ELO at DAMAC Hills 2 Escrow Account

Emirates NBD Bank (P.J.S.C.) holds the escrow account for ELO, account number 0205*****3322 (shown in full in the Escrow Details section above), opened under DLD project number 2995 when the project was registered in June 2024.

The entity registered with the Dubai Land Department for ELO is Front Line Investment Management L.L.C, developer number 1021, while the building is marketed under the DAMAC brand. Both names refer to the same project. Payment instructions and escrow records for ELO reflect the registered entity, and the account number remains the decisive check on any payment request.

ELO's 70/30 plan means the 20 percent booking deposit and the 50 percent of construction instalments and milestone payments all land in the escrow account first. Emirates NBD releases funds to the developer only against construction stages certified by Dubai Land Department inspections, and the final 30 percent falls due on completion, expected in Q4 2026.

The inspection dated 15 April 2026 certified 21.5 percent completion, up from 13.44 percent at the previous inspection. Enabling and foundation works were recorded as substantially complete, structural works were progressing at different stages, and mechanical, electrical and plumbing works were at an early stage. Inspection-by-inspection detail is tracked on the ELO construction updates page.

No. The 4 percent Dubai Land Department registration fee for an ELO purchase is payable in addition to the initial deposit and sits outside the escrow account entirely. It is a government registration charge rather than part of the project funds, so it is neither held in escrow nor released against construction progress.

No. Every off-plan payment for ELO must go into the DLD-registered escrow account 0205*****3322 at Emirates NBD (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 standard pattern of payment-diversion 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 any funds are sent.

The escrow protection continues regardless of the calendar. Funds stay in the account and are released only against certified progress, and a retention portion is held back beyond completion to cover defect rectification. Escrow protects capital while a project is built. It does not itself compensate for delay, and any compensation terms sit in the Sales and Purchase Agreement.

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 the refund mechanism. The wider framework is explained in the Dubai Land Department guide.

Yes, ELO 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. ELO apartments start from AED 685,000 (approx USD 186,500), so entry-level units sit below that threshold and do not qualify on their own. Qualifying routes and how the threshold is assessed are covered in the ELO Golden Visa guide.