Bora Bora at DAMAC Islands Escrow Account

The trust account for Bora Bora 1, the first registered phase of the Bora Bora cluster, is held by Emirates NBD Bank (P.J.S.C): account number 0205*****2939 (the full number is in the Escrow Details section above), recorded under DLD project number 3498, which was registered on 5 February 2025. Each other phase of the cluster has its own project record and escrow account.

The account on this page is the Bora Bora 1 phase trust account. The Dubai Land Department lists the Bora Bora cluster as separate phases, Bora Bora 1 to 4, each with its own project record and escrow account, so a buyer in Bora Bora 2, 3 or 4 pays into the account named in their own Sales and Purchase Agreement and shown on that phase's Dubai REST record, not into the Bora Bora 1 account.

The Dubai REST app holds the record. Under Services and then Project Status, a search for project number 3498 or the register name "Damac Islands - Bora Bora 1" opens the Bora Bora 1 entry, and its Escrow panel shows the bank name and account number. Those details are the reference for the escrow section of the Sales and Purchase Agreement and for every payment instruction. Buyers in another phase search for that phase's own record instead.

Under DAMAC's launch payment plan for DAMAC Islands (November 2024 sheets), the 20% booking deposit, the 39 monthly instalments totalling 55% and the 25% completion payment are paid into the escrow account of the buyer's phase. The instalments fall due by date under the SPA schedule rather than by construction milestone, while releases from the account to the developer follow construction progress verified by DLD inspections. The current Bora Bora schedule is the one DAMAC sets out in the SPA.

No. The 4% DLD registration fee is paid at booking in addition to the 20% deposit, and it goes to the Dubai Land Department as a registration cost. It is not held in the escrow account and it is not part of the balance released to the developer.

The DLD inspection recorded on 12 October 2026 gives Bora Bora 1 a register reading of 6.77 percent, up from 2.24 percent at the 4 May 2026 inspection, with the progress status "Main Contract - Progressing". Releases from the Bora Bora 1 escrow account to the developer are tied to the progress that inspections verify, so a reading at this early stage limits what can be drawn from the account against construction. The reading covers Bora Bora 1 only, and each new inspection is tracked on the Bora Bora at DAMAC Islands construction updates page.

Yes. The protection is not tied to the calendar: money in the escrow account stays there until DLD inspections verify further progress, whenever that happens. Escrow protects capital while a project is completed, but it does not compensate buyers for delays, which are governed by the Sales and Purchase Agreement. Handover at Bora Bora is expected in Q4 2028, and the contractual date is the one in the SPA.

No. Off-plan payments for a Bora Bora 1 home are made only into the Bora Bora 1 escrow account 0205*****2939 at Emirates NBD, registered with the DLD (revealed in full in the Escrow Details section above) and recorded in the Sales and Purchase Agreement; homes in other phases use the account named in their own SPA. A request to send money to an individual, to an agent, or to any company account other than the escrow account, particularly one offered with a discount for paying outside escrow, is the typical shape of payment-diversion fraud, however official the documents appear. Any such request is tested against the Dubai REST record and the SPA before money moves.

RERA takes control of the escrow account if a project is cancelled, and the protected balance, including refunds to buyers, is then handled under DLD supervision. That safety net covers money paid into the registered account only; a payment sent anywhere else sits outside it. The wider framework is covered in the Dubai Land Department guide.

Yes. A retention portion of the escrow balance is held after completion as a reserve for defect repairs, so part of the money stays protected while buyers take possession and inspect their homes. The size and duration of the retention are set by the escrow framework and the Sales and Purchase Agreement, not shown on the DLD record.

The Dubai Land Department record for Bora Bora 1 (project 3498) names DAMAC Elite Investment Co. L.L.C, developer number 2035, as the registered developer, while the project is marketed under the DAMAC Properties name. The registered name is the one that appears on the DLD project record that the escrow account serves.

Escrow protects capital paid into the registered account. It does not compensate for delays, it does not fix a handover date, it does not cover money sent to any other account, and it does not hold the 4% DLD registration fee, which is paid to the Dubai Land Department. Completion obligations, specifications and delay terms sit in the Sales and Purchase Agreement.