Barbados at DAMAC Islands 2 Escrow Account

Mashreq Bank Psc holds the escrow account for Barbados at DAMAC Islands 2, account number 0190*****766, shown in full in the Escrow Details section above. The account is recorded against DLD project number 4294, which was registered with the Dubai Land Department on 22 December 2025.

Barbados runs a 20/55/25 structure: 20 percent on booking, then 55 percent spread over 47 monthly instalments falling between the third and the forty ninth month from sale, then 25 percent on completion. The 4 percent Dubai Land Department registration fee is paid in addition to the initial deposit. All of those payments go into the project escrow account first, and funds reach the developer only against construction progress recorded by Dubai Land Department inspections rather than on the instalment calendar.

The Dubai Land Department project register recorded 0.18 percent construction progress for project 4294 at the inspection dated 10 June 2026, up from zero at the previous inspection. The Independent Progress Monitoring Report filed for that visit carries the status Enabling Works - Progressing and prints no percentage of its own, so 0.18 percent is a register reading. Releases follow that recorded progress, so very little has left the account at this stage. Each inspection cycle is tracked on the Barbados at DAMAC Islands 2 construction updates page.

No. Every off-plan payment for Barbados at DAMAC Islands 2 belongs in the DLD-registered escrow account 0190*****766 at Mashreq Bank Psc, whose 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 a different company account, particularly one offering a discount for paying outside the escrow account, matches the standard pattern of payment diversion fraud however official the paperwork appears. Any such request can be checked against the escrow account shown in Dubai REST and the escrow details in the Sales and Purchase Agreement before funds move.

It stays in the escrow account and continues to be released only against recorded construction progress, whatever the calendar says. Escrow protects the capital while the project is completed; it does not itself pay compensation for a delay, and any compensation terms sit in the Sales and Purchase Agreement rather than in the escrow framework.

If the Dubai Land Department cancels a registered project, RERA takes control of the escrow account and buyer refunds are processed from the protected balance under Dubai Land Department supervision. That mechanism only reaches money that was actually paid into the registered account, which is the practical reason for never paying anywhere else. The wider regulatory framework is set out in the Dubai Land Department guide.

Barbados at DAMAC Islands 2 is freehold and open to all nationalities, with no residency requirement attached to ownership. The escrow account applies to every buyer in the same way, whatever their nationality or country of residence.

The entry level 4 bedroom townhouse at Barbados at DAMAC Islands 2 starts at AED 2.75M, approximately USD 749,000, which sits above the AED 2 million property investment threshold for the 10 year UAE Golden Visa. The eligibility conditions and the timing of an application are covered in the Barbados at DAMAC Islands 2 Golden Visa guide.