Azure 2 at DAMAC Riverside Views Escrow Account

The escrow account for Azure 2 is held at Mashreq Bank PSC under account number 0190*****173 (shown in full in the Escrow Details section above). It is linked to DLD project number 3661, registered on 18 May 2025 under the register name "Damac Riverside Views - Azure 2".

Azure 2 buyer payments sit with Mashreq Bank in an account that the developer cannot draw on freely. Money moves to the developer in tranches, each one tied to construction progress logged at Dubai Land Department inspections; a strong sales period on its own does not unlock additional funds.

No. The 5.8% figure, recorded for Azure 2 at the inspection on 30 September 2026 (previous reading 5.18% on 14 April 2026), measures construction progress, not the escrow balance or the amount paid out to the developer. The progress status at that inspection was "Enabling Works - Progressing". Because releases follow recorded progress, the reading shows how much of the work has been verified on site so far, which at this stage is a small share. Each new inspection is tracked on the Azure 2 construction updates page.

All three parts of the DAMAC Riverside Views regular payment plan, meaning the 20% deposit, the 60% spread over 40 instalments and the final 20% on completion, go into the Azure 2 escrow account. Instalment dates follow the schedule in the Sales and Purchase Agreement, which runs by months from booking. The regular plan is DAMAC's plan for the release that includes Azure 2, and the schedule for each unit is the one confirmed by DAMAC and set out in the SPA. Releases from escrow to the developer follow recorded construction progress, not the instalment calendar.

No. The 4% DLD registration fee is settled with the Dubai Land Department at the time of booking, in the same step as the 20% deposit, and never enters the escrow account. Calculated on the listed starting prices, it comes to AED 25,000 (approx USD 7K) for a Studio Apartment priced from AED 625,000, and AED 38,736 (approx USD 11K) for a 1 Bedroom Apartment priced from AED 968,400.

The protection is not tied to the calendar. Money paid into the account remains there, and it is still paid out only as inspections record further progress, however long the build runs. The DLD record lists a registered completion date of 31 March 2029, in line with the expected Q1 2029 handover; the contractual completion date is the one in the SPA. Escrow safeguards capital while the project is completed but does not itself pay compensation for delay; any delay terms sit in the Sales and Purchase Agreement.

No. The only correct destination for an Azure 2 off-plan payment is the DLD-registered escrow account 0190*****173 at Mashreq Bank (the full number sits in the Escrow Details section above), which is also the account written into the Sales and Purchase Agreement. Instructions to pay an individual, an agent or some other company, especially when a discount for paying directly is attached, follow the usual pattern of payment fraud, whatever letterhead they arrive on. Dubai REST and the SPA remain the two references any such instruction is tested against.

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. That protection covers money paid into the registered Azure 2 account; payments sent anywhere else fall outside it. At 5.8% recorded progress the project is at an early stage, and the mechanism applies whatever the stage. The wider framework is explained in the Dubai Land Department guide.

On both the DLD project record and the September 2026 inspection report, the developer entity for Azure 2 is DAMAC MRY Investment L.L.C, with developer number 1866. Buyers know the project through the DAMAC Properties brand, and for any individual purchase the contracting seller is whichever entity the Sales and Purchase Agreement names.

Yes. Under the escrow framework, a share of the funds stays in the account for a set period after completion as security for defect repairs. The size of that share and the length of the period are set by the framework and the Azure 2 Sales and Purchase Agreement.

Azure 2 has its own dated register history: registration with the DLD on 18 May 2025, a construction start on 11 August 2025, a 5.18% reading on 14 April 2026 and 5.8% at the 30 September 2026 inspection. Beyond the project itself, DAMAC's DAMAC Riverside Views materials describe a company active since 2002, with 47,600+ units delivered and 40,000+ units in progress as of June 2024 and a presence in more than 10 cities. Those figures cover DAMAC as a whole, not Azure 2 and not its registered developer entity.

Escrow protects buyer capital paid into the registered account and controls when it reaches the developer. It does not fix the handover date, does not compensate for completion beyond the expected date (any such terms sit in the SPA), does not protect payments made to any other account, and does not shield an apartment's market value or resale price from changes in the property market. The 4% DLD registration fee also sits outside escrow, as it is paid to the Dubai Land Department.