Marine 3 at DAMAC Riverside Views Escrow Account

The Marine 3 escrow account is held by First Abu Dhabi Bank P.J.S.C. as account 4031*****3895014 (the complete number is in the Escrow Details section above), under DLD project number 3374, registered on 20 November 2024 as Damac Riverside Views - Marine 3.

Under the DAMAC Riverside Views regular payment plan, the 20% booking deposit, the 60% spread across 40 instalments scheduled by months from booking, and the final 20% on completion are all paid into the escrow account. The instalments fall due by date, while releases from the account to the developer follow construction progress recorded through DLD inspections. The binding schedule for each unit is the one set out in its Sales and Purchase Agreement.

The DLD register reading recorded on 26 August 2026 shows 18.22% progress, up from a previous reading of 9.82% (the register does not date that reading), with the main contract progressing. Releases to the developer are tied to recorded progress, so at this early stage most of the building's construction value is still to be recorded on site, and buyer money paid ahead of that progress remains subject to the escrow rules. Each new reading is tracked on the Marine 3 construction updates page.

No. The 4% DLD registration fee is paid at booking alongside the 20% deposit, but it goes to the Dubai Land Department as a government registration fee, not into the Marine 3 escrow account. On a 1 bedroom apartment at AED 880,000 the fee comes to AED 35,200, and on a 2 bedroom apartment at AED 1,315,000 it comes to AED 52,600.

Yes. Money held for Marine 3 stays in the escrow account, and releases to the developer remain tied to recorded construction progress, whatever the calendar says. The handover communicated for Marine 3 is Q1 2029, while the registered completion date on the DLD record, 31 May 2028, is the developer's filing; buyers confirm the date that applies to them in the SPA. Escrow protects capital while the building is completed, but it does not itself compensate for delay: any delay terms sit in the Sales and Purchase Agreement.

No. Off-plan payments for Marine 3 belong only in DLD-registered escrow account 4031*****3895014 at First Abu Dhabi Bank, the account named in the Sales and Purchase Agreement, with the complete number given in the Escrow Details section above. Instructions to pay a personal account, an agent, or any company account other than the escrow account, often sweetened with a discount for paying direct, are the standard signature of payment fraud, regardless of how official the documents look. The safeguard is to compare any such instruction with the escrow account shown in Dubai REST and in the SPA before money moves.

Where a registered project is cancelled by the Dubai Land Department, RERA takes control of the escrow account, and refunds owed to buyers are paid from the money held there under DLD supervision. That protection reaches only money paid into the registered account; funds sent anywhere else fall outside it. Marine 3 is in early-stage construction, with 18.22% progress recorded on 26 August 2026, which is the stage at which this safety net carries the most weight. The wider regulatory framework is covered in the Dubai Land Department guide.

The Dubai Land Department record for project 3374 lists DAMAC MRY Investment L.L.C, developer number 1866, as the registered developer of Marine 3. The building itself is marketed by DAMAC Properties as part of DAMAC Riverside Views.

The Dubai REST app holds the record under Services, then Project Status. Searching project number 3374 or the register name Damac Riverside Views - Marine 3 opens the project, and its Escrow panel lists First Abu Dhabi Bank P.J.S.C. together with the account number. That number should match the one in the Sales and Purchase Agreement and on any payment instruction, digit for digit.

Escrow protects capital paid into the registered account. It does not compensate for delay, guarantee a resale price or any investment outcome, or protect money sent to any other account, and the 4% DLD registration fee is paid to the Dubai Land Department rather than held in escrow. A retention portion stays in the account after completion to cover defect repairs, while the finish and condition of each apartment at handover are governed by the terms of the SPA.

DAMAC's own DAMAC Riverside Views materials state 47,600+ units delivered and 40,000+ units in progress as of June 2024, and describe the company as active in the Middle East's luxury real estate market since 2002. These are company-wide figures, not a delivery record for Marine 3 or for DAMAC Riverside. For Marine 3 itself, the DLD record shows registration on 20 November 2024, a construction start on 29 January 2025 and 18.22% progress recorded on 26 August 2026.