Golf Gate 2 at DAMAC Hills Escrow Account

Dubai Islamic Bank (P.J.S.C.) holds the escrow account for Golf Gate 2 at DAMAC Hills, account number 0015*****497001 (shown in full in the Escrow Details section above), opened under DLD project number 2698 when the project was registered in June 2023.

The entity registered against Golf Gate 2 at the Dubai Land Department is DAMAC Crescent Properties, developer number 954, which is the DAMAC subsidiary holding this project. DAMAC Properties is the brand name used in marketing material. Both refer to the same development, and a search of project number 2698 in Dubai REST returns the registered entity rather than the brand.

Golf Gate 2 is sold on a 20/60/20 plan. The 20 percent booking deposit and the 60 percent construction tranche, paid as roughly 1 percent monthly instalments alongside milestone payments, all enter the escrow account first. The bank releases funds to the developer only against construction stages certified by DLD inspection. The final 20 percent falls due on completion, expected in Q4 2026. The 4 percent Dubai Land Department registration fee is paid separately, on top of the initial deposit, and is not an escrow payment.

The RERA independent progress monitoring report dated 25 March 2026 certified construction at 60.02 percent, up from 43.25 percent at the previous inspection. Structure works were recorded as substantially complete, with internal, external, MEP and finishing works at advanced stages. Inspection by inspection detail is tracked on the Golf Gate 2 construction updates page.

Yes, the protection continues. Funds remain in the escrow account and are released only against certified progress, whatever the calendar says. Escrow safeguards the capital while the project completes; it does not itself pay compensation for a delay, and those terms sit in the Sales and Purchase Agreement. A retention portion also stays in the account after completion, which is what funds the correction of defects raised at handover.

No. Every off-plan payment for Golf Gate 2 must go into the DLD-registered escrow account 0015*****497001 at Dubai Islamic 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 offering a discount for paying directly, is the standard pattern of payment fraud regardless of how convincing 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 DLD supervision. This is the reason paying only into the registered account matters: money sent elsewhere never entered that protection. With 60.02 percent of construction certified and handover set for Q4 2026, Golf Gate 2 is well past the stage where cancellation is a realistic concern, but the mechanism exists regardless. The wider framework is explained in the Dubai Land Department guide.

Yes, Golf Gate 2 at DAMAC Hills is a freehold project, open to all nationalities.

The property investment threshold for the 10-year UAE Golden Visa is AED 2 million (approx USD 545,000). Golf Gate 2 apartments start from AED 818,000 (approx USD 223,000) for a one bedroom and AED 1,472,000 (approx USD 401,000) for a two bedroom, so entry pricing sits below that line and a single apartment at those levels does not on its own meet the threshold. Qualifying options, including combining Dubai property holdings to reach AED 2 million, are set out in the Golf Gate 2 Golden Visa guide.