Evergreens at DAMAC Hills 2 Escrow Account

Emirates NBD Bank (P.J.S.C) holds the escrow account for Evergreens, account number 0205*****3320 (the full number is in the Escrow Details section above). Dubai REST records the account against DLD project number 3092, which was registered on 23 May 2024.

The Dubai Land Department record and the RERA progress report list Front Line Investment Management L.L.C, developer number 1021, as the registered developer of project 3092, which is marketed under the DAMAC brand as Evergreens at DAMAC Hills 2. That registered name, not the DAMAC brand, is the developer shown when the project is looked up in Dubai REST.

The Project Status service in the Dubai REST app lists Evergreens under project number 3092 with the register name "DAMAC Hills (2) - Evergreens". Its Escrow panel shows the bank, Emirates NBD Bank (P.J.S.C), and the account number, and a valid payment instruction carries the same number as that panel and as the escrow details in the Sales and Purchase Agreement.

The 50% due during construction is paid into the escrow account on the developer's schedule and released to the developer only as construction progress is recorded through RERA inspections. The DLD register showed 26.43% after the inspection dated 5 May 2026, up from 17.19% at the previous inspection, so the release cycle for this share is still running. Each new register reading is tracked on the Evergreens construction updates page.

No. The 4% DLD registration fee, due at booking together with the 20% booking payment, is paid to the Dubai Land Department for registering the sale and does not enter the project escrow account. Only the purchase price instalments of the 20/50/30 plan are paid into escrow.

The final 30% falls due on handover, which DAMAC targets for Q4 2026, and it is paid into the same escrow account as the earlier instalments. After handover a retention portion stays in escrow for a period as cover for defect repairs, so part of the money remains tied to the developer correcting faults recorded at handover.

No. Every off-plan payment for Evergreens belongs in the DLD-registered escrow account 0205*****3320 at Emirates NBD (full number in the Escrow Details section above), the account recorded in the Sales and Purchase Agreement. Instructions pointing anywhere else, whether a personal account, an agent's account or a second company account, are the hallmark of diversion fraud, and a discount offered for bypassing escrow makes the warning sign stronger, not weaker. The account shown in Dubai REST and in the SPA is the only valid destination for these funds.

Yes. The funds remain in the escrow account and continue to be released only against construction progress recorded through RERA inspections, whatever the calendar shows. Escrow protects capital until the building is finished, but it pays no compensation if handover moves past the target; the terms that apply in that case sit in the Sales and Purchase Agreement. The retention portion held after handover applies whenever handover takes place.

If a registered project is cancelled, RERA takes control of the escrow account and refunds to buyers are handled from the protected funds under Dubai Land Department supervision. That protection reaches only money paid into the registered account; funds sent anywhere else sit outside it. A buyer who wants to exit for personal reasons is a separate matter governed by the Sales and Purchase Agreement, not by the escrow account. The wider framework is explained in the Dubai Land Department guide.

The escrow account protects buyer capital paid toward the purchase price; it is not insurance against every risk. It does not hold the 4% DLD registration fee, it cannot protect money sent to any account other than the registered one, and it pays no compensation if handover moves past the target date. Finishes and specification are governed by the Sales and Purchase Agreement and checked at handover, not by the escrow account.