Marine 2 at DAMAC Riverside Views Escrow Account

First Abu Dhabi Bank P.J.S.C. is the escrow bank for Marine 2, account number 4031*****3895011 (the full number is in the Escrow Details section above), recorded against DLD project 3373, which the Dubai Land Department registered on 19 November 2024.

The Dubai REST app lists Marine 2 under project number 3373 with the register name "Damac Riverside Views - Marine 2", reached through Services and then Project Status. The project record carries an Escrow panel that shows the bank name, First Abu Dhabi Bank P.J.S.C., together with the escrow account number, and the same record shows the project status as Active.

Under the DAMAC Riverside Views regular payment plan, the 20% deposit, the 60% paid in 40 instalments scheduled by months from booking, and the 20% due on completion are all paid into the Marine 2 escrow account. The payment dates follow the calendar, while releases from the account to the developer follow construction progress recorded by DLD inspections. DAMAC publishes this as the regular payment plan for DAMAC Riverside Views, and the schedule that applies to a Marine 2 unit is confirmed with DAMAC and in the SPA.

No. The 4% DLD registration fee is paid at booking alongside the 20% deposit, and it goes to the Dubai Land Department rather than into the Marine 2 escrow account. On a 1 bedroom apartment at AED 1.08M the fee comes to AED 43,200 (≈ USD 12K), and on a 2 bedroom apartment at AED 1.68M it comes to AED 67,200 (≈ USD 18K).

The DLD register reading recorded on 16 July 2026 shows 12.02% for Marine 2, up from a previous reading of 6.02% (the register does not date that reading). The Independent Progress Monitoring Report for that inspection lists the progress status as Main Contract - Progressing, with foundation and substructure works at an advanced stage and the superstructure at an early stage. Each reading is tracked on the Marine 2 construction updates page.

Yes. Money paid into the account remains there and leaves it only against construction progress recorded by DLD inspections, whatever the calendar says. Expected handover is Q2 2028 and the registered completion date on the DLD record is 31 May 2028. Escrow protects capital while the building is under construction; it does not itself compensate for delays, and those terms sit in the Sales and Purchase Agreement.

No. Off-plan payments for Marine 2 belong in the DLD-registered escrow account 4031*****3895011 at First Abu Dhabi Bank (the full number is 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 the paperwork appears. The account registered in Dubai REST and the details in the SPA are the reference points against which any such request is tested.

If the Dubai Land Department cancels a registered project, RERA takes control of the escrow account and buyer refunds are processed from the protected funds under DLD supervision. That safety net covers only money paid into the registered account for project 3373; funds sent anywhere else sit outside it. The full framework is covered in the Dubai Land Department guide.

The DLD register lists DAMAC MRY Investment L.L.C, developer number 1866, as the developer of project 3373, the DLD registration for Marine 2 at DAMAC Riverside Views by DAMAC Properties.

Yes. A retention amount stays in the escrow account after completion to cover defect repairs, so part of the money is still held once the completion payment falls due. The size of that retention and the period it is held for are set by the escrow framework and the Sales and Purchase Agreement for Marine 2.

The escrow account protects the capital paid into it. It does not compensate for delays, guarantee a resale price or rental income, or cover money paid into any other account. Delay terms and remedies sit in the Sales and Purchase Agreement, and the value of a Marine 2 apartment depends on the market rather than on the escrow account.