Elo 2 & Elo 3 at DAMAC Hills 2 Escrow Account

Emirates NBD Bank (P.J.S.C.) holds the escrow account for Elo 2 & Elo 3 at DAMAC Hills 2, account number 0205*****3324 (shown in full in the Escrow Details section above), opened under DLD project number 3122 when the project was registered with the Dubai Land Department on 1 August 2024.

Elo 2 & Elo 3 sell on an 80/20 plan: 20 percent on booking, 60 percent across monthly instalments running to month 34 of the sale date plus 5 percent at 80 percent building completion and 5 percent at 90 percent, and the final 20 percent on completion. The 4 percent DLD registration fee is paid in addition to the initial deposit. Every one of those payments is made into the project escrow account, and the bank releases funds to the developer only against construction stages certified by DLD inspections.

The DLD inspection dated 15 April 2026 certified 6.36 percent of construction complete, up from 1.46 percent at the previous inspection. The independent monitoring report for that inspection records enabling works and the rafts for both towers progressing at an advanced stage, common areas at an early stage, and the main contract as progressing. Inspection by inspection detail is tracked on the Elo 2 & Elo 3 construction updates page.

The Dubai Land Department registers each project under the licensed developer entity that holds it, and that name can differ from the brand used in marketing. For Elo 2 & Elo 3 the registered entity is Front Line Investment Management L.L.C under developer number 1021, which is the name printed on the RERA progress monitoring reports for project number 3122. Seeing that name in Dubai REST rather than the DAMAC branding is expected and is not in itself a sign of anything irregular, while the escrow account number and the bank remain the details that must match before any transfer.

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

No. Every off-plan payment for Elo 2 & Elo 3 belongs in the DLD-registered escrow account 0205*****3324 at Emirates NBD Bank (P.J.S.C.), with the full number shown in the Escrow Details section above and 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 outside the plan, is 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 against 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 is the reason paying only into the registered account matters: funds sent anywhere else sit outside the protected pool and outside that process. The wider regulatory framework is explained in the Dubai Land Department guide.

Yes, Elo 2 & Elo 3 at DAMAC Hills 2 is a freehold project, open to all nationalities.

The property investment threshold for the 10-year Golden Visa is AED 2 million. Entry apartments at Elo 2 & Elo 3 sit below it, starting from AED 577,000 (approx USD 157,000) for a one bedroom and AED 855,000 (approx USD 233,000) for a two bedroom, so a single entry-level purchase here does not by itself reach the threshold. Qualifying routes and combined-holding rules are covered in the Elo 2 & Elo 3 Golden Visa guide.