Marine 1 at DAMAC Riverside Views Escrow Account

First Abu Dhabi Bank P.J.S.C. (FAB) holds the escrow account for Marine 1, account number 4031*****3895008 (revealed in full under Escrow Details above). The account sits on DLD project number 3372, registered on 19 November 2024 under the name Damac Riverside Views - Marine 1.

The Dubai REST app lists the building under Services, then Project Status, as project number 3372, Damac Riverside Views - Marine 1. Its Escrow panel shows the bank, First Abu Dhabi Bank P.J.S.C., and the account number, which should match the Sales and Purchase Agreement and this page digit for digit. The same record carries the project status, the unit count of 358 and the latest inspection reading.

Under the DAMAC Riverside Views regular payment plan, the 60% due between the deposit and completion is split into 40 instalments scheduled by months from booking, mostly 1% each with four of 6%. Each instalment is paid into the escrow account on its due date. Releases from the account to the developer follow construction progress verified through DLD inspections, not the payment calendar. The schedule that binds a specific Marine 1 unit is the one written into its Sales and Purchase Agreement.

No. The 4% DLD registration fee is paid at booking alongside the 20% deposit, but it goes to the Dubai Land Department to register the purchase, not into the project escrow account. On a 1 Bedroom Apartment at AED 1.10M, the fee comes to AED 44,000 (about USD 12K).

The final 20% falls due on completion, with handover expected in Q2 2028 and a registered completion date of 31 May 2028 on the DLD record. Under the escrow framework, part of the project funds is retained in the account beyond completion for defect repairs, so some money is still held once owners receive their keys.

The DLD record lists DAMAC MRY Investment L.L.C, developer number 1866, as the registered developer of project 3372. Marine 1 is marketed by DAMAC Properties as part of its DAMAC Riverside Views collection, and the escrow account with First Abu Dhabi Bank is tied to that project registration.

No. All off-plan payments for Marine 1 belong in the DLD-registered escrow account 4031*****3895008 at First Abu Dhabi Bank (the full number appears 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-diversion fraud. The reliable reference for any such request is the Escrow panel in Dubai REST together with the Sales and Purchase Agreement.

Yes, the escrow protection continues. Funds paid into the account stay there and are released only against construction progress verified through DLD inspections, whatever the calendar says. Escrow protects capital while the building is completed; it does not compensate buyers for delay, and delay terms sit in the Sales and Purchase Agreement.

Should the Dubai Land Department cancel a registered project, RERA takes control of the escrow account, and refunds to buyers come from the protected funds under DLD supervision. That safety net covers money paid into the registered account; money sent anywhere else falls outside it. The legal framework for it is covered in the Dubai Land Department guide.

The DLD inspection recorded on 16 July 2026 put Marine 1 at 11.8%, up from a previous reading of 6.02% (the register does not date that reading), recorded while the main contract was progressing: foundations and substructure were well advanced and superstructure work had begun at an early stage. At that level, most of the construction-linked releases from the escrow account are still to come, and each depends on progress shown at future inspections. Each new reading is tracked on the Marine 1 construction updates page.

The escrow account protects buyer payments made into it while Marine 1 is built. It does not cover money paid to any other account, the 4% DLD registration fee, compensation for delay, or the future resale or rental value of an apartment. Delay terms and other contractual remedies sit in the Sales and Purchase Agreement.

DAMAC's DAMAC Riverside Views materials state 47,600+ units delivered and 40,000+ units in progress as of June 2024, with activity in the Middle East's luxury property market since 2002 and a presence in more than 10 cities. These are company-wide figures published by DAMAC, not a delivery record for Marine 1 or DAMAC Riverside. Marine 1's own record on the DLD register runs from registration on 19 November 2024 and a construction start on 29 January 2025 to the 11.8% reading recorded on 16 July 2026.