Golf Greens at DAMAC Hills Escrow Account

Dubai Islamic Bank (Public Joint Stock Company) holds the escrow account for Golf Greens, account number 0015*****732001 (shown in full in the Escrow Details section above), opened under DLD project number 2779 when the project was registered in November 2023.

The entity registered with the Dubai Land Department against project 2779 is DAMAC Crescent Properties, developer number 954, and the project is filed under the registered name Damac Hills - Golf Greens 1. Sales and marketing material generally uses the DAMAC Properties brand and the marketing name Golf Greens. Both refer to the same project, and searching Dubai REST for the registered name or the project number returns the correct record.

The 20/60/20 plan means the booking deposit and all construction instalments land in the escrow account first. Dubai Islamic Bank releases funds to the developer only against construction stages certified by RERA inspection, and the final 20 percent falls due on completion, expected in Q1 2027.

No. The 4 percent Dubai Land Department registration fee is payable in addition to the initial deposit and sits outside the escrow account. It is a government registration charge paid to the DLD rather than a payment toward construction, so it is not held in or released from the project trust account.

The RERA Independent Progress Monitoring Report dated 14 April 2026 certified 31.46 percent completion, up from 17.86 percent at the previous inspection. Inspectors recorded structure, MEP and internal works progressing at different stages, with envelope and finishes at an early stage. Each new certified figure is tracked on the Golf Greens construction updates page.

No. Every off-plan payment for Golf Greens must go into the DLD-registered escrow account 0015*****732001 at Dubai Islamic Bank (the full number sits in the Escrow Details section above), exactly as recorded in the Sales and Purchase Agreement. Any request to send funds to a personal account, an agent's account, or an alternative company account, especially one paired with a discount for paying directly, is the classic pattern of payment fraud, no matter how official the paperwork looks. 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 protection continues. Funds remain in the escrow account and are released only against certified progress, regardless of the calendar, so a slipping date does not move money out of the regulated account any faster. Escrow protects capital while a project completes; it does not itself compensate for delay, and any compensation terms sit in the Sales and Purchase Agreement rather than in the escrow framework. A retention portion also stays in escrow after completion rather than being released at handover.

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 precisely why paying only into the registered account matters: money sent anywhere else sits outside that protection entirely and is not recoverable through this mechanism. The wider framework is explained in the Dubai Land Department guide.

Yes, Golf Greens 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 Greens apartments start from AED 984,000 (approx USD 268,000) for a one bedroom and AED 1.65 million (approx USD 449,000) for a two bedroom, so entry-level apartment pricing sits below the threshold and a single apartment at those prices does not on its own qualify. Qualifying routes, including combined property holdings and larger layouts, are covered in the Golf Greens Golden Visa guide.