Bahamas at DAMAC Islands 2 Escrow Account

First Abu Dhabi Bank P.J.S.C. holds the escrow account for Bahamas at DAMAC Islands 2, account number 4031*****3608002 (shown in full in the Escrow Details section above). The account sits under DLD project number 4243, registered with the Dubai Land Department on 27 November 2025, and the same bank is named as the trust account bank in the project's inspection reports.

No. Off-plan payments for Bahamas at DAMAC Islands 2 belong in the DLD-registered escrow account 4031*****3608002 at First Abu Dhabi Bank (the full number sits in the Escrow Details section above), exactly as recorded in the Sales and Purchase Agreement. A request to route money to a personal account, an agent, or a different company account, particularly one that offers a discount for paying outside escrow, matches the standard pattern of payment fraud however official the documents appear. Any such request is checked against the escrow record in Dubai REST and the Sales and Purchase Agreement before any funds move.

The Dubai REST app shows them under Services, then Project Status, through a search for project number 4243 or the registered name Damac Islands 2 - Bahamas 1. The project record lists Bahamas as Active with 544 units, and its escrow section names the bank and the account number, which match this page and the escrow details in the Sales and Purchase Agreement digit for digit.

The launch plan for Bahamas at DAMAC Islands 2 takes a 20 percent deposit, then 55 percent across 47 monthly instalments within months 3 to 49 from sale, and 25 percent on completion. The deposit and instalments are paid into the escrow account on their calendar dates, while releases to the developer follow construction progress recorded by DLD inspections, so the two timelines run separately. The final 25 percent falls due at completion, registered for 30 June 2030.

No. The Bahamas 1 launch payment plan lists the 4% DLD registration fee as payable in addition to the 20 percent deposit. It is a Dubai Land Department fee for registering the purchase, not an instalment toward the price, so it is not part of the construction funds the escrow account holds and releases against progress.

The DLD register shows 0.33 percent progress for Bahamas at DAMAC Islands 2 at the inspection dated 14 May 2026, up from 0 percent on 24 November 2025, and the monitoring report describes mobilization and early enabling works. Releases from the escrow account are tied to construction progress recorded through these inspections, so at this stage almost all of the construction-linked value in the project is still ahead of the record. Each new reading is tracked on the Bahamas at DAMAC Islands 2 construction updates page.

Yes, the protection does not expire on a date. Funds remain in the escrow account and continue to be released only against recorded construction progress, whatever the calendar says. Escrow protects capital while the project is completed; it does not compensate buyers for a delay, and delay terms sit in the Sales and Purchase Agreement.

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 safeguard reaches only money paid into the registered account, which is why a payment sent anywhere else sits outside it. The wider framework is explained in the Dubai Land Department guide.