Cuba at DAMAC Islands 2 Escrow Account

Mashreq Bank PSC holds the escrow account for Cuba at DAMAC Islands 2, account number 0190*****764 (shown in full in the Escrow Details section above), opened under DLD project number 4292 when the project was registered with the Dubai Land Department on 23 December 2025.

The plan is 20 percent on booking plus the 4 percent DLD registration fee, 55 percent spread across 47 monthly instalments during construction, and 25 percent on completion. Each of those payments goes into the project escrow account at Mashreq Bank PSC rather than to the developer, and the bank releases funds only against construction certified by DLD inspections. The final 25 percent falls due at completion, expected in Q2 2030.

The DLD inspection dated 10 June 2026 certified 0.18 percent completion, up from 0 percent at the previous inspection, with the RERA progress indicator recording enabling works in progress: site mobilisation under way and grading at an early stage. Month by month inspection detail is tracked on the Cuba at DAMAC Islands 2 construction updates page.

The protection is the same at every stage, but its practical effect is largest early. With 0.18 percent certified at the 10 June 2026 inspection, the great majority of what buyers have paid into account 0190*****764 remains held by Mashreq Bank PSC rather than released, because releases follow certified progress rather than the sales calendar. The exposure on an early stage purchase sits in the length of the build to a Q2 2030 completion, not in whether the instalments are supervised.

The protection continues regardless of the schedule. Funds stay in the escrow account and are released only against certified progress, so a slipped date does not move money to the developer any faster. Escrow protects the capital while the project completes; it does not itself compensate for delay, and any compensation terms sit in the Sales and Purchase Agreement.

No. Every off plan payment for Cuba at DAMAC Islands 2 belongs in the DLD-registered escrow account 0190*****764 at Mashreq Bank PSC (the 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 should be checked against the escrow account registered in Dubai REST and the details in the Sales and Purchase Agreement before any funds are sent.

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 Dubai Land Department supervision. That mechanism reaches only money that actually entered the registered account, which is why payments made anywhere else sit outside the protection entirely. The wider framework is explained in the Dubai Land Department guide.

Yes, Cuba at DAMAC Islands 2 is a freehold project, open to all nationalities, with title registered at the Dubai Land Department in the buyer's name. Layouts, plot sizes and pricing across the cluster are set out in the Cuba at DAMAC Islands 2 project guide.

Prices at Cuba at DAMAC Islands 2 start from AED 2.75 million (approx USD 749,000) for a 4 bedroom townhouse, which is above the AED 2 million property investment threshold for the 10 year Golden Visa. The requirements, documents and application timing are covered in the Cuba at DAMAC Islands 2 Golden Visa guide.