + DLD recorded for this unit, not against a valuation.
This unit has sold. The page is kept as a record of a deal we transacted. Every figure on it — the asking price, the discount to original price and the payment schedule — is the position as listed on 23 June 2026 and is historic. It is not an indication of what the same unit, or a comparable one, would cost today.
On this page
Quick navigation
The numbers
Payment breakdown
- Payment to sellerAED 2,089,520
- DLD Transfer fee 4% + 40 AEDAED 122,040
- DLD Registration Trustee fee + 5%VATAED 5,250
- Buyer's agent comission 2% + 5%VATAED 64,050
- Total on transferAED 2,386,960
- On 80% of CompletionAED 83,520
- On 90% of CompletionAED 41,760
- On HandoverAED 835,200
- Total remaining payment planAED 960,480
This unit has sold. Tell us what you are looking for and we will send the deals that are open now.
Show me deals like this oneLayout
Floor plan
Distress Deal
PROJECT DESCRIPTION
OVERVIEW
LOCATION & TRANSPORT
Mykonos is a sub-community within DAMAC Lagoons, a large-scale master development located at the intersection of Hessa Street (D61) and Sheikh Zayed Bin Hamdan Al Nahyan Street (D54) in Al Hebiah Fifth. This area is positioned to benefit from ongoing infrastructure improvements and the continued expansion of Dubai’s residential corridors. Access to major road networks is direct, with Hessa Street providing connectivity to Dubai Marina, Jumeirah Village Circle, and the wider city. Public transport options are still developing in this corridor, so private vehicles and ride-hailing services remain the primary modes of transport for residents. For families and professionals, the location offers a balance between city access and a quieter, suburban environment, with the added benefit of being part of a new, themed community.
AMENITIES & SURROUNDING
DAMAC Lagoons is designed as a lifestyle-focused, resort-inspired community, with Mykonos drawing on Mediterranean themes. Residents will have access to a range of amenities including man-made lagoons, swimming pools, landscaped parks, children’s play areas, and dedicated sports facilities. The wider community plan includes retail outlets, cafes, schools, and healthcare provision, though some of these are still in the pipeline as the area develops. The project’s masterplan aims to create a self-contained environment, with leisure and recreation at the forefront. The Mykonos cluster is expected to benefit from proximity to the main lagoon, walking trails, and communal gathering spaces, supporting both family living and community engagement. Surrounding infrastructure is advancing, with neighbouring communities such as DAMAC Hills and Tilal Al Ghaf providing additional retail and service options within a short drive.
MARKET
The current entry price of AED 930 per sq.ft is notably below both the original developer price and recent transaction benchmarks for comparable townhouse stock in DAMAC Lagoons. At launch, five-bedroom units in Mykonos were priced from around AED 3 million, and recent land transactions in the community have shown a wide range of price points, reflecting both plot size and location within the masterplan. The key investor case here is the combination of a substantial discount and the staged payment plan, which reduces holding risk prior to handover. Rentability will depend on the pace of community completion and the delivery of promised amenities, but the five-bedroom format is likely to appeal to larger families and multi-generational households, both for end-use and rental. Liquidity on resale will be influenced by the overall performance of DAMAC Lagoons and the broader Dubai villa and townhouse market, which has shown resilience but is sensitive to supply and macroeconomic shifts. Risks include construction timelines, the delivery of community infrastructure, and the potential for further supply in the area to affect pricing power at handover.
CONCLUSION
This distress deal offers a clear value proposition for investors seeking exposure to Dubai’s growing suburban townhouse segment. The discount to original price is substantial, the payment schedule is manageable, and the product is sized for genuine family demand. The main considerations are the construction status, the pace of wider community delivery, and the need for ongoing due diligence on service charges and final build quality. For buyers comfortable with a medium-term hold and the dynamics of a developing master community, this Mykonos townhouse represents a disciplined entry point with both capital appreciation and rental potential as the area matures.
Location
MYKONOS — DAMAC Lagoons, Dubai
Illustrative model
Scenario modeller
Set your own assumptions and see how DISTRESS DEAL: 5-BR IN MYKONOS behaves as a cash purchase, the same purchase mortgaged, or a capital-only resale.
Enter the asking price to run the model.
Every figure recalculates as you type. Use the price you are considering.
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.
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.
More deals
The latest distress deals
The most recently listed deals that were still available when we last checked. Sold units are not shown here.
