Indigo 2 DAMAC Riverside Views Escrow Account

Mashreq Bank PSC holds the escrow account for Indigo 2, account number 0190*****182 (shown in full in the Escrow Details section above). The account is recorded against DLD project number 3666, "Damac Riverside Views - Indigo 2", which the Dubai Land Department registered on 11 May 2025.

Buyer payments for Indigo 2 are held in the Mashreq Bank escrow account, kept apart from DAMAC's own operating accounts. The bank releases funds to the developer in stages, against construction progress recorded through Dubai Land Department inspections, so money paid by buyers moves to DAMAC only as the building is inspected on site. The account is supervised by the Dubai Land Department throughout.

The DLD register recorded 12% progress for Indigo 2 at the inspection of 30 September 2026, up from a previous reading of 5.61% (the register does not date that reading), with the main contract progressing. Releases from escrow are tied to inspected progress, so at 12% the larger part of the construction value has not yet been inspected and released to the developer. Each new reading is tracked on the Indigo 2 DAMAC Riverside Views construction updates page.

Indigo 2 buyers on DAMAC's regular plan for this release pay 20% on booking, 60% across 40 instalments timed by months from booking (most of 1% and four of 6%) and 20% on completion, expected in Q1 2029. The deposit, the instalments and the completion payment are all paid into the escrow account. Instalment dates follow the calendar in the SPA, while releases from escrow to DAMAC follow inspected progress, so the two schedules run separately. The plan is DAMAC's regular payment plan for the release that includes Indigo 2, and the schedule that applies to a given unit is the one in its SPA.

No. The 4% DLD registration fee goes to the Dubai Land Department at booking, alongside the 20% deposit, and never enters the escrow account. At the listed starting prices it comes to AED 37,880 (approx USD 10K) on a 1 Bedroom Apartment at AED 947,000 and AED 59,720 (approx USD 16K) on a 2 Bedroom Apartment at AED 1,493,000.

Yes. The money remains in escrow, and the bank keeps releasing it only as inspections record progress, however long the build runs. The DLD record lists a registered completion date of 31 March 2029, in line with the expected Q1 2029 handover; the contractual completion date is the one in the SPA. Escrow protects the capital while the building is completed, but it does not itself compensate for delays; any delay terms sit in the Sales and Purchase Agreement.

No. All off-plan payments for Indigo 2 belong in the DLD-registered escrow account 0190*****182 at Mashreq Bank (the full number sits in the Escrow Details section above), as recorded in the Sales and Purchase Agreement. A request to pay a personal account, an agent's account or a different company account, particularly one offered with a discount for paying directly, matches the usual pattern of payment fraud, however official the paperwork appears. Such a request can be checked against the escrow account shown in Dubai REST and in the SPA before any 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 covers money paid into the registered account; payments sent anywhere else fall outside it. With 12% recorded on 30 September 2026, Indigo 2 is in early-stage construction, the stage at which paying only into the registered account carries the most weight. The wider framework is explained in the Dubai Land Department guide.

The Dubai Land Department register and the September 2026 inspection report list DAMAC MRY Investment L.L.C, developer number 1866, as the registered developer of project 3666, while the building is marketed under the DAMAC Properties name. The Mashreq Bank escrow account is tied to that registered project. The selling entity for a particular unit is the one named in its Sales and Purchase Agreement.

Yes. The escrow framework provides for a retention portion to remain in the account after completion, on terms set by that framework and the SPA, which gives the developer a financial reason to put right defects reported at handover. The amount and period that apply are fixed by the SPA and the escrow arrangements for project 3666.

The register record for Indigo 2 shows registration with the Dubai Land Department as project 3666 on 11 May 2025, a construction start on 11 August 2025 and a DLD register reading of 12% on 30 September 2026, with Mashreq Bank PSC named as the trust bank in the September 2026 inspection report. At company level, DAMAC's own DAMAC Riverside Views materials state 47,600+ units delivered and 40,000+ units in progress as of June 2024, across more than 10 cities. Those figures describe DAMAC as a whole, not a delivery record for Indigo 2.

The escrow account protects buyer payments made into it and controls when they reach the developer. It does not cover money sent to any other account, it does not compensate for delays, and it does not set the specification, finishes or completion date of an apartment; those are governed by the Sales and Purchase Agreement. The 4% DLD registration fee also sits outside it, because that fee goes to the Dubai Land Department.