Marbella at DAMAC Lagoons Escrow Account

Emirates NBD Bank (P.J.S.C) holds the escrow account for Marbella at DAMAC Lagoons, account number 0205*****7423 (shown in full in the Escrow Details section above), recorded against DLD project number 2489, which was registered on 20 October 2022.

The project appears in the Dubai REST app under Services, then Project Status, as project number 2489 with the register name "Damac Lagoons - Marbella". The record lists Island Oasis Properties (developer number 921) as the registered developer rather than the DAMAC brand name, and its Escrow panel shows the bank and the full account number for comparison with the Sales and Purchase Agreement.

Under DAMAC's published launch payment plan, four 5% instalments fall within 3, 6, 9 and 12 months of the sale date, and six are linked to construction stages: 10% each at 40% and 50% completion, then 5% each at 60%, 70%, 80% and 90%. Both kinds are paid into the escrow account, and funds are released to the developer only as the Dubai Land Department records construction progress. The schedule that applies to a specific purchase is the one in its Sales and Purchase Agreement.

No. The 4% DLD fee is paid to the Dubai Land Department to register the purchase, in addition to the 20% deposit, and it does not pass through the escrow account. It is a registration cost, not part of the purchase price held for construction.

The launch payment plan places the final 20% on completion, and handover is expected in Q4 2026. The exact trigger and the account details for that payment are set out in the Sales and Purchase Agreement, and the account named there matches the escrow account recorded for project 2489 in Dubai REST. Part of the escrow balance is held back after completion as a reserve for defect repairs.

The DLD register recorded 87.32% for Marbella on 30 September 2026, up from a previous, undated reading of 84.53%. Escrow funds are released to the developer only against recorded progress, so at this stage the open escrow events are the final construction-stage releases, the 20% completion payment and the post-completion retention. Reading-by-reading detail is tracked on the Marbella at DAMAC Lagoons construction updates page.

Yes. A later completion date does not move money out of escrow: funds are still released only against recorded progress, whatever the calendar says. Escrow protects capital while the project completes but does not compensate for a later handover; any delay terms sit in the Sales and Purchase Agreement. A retention portion is held after completion for defect repairs, which is why the Marbella at DAMAC Lagoons snagging inspection before acceptance carries financial weight.

No. Every instalment toward the purchase price of a Marbella townhouse goes into the DLD-registered escrow account 0205*****7423 at Emirates NBD (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 offering a discount for paying outside escrow, matches the usual pattern of payment fraud however official it looks. The safeguard against it is a comparison with the Escrow panel for project 2489 in Dubai REST and with the SPA, made before any money moves.

RERA takes control of the escrow account if a project is cancelled, and buyer refunds are handled from the funds held in it, supervised by the Dubai Land Department. Money paid into any other account sits outside that protection. With 87.32% recorded on the DLD register on 30 September 2026, cancellation is a remote scenario for Marbella, yet the safeguard applies regardless. How the DLD oversees escrow across the market is covered in the Dubai Land Department guide.

The escrow account protects the purchase price paid into it. 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, since delay terms sit in the Sales and Purchase Agreement. It is also not a quality guarantee: the post-completion retention supports defect repairs, while identifying those defects is the purpose of the handover inspection.

DAMAC's own Marbella brochure states that the company has been active in the Middle East luxury real estate market since 2002 and had delivered approximately 42,000 homes, with more than 28,000 at various stages of planning and progress, as of 30 June 2022. Marbella itself was registered with the DLD on 20 October 2022, started construction on 12 February 2023 and reached a DLD register reading of 87.32% on 30 September 2026. The company's history and portfolio are covered on the DAMAC developer profile.