Emaar Beachfront
DISTRESS DEAL: 1-BR IN DAMAC BAY - TOWER C
- Price / sq.ft
- AED 3,378
- Developer
- Damac
- Handover
- Q4 2027
Rashid Yachts and Marina
DISTRESS DEAL: 1-BR IN OCEAN POINT - TOWER 2
- Price / sq.ft
- AED 1,908
- Developer
- Emaar
Emaar Beachfront
DISTRESS DEAL: 1-BR IN SEAPOINT - TOWER 2
- Size
- 764 sq.ft
- Price / sq.ft
- AED 3,442
- Developer
- Emaar
- Handover
- Q2 2028
Bluewaters Island
DISTRESS DEAL: 2-BR + Maid's IN BLUEWATERS BAY - BUILDING 1
- Size
- 1,670 sq.ft
- Price / sq.ft
- AED 3,145
- Developer
- Meraas
- Handover
- Q3 2027
Sobha Hartland II
DISTRESS DEAL: 2-BR IN SKYSCAPE ALTIUS
- Size
- 1,268 sq.ft
- Price / sq.ft
- AED 2,129
- Developer
- Sobha
- Handover
- Q4 2028
Emaar Beachfront
DISTRESS DEAL: BULK DEAL - 9 APARTMENTS IN BAYVIEW - TOWER 1
- Size
- 10,041 sq.ft
- Price / sq.ft
- AED 4,681
- Developer
- Emaar
- Handover
- Q2 2027
Read next
A discounted unit is bought the same way any other is. The questions are just sharper. These are our own guides and articles on buying from overseas, taking on a resale or an off-plan assignment, and what the purchase costs.
The gold rule under an entry is its length, against the longest piece here.
Guides
How to Buy Dubai Property from Overseas
Power of attorney, attestation country by country, remote AML checks, funding the purchase, and remote signing against a short trip.
How to Buy Ready (Secondary) Property in Dubai
The fixed sequence the Land Department sets for a resale — an agreed Form F, a deposit, a developer NOC and the Trustee Office transfer.
Pre-Handover Assignment (Off-Plan ‘Flipping’) in Dubai: How It Works
Assigning an off-plan unit before handover — the developer NOC and minimum-paid rules, the fees that come off the profit, and when it still loses money.
Off-Plan Payment Plans in Dubai Explained: 10/90, 50/50 and Post-Handover
Construction-linked and post-handover structures, what escrow protects at each stage, and what happens if a later instalment cannot be funded.
NOC (No Objection Certificate) for a Dubai Property Purchase
What the developer’s certificate confirms, how service-charge clearance runs through Mollak, and the usual reasons issuance is delayed.
How to Vet a Dubai Developer Before You Buy
Brochures are marketing; DLD registration, project escrow status and broker licensing are checkable public facts. How to verify all three.
A Due-Diligence Checklist for Buying in Dubai
Who owns the title, whether the unit carries a mortgage or a restriction, and whether its service charges are current. In order, with the tool that verifies each.
The True Cost of Buying Property in Dubai: All Fees Explained
Transfer, trustee office, agency commission, developer NOC and the mortgage costs, each set against the Land Department’s own published figures.
Mortgages for Non-Residents in Dubai
What a genuine non-resident can borrow, as distinct from a UAE-resident expatriate, which banks lend, and how a purchase is completed remotely.
Capital Gains & Property Tax in Dubai: What Investors Actually Pay
What an individual owner is and is not charged here, which transaction cost is the real one, and why your home-country position is a separate question.
Articles
How to Buy a Cancellation Unit in Dubai: Strategic Guide
A cancellation unit is a launch booking the first buyer lost — how they reach the market, and the steps to secure one at launch pricing.
How to Buy Dubai Property During Crisis and Build a Portfolio at Peak Fear
The historical entry points, yields by district, and a contrarian acquisition process for buying when confidence is at its lowest.
Buying a Resale Property in Dubai: Step-by-Step Guide for Investors
The process, the legal steps, the costs and the mortgage options, for residents and international investors alike.
How to Buy Property in Dubai as a Foreign Investor: Step-By-Step Guide
Costs, the legal process, the risks, and how to structure the investment — written for a buyer outside the UAE.
Buying Off-Plan Property in Dubai: Primary Market Guide
The primary market end to end. EOIs, SPAs, payment plans, Oqood, escrow, resales and mortgages.
Residential Mortgages in Dubai: Guide for Expats and Investors
Rates, loan-to-value limits, eligibility, fees and the documents a lender asks for, for residents and investors.