Antigua at DAMAC Islands 2 Escrow Account

Mashreq Bank PSC holds the escrow account for Antigua at DAMAC Islands 2, account number 0190*****112 (shown in full in the Escrow Details section above). The account is recorded against DLD project number 4369, which the Dubai Land Department register lists as registered on 25 March 2026.

The 20 percent booking deposit and the 55 percent spread across 47 monthly instalments are paid into the project escrow account, not to DAMAC directly. The bank releases funds to the developer only against verified construction progress recorded by the Dubai Land Department, while buyer instalments stay on their dated schedule. The remaining 25 percent is due on completion, which the developer anticipates in June 2030.

The Dubai Land Department project register read 0.32 percent at the inspection dated 16 September 2026, up from 0 percent at the previous inspection dated 28 January 2026, with the September report recording mobilization on going and enabling works at an early stage. Escrow releases to the developer follow verified construction progress, so the project sits at the start of the progress record against which releases are measured. Each dated reading is tracked on the Antigua at DAMAC Islands 2 construction updates page.

Yes, the protection continues. Funds stay in the escrow account and are released only against verified construction progress, regardless of the calendar. The developer anticipates completion in June 2030, and the DLD project register carries a registered completion date of 31 December 2030. Escrow protects capital while the project completes, but it does not itself compensate for delays; those terms sit in the Sales and Purchase Agreement.

No. Every off-plan payment for Antigua at DAMAC Islands 2 must go into the DLD-registered escrow account 0190*****112 at Mashreq Bank PSC (the full number sits in the Escrow Details section above), exactly as recorded in the Sales and Purchase Agreement. A request to send funds to a personal account, an agent's account or an alternative company account, particularly one paired with a discount for paying directly, follows the classic pattern of payment fraud however official the paperwork appears. Any such request should be checked against the escrow account registered in Dubai REST and the details in the Sales and Purchase Agreement before any funds are sent.

If the Dubai Land Department cancels a registered project, RERA takes control of the escrow account and buyer refunds are processed from the protected funds under DLD supervision. Only money paid into the registered account sits inside that protection; funds sent anywhere else fall outside it. The mechanism applies at every stage of the build, including the enabling works stage recorded at Antigua in September 2026. The wider framework is explained in the Dubai Land Department guide.

The Project Status service under Services in the Dubai REST app lists Antigua at DAMAC Islands 2 as project 4369, named Damac Islands 2 - Antigua 1. Its escrow details show Mashreq Bank PSC and the account number that appears masked as 0190*****112 on this page, and both are meant to match the escrow details in the Sales and Purchase Agreement before each transfer.

No. The 4% DLD registration fee is payable in addition to the 20 percent initial deposit and is paid to the Dubai Land Department rather than into the escrow account, so it does not form part of the funds held for construction or released to DAMAC. The deposit and every later instalment go into the project escrow account at Mashreq Bank PSC.