Payment Plan
Mykonos Payment Plan at DAMAC Lagoons
The Mykonos launch payment plan in full, with 20 percent deposit, 60 percent across construction and 20 percent on handover. Milestone triggers included.
This was the launch payment plan for a cluster that is now sold out and still in construction. Resale purchases do not follow it.
20 percent deposit, 60 percent across construction and 20 percent on completion. Eleven instalments are tied to calendar dates running to 33 months, and three are tied to verified construction milestones at 70, 80 and 90 percent.
There is no post handover plan. 4 percent DLD is payable in addition to the initial deposit.
DAMAC's Mykonos project page states a 60/40 payment plan. The Dubai Land Department registry records 20 percent deposit, 60 percent during construction and 20 percent on handover. The attached DAMAC pricing and payment plan sheet resolves the schedule as 20 / 60 / 20 with milestone detail, matching the registry shape. We publish the sheet schedule and disclose the project page conflict.
DAMAC's own Mykonos project page still shows a Q4 2025 handover. That was the original target. The registry expected completion is 28 February 2027 and construction is 79.74 percent built, so the project page figure is out of date.
| Milestone | When | Value |
|---|---|---|
| Deposit | Immediate | 20% |
| 1st instalment | Within 3 months of sale date | 5% |
| 2nd instalment | Within 6 months of sale date | 5% |
| 3rd instalment | Within 9 months of sale date | 5% |
| 4th instalment | Within 12 months of sale date | 5% |
| 5th instalment | Within 15 months of sale date | 5% |
| 6th instalment | Within 18 months of sale date | 5% |
| 7th instalment | Within 21 months of sale date | 5% |
| 8th instalment | Within 24 months of sale date | 5% |
| 9th instalment | Within 27 months of sale date | 5% |
| 10th instalment | Within 30 months of sale date | 5% |
| 11th instalment | Within 33 months of sale date | 5% |
| 12th instalment | On completion of 70 percent of project | 2% |
| 13th instalment | On completion of 80 percent of project | 2% |
| 14th instalment | On completion of 90 percent of project | 1% |
| 15th instalment | On completion | 20% |
| Total | 100% |
The same schedule structure appears on the Ibiza payment plan and the Morocco payment plan. Compare with the more milestone linked Monte Carlo payment plan.
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Mykonos FAQ
- Is Mykonos at DAMAC Lagoons still available?
- The Dubai Land Department registry records Mykonos as sold out, so developer stock is not available. It trades on the off plan resale market and the project has not completed.
- How many homes are there in Mykonos?
- 540, all townhouses, in a single project with no phases. 338 are four bedroom and 108 are five bedroom. The registry records a further 94 homes with no bedroom count.
- When will Mykonos be handed over?
- Mykonos has not completed. It is 79.74 percent built with expected completion on 28 February 2027, roughly 14 months after its 31 December 2025 target. DAMAC's own project page still shows the original Q4 2025 handover.
- What did Mykonos homes launch at?
- The registry records the four bedroom townhouse at AED 2,450,000 and the five bedroom at AED 3,230,000, which work out at roughly AED 1,073 and AED 957 per sqft against their registered sizes.
- How do Mykonos prices compare with other clusters?
- The Mykonos five bedroom townhouse is 3,376 sqft, the same size as Malta's and within one square foot of Ibiza's. Malta launched that home at AED 2,600,000 in May 2022, Ibiza at AED 2,800,000 in December 2022 and Mykonos at AED 3,230,000 in May 2023, an increase of 24.2 percent across roughly eleven months. On the four bedroom the same comparison shows 40.0 percent.
- How big are Mykonos homes?
- Four bedroom townhouses are 2,283 sqft and five bedrooms are 3,376 sqft. The ten units we hold plot data for sit on 4,650 to 4,847 sqft, which is larger than the townhouse plots recorded elsewhere in the community and which we have flagged.