Capri 1 at DAMAC Riverside Views Escrow Account

Mashreq Bank PSC holds the escrow account for Capri 1, account number 0190*****175 (shown in full in the Escrow Details section above), linked to DLD project number 3663, which was registered with the Dubai Land Department in May 2025.

Withdrawals are not at the developer's discretion. Mashreq Bank releases funds from the Capri 1 escrow account to the developer only against construction progress recorded through Dubai Land Department inspections, and the account is supervised by the Dubai Land Department throughout the build.

The DLD register reading of 8.18%, recorded on 22 September 2026 with the Progress Status "Enabling Works - Progressing", measures how far construction has advanced, not how much money sits in escrow. Because releases follow inspected progress, the bulk of the build that escrow releases are tied to is still ahead at this stage. Each new Capri 1 inspection is tracked on the Capri 1 construction updates page.

Within the DAMAC Riverside Views regular plan, the 20% deposit, the 60% spread across 40 instalments and the 20% completion payment are all paid into the escrow account. The instalments fall due by months from booking, as set in the SPA schedule, while releases from escrow follow inspected construction progress, so the two run on separate clocks. The plan was issued for a later release of the collection, and the Capri 1 schedule that applies is the one DAMAC confirms and the SPA records.

No. Although it is due at booking together with the 20% deposit, the 4% DLD registration fee is a payment to the Dubai Land Department and does not enter the escrow account. As an illustration at the listed starting prices, the fee comes to AED 40,000 (approx USD 11K) for a 1 bedroom apartment priced at AED 1,000,000 and AED 70,800 (approx USD 19K) for a 2 bedroom apartment priced at AED 1,770,000. Only purchase-price payments are held in escrow.

The protection runs for as long as construction does. Funds remain in the escrow account and are released only against inspected progress, whatever the calendar shows. 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 until the project completes; it does not compensate for delays, and delay terms sit in the Sales and Purchase Agreement.

No. Every off-plan payment for Capri 1 belongs in the DLD-registered escrow account 0190*****175 at Mashreq Bank (the full number sits in the Escrow Details section above), matching the escrow details in the Sales and Purchase Agreement. A request to route money to a personal account, a broker's account or a different company account, particularly one sweetened with a discount for paying outside escrow, follows the standard pattern of payment-diversion fraud, however official the paperwork appears. Any such request is compared with the Dubai REST escrow record and the SPA before funds move.

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 safety net covers only money paid into the registered account; payments sent anywhere else fall outside it. With 8.18% recorded on 22 September 2026, Capri 1 is at an early stage, which is when this mechanism carries the most weight. The wider regulatory framework for off-plan projects is explained in the Dubai Land Department guide.

The Dubai Land Department register lists DAMAC MRY Investment L.L.C, developer number 1866, as the registered developer of Capri 1 (project 3663), which is marketed under the DAMAC Properties name. The selling entity for a specific unit is the one named in its Sales and Purchase Agreement.

Yes. Part of the money remains in the escrow account beyond completion as cover for defect repairs, on terms set by the escrow framework and the SPA. With handover expected in Q1 2029, that retention sits at the far end of the Capri 1 payment journey, after the 20% completion payment.

The Capri 1 registration's own record runs from DLD registration on 16 May 2025 to a construction start on 11 August 2025 and a register reading of 8.18% recorded on 22 September 2026, with Mashreq Bank PSC named as the trust account bank. At company level, DAMAC's own DAMAC Riverside Views materials state that DAMAC has operated since 2002, with 47,600+ units delivered and 40,000+ units in progress as of June 2024, across more than 10 cities. Those are company-wide figures, not a delivery record for Capri 1 or for DAMAC Riverside.

Escrow protects the capital paid into the registered account. It does not compensate for delays, it does not protect against changes in market value or a future resale price, and it does not cover money paid to any other account. The 4% DLD registration fee is not held in escrow, and finishing quality and defects are handled through the post-completion retention and the SPA rather than through the escrow balance itself.