Indigo 1 at DAMAC Riverside Views Escrow Account

Mashreq Bank PSC holds the escrow account for Indigo 1, account number 0190*****180 (shown in full in the Escrow Details section above). It is the trust account recorded against DLD project number 3665, entered in the Dubai Land Department register on 11 May 2025.

In the Dubai REST app, the Project Status service shows project number 3665, recorded as "Damac Riverside Views - Indigo 1", together with an Escrow panel showing the bank and the account number. The panel, the escrow details in the Sales and Purchase Agreement and the payment instruction should match exactly before any transfer; a difference of a single digit is a reason to halt the payment.

Funds paid into the Indigo 1 escrow account stay under Mashreq Bank's control and are released to DAMAC in stages, against construction progress recorded through DLD-supervised inspections. Sales on their own release nothing: a release follows inspected work on the building, which is why the register reading matters more to escrow than the payment calendar does.

The DLD inspection recorded on 30 September 2026 gave a register reading of 12.13 percent, up from a previous reading of 6.19 percent (the register does not date that reading), with the main contract progressing. According to the inspection report on file, the superstructure was at an early stage while foundations and substructure were well advanced and enabling works substantially complete, which places Indigo 1 in the early escrow release phases. Each new reading is tracked on the Indigo 1 construction updates page.

Under the DAMAC Riverside Views regular payment plan, the 20 percent deposit and the 40 instalments that make up 60 percent are paid into the escrow account on dates set by months from booking, not by construction stages, and the remaining 20 percent falls due on completion, expected in Q1 2029. Paying an instalment does not hand it to DAMAC: releases follow inspected progress. The plan was issued for a later release of the collection, so the Indigo 1 schedule that applies is the one confirmed by DAMAC and written into the Sales and Purchase Agreement.

No. The 4% DLD registration fee is paid at booking together with the 20 percent deposit, but it goes to the Dubai Land Department and never enters the Indigo 1 escrow account. At the listed prices it amounts to AED 38,000 (approx USD 10K) for the 1 Bedroom Apartment from AED 950,000 and AED 61,600 (approx USD 17K) for the 2 Bedroom Apartment from AED 1,540,000.

Yes. Money already paid stays in the escrow account and is released only against inspected progress, whatever the calendar says. Handover is expected in Q1 2029, and escrow protects capital while the building is completed; it does not itself compensate buyers for delays, and delay terms sit in the Sales and Purchase Agreement.

No. All off-plan money for Indigo 1 belongs in the DLD-registered escrow account 0190*****180 at Mashreq Bank (the full number sits in the Escrow Details section above), as recorded in the Sales and Purchase Agreement. A request to route money into a personal account, an agent's own account or some other company account, particularly one offering a discount for paying outside escrow, fits the usual pattern of payment fraud however official it looks. Any such request can be tested against the Dubai REST escrow record and the SPA before money moves.

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. That protection reaches only money held inside the registered account, so payments made to any other account fall outside it. How the DLD supervises registered projects more broadly is covered in the Dubai Land Department guide.

The DLD record lists DAMAC MRY Investment L.L.C, developer number 1866, as the registered developer of project 3665. Indigo 1 is marketed by DAMAC Properties as part of DAMAC Riverside Views; the registered entity is the name that appears in the register and on the inspection report.

Yes. A retention portion stays in the escrow account after completion to cover defect repairs, on terms set by the escrow framework and the Sales and Purchase Agreement. It keeps some project money under bank control during the period when owners inspect finished apartments and report defects.

Escrow protects the capital paid into the registered account. It does not guarantee a handover date, compensate for delays, cover payments sent to any other account, or fix the price, specification or resale value of an apartment. Delay terms, specifications and handover conditions sit in the Sales and Purchase Agreement, and the 4% DLD registration fee sits outside escrow altogether.