Ivory at DAMAC Hills Escrow Account

Abu Dhabi Commercial Bank (ADCB) holds the escrow account for Ivory, account number 4655*****042 (the full number appears in the Escrow Details section above). The account sits under DLD project number 3706, which the Dubai Land Department registered on 3 July 2025 under the name DAMAC Hills - Ivory.

No. Off-plan payments for Ivory belong in the DLD-registered escrow account 4655*****042 at ADCB (the complete number is in the Escrow Details section above), as written into the Sale and Purchase Agreement. A request to pay into a personal account, a broker's account or a different company account, particularly one sweetened with a discount for paying outside escrow, follows the usual pattern of payment-diversion fraud, however genuine the documents appear. The reliable reference for any such request is the Escrow panel for project 3706 in Dubai REST, read together with the SPA.

In the Dubai REST app, the Project Status service lists the project under number 3706 as DAMAC Hills - Ivory, with Status Active and DAMAC Crescent Properties, developer number 954, as the registered developer. Its Escrow panel shows Abu Dhabi Commercial Bank as the bank together with the account number, which should agree with both this page and the escrow details in the buyer's Sale and Purchase Agreement.

The 55% construction share is paid across eight instalments on the schedule set in the Sale and Purchase Agreement, and every instalment lands in the escrow account first. Paying an instalment and DAMAC receiving the money are separate events: the bank releases funds to the developer only against construction progress verified through DLD inspections. The DLD register reading dated 29 June 2026 is 0.56%, and the RERA report of that date records the project as Pre-Construction, Progressing. Inspection-by-inspection detail is tracked on the Ivory construction updates page.

No. The 4% DLD registration fee goes to the Dubai Land Department when the home is booked, alongside the 20% booking payment, and it is not held in the Ivory escrow account. It is a government fee for registering the sale, so it is never released to DAMAC and sits outside the 20/55/25 plan.

The final 25% falls due on handover, expected in Q2 2028, and like the earlier payments it is made into the project escrow account rather than to the developer directly. Once building ends, part of the escrow balance is retained as cover for defect repairs, with the exact terms set by the DLD framework and the Sale and Purchase Agreement.

Yes, the protection does not expire with the calendar. Funds held in escrow stay there and continue to be released only against verified progress, whatever the date. Escrow protects capital while the project is being built; it does not compensate buyers for a later handover, and any terms for late completion sit in the Sale and Purchase Agreement. The DLD register records a registered completion date of 30 June 2028, inside the Q2 2028 window.

RERA takes control of the escrow account if a project is cancelled, and refunds to buyers are then handled from the protected balance under the supervision of the Dubai Land Department. That safeguard reaches only money paid into the registered account; funds sent to any other account fall outside it. Ivory is at an early stage, with a DLD register reading of 0.56% at 29 June 2026, so the account details carry weight at every instalment still to be paid. The wider regulatory framework for off-plan escrow is set out in the Dubai Land Department guide.

The escrow account protects payments made into it until the work they fund has been verified. It does not cover money sent to any other account, it does not hold the 4% DLD registration fee, and it does not compensate buyers for a later handover or protect resale value or rental income. Escrow protects capital, not returns; delivery and late-completion terms sit in the Sale and Purchase Agreement.