When will Damac Lagoons - Mykonos be completed?

The completion date registered with the Dubai Land Department is December 2025. At the pace of its recent inspections the site would reach 100% around July 2027. Developers can apply to the Land Department to extend the date, so check the register before relying on it.

How much of Damac Lagoons - Mykonos is built?

81%, measured at the Land Department site inspection on 30 September 2026. The Land Department engineers have inspected the site 11 times since February 2023.

Is Damac Lagoons - Mykonos delayed?

Yes. Its registered completion date of December 2025 has passed and the Land Department still lists it as under construction.

Who is building Damac Lagoons - Mykonos?

The registered developer is Island Oasis Properties. It has 26 other projects under construction in Dubai.

Which bank holds the escrow account for Damac Lagoons - Mykonos?

Emirates NBD. Dubai law requires payments for off-plan units to go into a project escrow account at a bank approved by the Land Department, so buyer money is held against this project only.

Damac Lagoons - Mykonos construction progress

Damac Lagoons - Mykonos in Al Hebiah Fifth is 81% built at the Land Department inspection of September 2026. Developer Island Oasis Properties. Completion registered for December 2025.

81%

Built, at the Land Department site inspection of 30 September 2026

9 months past its registered completion date

Completion date (Land Department): December 2025
Finish at recent pace: July 2027
Construction started: February 2023
Registered with the Land Department: October 2022
Developer: Island Oasis Properties
Community: Al Hebiah Fifth
Units: 575
Escrow bank: Emirates NBD
Name in Arabic: داماك لاجونز - ميكونوس
Land Department project number: 2487
Land Department site inspections: 11

Schedule

Damac Lagoons - Mykonos was registered to complete in December 2025, 9 months ago, and is still under construction. Over the last year of inspections it has added about 2.0 points a month. Kept at that rate, the site would reach 100% around July 2027.

Progress at each Land Department site inspectionStraight line from start to the Land Department completion date

Site inspections

30 September 2026

81%+1.3 pts

9 July 2026

80%+2.3 pts

13 May 2026

77%+17 pts

27 November 2025

61%+7.8 pts

19 June 2025

53%+9.2 pts

20 February 2025

44%+23 pts

26 September 2024

21%+14 pts

17 April 2024

7.0%+6.4 pts

21 August 2023

0.6%+0.3 pts

4 May 2023

0.3%+0.3 pts

All 69 site photos, by inspection date

Context

Al Hebiah Fifth has 20 projects under construction, 48% built on average.

Island Oasis Properties has 27 projects under construction in Dubai; 6 have passed their registered completion date.

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Questions

When will Damac Lagoons - Mykonos be completed?: The completion date registered with the Dubai Land Department is December 2025. At the pace of its recent inspections the site would reach 100% around July 2027. Developers can apply to the Land Department to extend the date, so check the register before relying on it.
How much of Damac Lagoons - Mykonos is built?: 81%, measured at the Land Department site inspection on 30 September 2026. The Land Department engineers have inspected the site 11 times since February 2023.
Is Damac Lagoons - Mykonos delayed?: Yes. Its registered completion date of December 2025 has passed and the Land Department still lists it as under construction.
Who is building Damac Lagoons - Mykonos?: The registered developer is Island Oasis Properties. It has 26 other projects under construction in Dubai.
Which bank holds the escrow account for Damac Lagoons - Mykonos?: Emirates NBD. Dubai law requires payments for off-plan units to go into a project escrow account at a bank approved by the Land Department, so buyer money is held against this project only.

Progress, dates, developer, units and escrow bank come from the Dubai Land Department’s Mashrooi register, read daily. The pace and the projected finish are Mulki’s own arithmetic on the last year of Land Department inspections, not a forecast from the developer. Site photos belong to the Dubai Land Department. See how Mulki works with Land Department data.