DAMAC District Escrow Account

Mashreq Bank (P.S.C.) holds the escrow account for DAMAC District, account number 0190*****174 (shown in full in the Escrow Details section above), opened under DLD project number 4064 when the project was registered in September 2025.

The project is marketed under the DAMAC brand, but the entity registered against project 4064 with the Dubai Land Department is DAMAC Crescent Properties, developer number 954. That registered name is the one attached to the escrow account and to the contract documentation, and it is the name shown in Dubai REST against the project.

The 20/40/40 launch plan means the 20 percent booking deposit and the monthly construction installments of roughly 1 percent all land in the escrow account first. The bank releases funds to the developer only against construction stages certified by RERA inspection, and the final 40 percent falls due on completion, expected in Q3 2029.

No. The 4 percent Dubai Land Department registration fee is charged on top of the initial deposit rather than carved out of it, and it is collected by the Dubai Land Department itself. It sits outside the escrow account entirely and does not form part of the project funds released against construction progress.

The RERA inspection dated 4 March 2026 certified 0.12 percent completion, up from zero at the previous inspection, with enabling works progressing on site. Construction started on 14 February 2026 and the scheme comprises three towers on one plot, two residential and one commercial. Inspection by inspection detail is tracked on the DAMAC District construction updates page.

The protection continues regardless of the calendar. Funds remain in the escrow account and are released only against certified progress, so a delay does not change how the money is supervised. Escrow protects capital while a project completes; it does not itself compensate for delays, and those terms sit in the Sales and Purchase Agreement.

No. Every off-plan payment for DAMAC District must go into the DLD-registered escrow account 0190*****174 at Mashreq Bank (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 an alternative company account, particularly one paired with a discount for paying directly, is the classic pattern of payment fraud regardless of how 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 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 DLD supervision. This is the reason paying only into the registered account matters: money sent anywhere else sits outside that protection and outside that process. The wider framework is explained in the Dubai Land Department guide.

Yes, DAMAC District at DAMAC Hills is a freehold project, open to all nationalities.

It depends on the tier. The property investment threshold for the 10-year Golden Visa is AED 2 million. One bedroom apartments at DAMAC District start from AED 1.142 million (approx USD 311,000) and two bedroom apartments from AED 1.706 million (approx USD 465,000), so entry-level units sit below the threshold, while office floor plates start from AED 6.095 million (approx USD 1.66 million) and larger two bedroom layouts can reach it. The qualifying routes and application timing are covered in the DAMAC District Golden Visa guide.