Lush at DAMAC Riverside Escrow Account

Emirates NBD Bank (P.J.S.C) holds the escrow account for Lush at DAMAC Riverside, account number 0205*****6302 (the complete number appears in the Escrow Details section above). It is the trust account recorded for DLD project number 3169, which entered the Dubai Land Department register on 17 July 2024.

Lush follows DAMAC's published 20 / 55 / 25 plan. The 20 percent down payment and the 55 percent paid during construction, on the dates set out in the Sales and Purchase Agreement, are paid into escrow before anything else happens to them. Money leaves the account for the developer only against construction progress recorded by Dubai Land Department inspections, and the remaining 25 percent is due on handover, expected in Q4 2027.

The Dubai Land Department register recorded 41.69 percent progress for Lush on 26 August 2026, up from a previous inspection reading of 25.76 percent. Because releases from escrow follow recorded progress, the share of construction-linked funds that can reach the developer grows only as later inspections record further work. At this reading the structure is at an advanced stage, while finishing works are at an early stage. The full reading history is tracked on the Lush construction updates page.

No. The 4% DLD registration fee goes to the Dubai Land Department at the time of purchase, alongside the 20 percent down payment, and it is not held in the project escrow account. Only payments toward the purchase price itself, under the payment plan in the Sales and Purchase Agreement, go into escrow.

No. Each off-plan instalment for a Lush townhouse belongs in the DLD-registered escrow account 0205*****6302 at Emirates NBD (the complete number appears in the Escrow Details section above), as recorded in the Sales and Purchase Agreement. A request to pay into a personal account, an agent's account or a different company account, particularly one offering a discount for paying outside escrow, matches the usual pattern of payment fraud however official it appears. Such a request is checked against the escrow record for project 3169 in Dubai REST and against the Sales and Purchase Agreement before any money moves.

The protection stays in place. Money already in the escrow account remains there and continues to be released only against recorded construction progress, whatever the calendar says. Escrow protects buyer capital while the project is completed; it does not compensate buyers for delays, and any delay terms sit in the Sales and Purchase Agreement. DAMAC's handover date for Lush is Q4 2027; on the DLD record, the registered completion date is 31 December 2027.

When a registered project is cancelled by the Dubai Land Department, RERA takes control of the escrow account and refunds to buyers are handled from the protected funds under DLD supervision. That protection covers money paid into the registered account; money sent anywhere else falls outside it. The regulatory framework for this protection is covered in the Dubai Land Department guide.

Lush is presented to buyers as a DAMAC Properties project, and the Dubai Land Department register lists DAMAC MRY INVESTMENT L.L.C, developer number 1866, as the developer for project 3169. The Emirates NBD escrow account is held for that registered project, and the developer named in a buyer's Sales and Purchase Agreement can be compared with this register entry.

Escrow protects money paid into the registered account and controls when it reaches the developer. It does not guarantee a resale price or rental income, it does not compensate for changes to the handover date, and it does not cover money sent to any account other than the registered one. The 4% DLD registration fee is a Dubai Land Department charge rather than an escrow payment, and contractual terms such as specifications and handover conditions are governed by the Sales and Purchase Agreement.

Under the escrow framework, a retention portion of the project funds stays in the escrow account after completion instead of being released immediately, to cover the repair of defects that come to light after handover. The amount and duration of the retention are set by the applicable rules and the project's escrow arrangements, and the buyer's own obligations at handover, including the 25 percent final payment, are set out in the Sales and Purchase Agreement.

In the Dubai REST app, the Project Status service lists Lush as project number 3169 under the register name "Damac Riverside - Lush". The project's escrow panel shows the trust bank and the account number, which can be compared with the Escrow Details section of this page and with the Sales and Purchase Agreement before each transfer. The same record shows the latest inspection reading, which was 41.69 percent at 26 August 2026 when this page was prepared.