Ivy at DAMAC Riverside Escrow Account

First Abu Dhabi Bank P.J.S.C. holds the escrow account for Ivy at DAMAC Riverside, account number 4031*****3895003 (the full number is shown in the Escrow Details section of this page). The account sits under DLD project number 3170, registered on 22 July 2024, and the RERA report for the 26 August 2026 inspection names the same bank as the trust account bank.

In the Dubai REST app, Services leads to Project Status, where Ivy is listed under project number 3170 as "Damac Riverside - Ivy". The escrow panel for that entry shows the bank and the account number, which are expected to match both this page and the escrow details in the Sales and Purchase Agreement. Where any other source differs from the app, the Dubai REST record is the reference.

Ivy is sold on a 20/55/25 plan. The 20 percent down payment and the 55 percent payable during construction go into the project escrow account according to the schedule in the Sales and Purchase Agreement, and the bank releases funds to DAMAC only as DLD inspections record progress on site. The final 25 percent is due on completion and handover, expected in Q4 2027.

No. The 4% DLD registration fee is paid on the booking date alongside the 20 percent down payment, but it goes to the Dubai Land Department to register the purchase, not into the project escrow account. On a 4 Bedroom Townhouse listed from AED 2.55M, the fee comes to AED 102,000 (approx USD 28K).

No. Every off-plan payment toward an Ivy townhouse belongs in the DLD-registered escrow account 4031*****3895003 at First Abu Dhabi Bank (the full number is shown in the Escrow Details section of this page), as recorded in the Sales and Purchase Agreement. A request to pay a personal account, an agent's account or any other company account, particularly one sweetened with a discount for paying outside escrow, fits the typical pattern of payment fraud however official it looks. Money sent to any other account sits outside escrow protection.

The DLD register reading recorded on 26 August 2026 puts Ivy at 38.13 percent, up from a previous reading of 21.44 percent that the register shows without a date. Under the escrow framework, releases to the developer follow progress recorded by DLD inspections rather than the calendar, so at this reading most of the build, and the releases linked to it, still lie ahead. Inspection history for the project is tracked on the Ivy at DAMAC Riverside construction updates page.

The protection stays in place. Money paid into the escrow account remains there and continues to be released only against recorded construction progress, whatever the calendar says. Escrow protects capital while the project is completed; it does not itself compensate buyers for a later handover, and any delay terms sit in the Sales and Purchase Agreement. The expected handover for Ivy is Q4 2027.

If the Dubai Land Department cancels a registered project, RERA takes control of the escrow account, and refunds to buyers are then paid out of the protected funds under DLD supervision. That protection reaches only money paid into the registered account, so payments sent anywhere else fall outside it. How the DLD regulates off-plan escrow across Dubai is covered in the Dubai Land Department guide.

The RERA report for the 26 August 2026 inspection lists DAMAC MRY INVESTMENT L.L.C as the developer of project 3170, the registered entity for Ivy, which is marketed under the DAMAC Properties name. The developer number on the register is shown in the Escrow Details section of this page.

Yes. Under the escrow framework a retention portion of the funds is held in the account after completion to cover the repair of defects that surface once owners take possession. The amount and the release timing follow the escrow regulations and the terms of the Sales and Purchase Agreement.

The escrow account protects money paid into it for the construction of the project. It does not hold the 4% DLD registration fee, which goes to the Dubai Land Department; it does not protect payments sent to any other account; and it does not compensate for a later handover, whose terms sit in the Sales and Purchase Agreement. It also gives no assurance about the future market value of a townhouse.