Capri 2 at DAMAC Riverside Views Escrow Account

Mashreq Bank PSC holds the escrow account for Capri 2, account number 0190*****177 (shown in full in the Escrow Details section above). The account is registered against DLD project 3664, "Damac Riverside Views - Capri 2", which the Dubai Land Department registered on 15 May 2025.

Buyer payments for Capri 2 are held in the Mashreq Bank escrow account, apart from DAMAC's own operating accounts. The bank releases funds to the developer in stages linked to construction progress recorded by the Dubai Land Department, so money paid ahead of the works stays in the account until the site reaches the corresponding stage.

The DLD register reading of 8.33%, recorded on 22 September 2026 with the Progress Status Enabling Works - Progressing, is the progress measure against which escrow releases for Capri 2 are assessed. It stands above a previous reading of 4.75%, which the register does not date. A low reading means most of the construction value is still unbuilt, so a large share of the protected funds remains tied to future works. Each new reading is tracked on the Capri 2 construction updates page.

On the regular DAMAC Riverside Views plan, the 20% deposit, the 60% spread over 40 instalments (most of 1% and four of 6%) and the 20% due on completion are all paid into the Capri 2 escrow account. The instalments fall due on dates set by months from booking in the SPA, not on construction milestones, while releases from the account to DAMAC follow recorded progress. The schedule that applies to a specific unit is the one confirmed by DAMAC and set out in its SPA.

No. The 4% DLD registration fee for Capri 2 is paid at booking alongside the 20% deposit, but it goes to the Dubai Land Department and is not held in escrow. At the listed starting prices the fee is AED 38,680 (approx USD 11K) for a 1 Bedroom Apartment priced from AED 967,000 and AED 56,640 (approx USD 15K) for a 2 Bedroom Apartment priced from AED 1,416,000.

Escrowed money for Capri 2 remains with Mashreq Bank, and releases keep following recorded construction progress rather than the calendar. 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 keeps buyer capital ring-fenced while the work continues, but it does not pay compensation for delays; any delay terms sit in the Sales and Purchase Agreement.

No. Every off-plan payment for Capri 2 belongs in the DLD-registered escrow account 0190*****177 at Mashreq Bank (the full number sits in the Escrow Details section above), as recorded in the Sales and Purchase Agreement. A request to pay a personal account, an agent's account or a different company account, particularly one offering a discount for paying outside escrow, matches the usual pattern of payment fraud however genuine the paperwork appears. Such a request can be tested against the escrow account shown in Dubai REST and the escrow details in the SPA before any money moves.

If the Dubai Land Department cancels a registered project, RERA takes control of the escrow account and buyer refunds are handled from the protected funds under DLD supervision. That protection reaches only money paid into the registered account; funds sent anywhere else sit outside it. The wider framework is explained in the Dubai Land Department guide.

The DLD record and the September 2026 inspection report list DAMAC MRY Investment L.L.C, developer number 1866, as the registered developer of project 3664, which is marketed under the DAMAC Properties name. The selling entity for a particular unit is the one named in its Sales and Purchase Agreement.

Part of the escrow balance is typically retained for a period after completion, on terms set by the escrow framework and the Sales and Purchase Agreement, so that defects reported at handover remain backed by funds. The size and duration of that retention for Capri 2 are set by those terms rather than published as a fixed figure.

The register record for Capri 2 shows registration as DLD project 3664 on 15 May 2025, a construction start on 11 August 2025 and a register reading of 8.33% on 22 September 2026, with Mashreq Bank PSC as trust bank. DAMAC's own DAMAC Riverside Views materials state 47,600+ units delivered and 40,000+ units in progress as of June 2024, with operations since 2002 across more than 10 cities; these are company-wide figures, not a delivery record for Capri 2.

The Capri 2 escrow account protects buyer payments made into the registered account. It does not cover money sent to any other account, it does not compensate for delays, and it does not protect against changes in market value or resale prices. Fees paid outside the account, such as the 4% DLD registration fee, are governed by their own rules rather than by escrow.