Monte Carlo at DAMAC Lagoons Escrow Account

The Monte Carlo at DAMAC Lagoons escrow account is held at Emirates NBD Bank (P.J.S.C) under account number 0205*****7421 (revealed in full with the Show button in the Escrow Details section above). The account is attached to DLD project number 2488, registered with the Dubai Land Department on 20 October 2022.

In Dubai REST, under Services and Project Status, the project is listed as "Damac Lagoons - Monte Carlo", project number 2488, with Island Oasis Properties (DLD developer number 921) as the registered developer. Its Escrow panel shows the bank and the account number, and the same two details appear in the escrow section of 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 instalments are tied to construction milestones from 40% to 90% completion of the project. Both kinds are paid into the escrow account. Paying money in and releasing money out are separate events: releases to the developer follow DLD-verified construction progress, whichever type of instalment funded them. The schedule that binds a buyer is the one in the Sales and Purchase Agreement.

The DLD register recorded 86.38 percent for Monte Carlo at the 9 July 2026 inspection, up from a previous reading of 83.09 percent, and the RERA report for that inspection describes superstructure works as substantially completed. Because releases track verified progress, this places the account in its later release stages, with the 20 percent completion payment and the retention held after completion still ahead. The inspection history is tracked on the Monte Carlo construction updates page.

No. The 4% DLD fee is settled with the Dubai Land Department in addition to the 20 percent booking deposit. It is a registration fee rather than a payment toward the townhouse, so it is not held in the Monte Carlo escrow account and is never released to the developer.

The final 20 percent of DAMAC's published launch plan becomes payable when the project completes, against handover guidance of Q4 2026. It is paid into the same escrow account as every earlier instalment, following the completion notice issued under the Sales and Purchase Agreement. Part of the project's funds is retained in escrow beyond completion as cover for defect repairs, so supervision does not end on the day the keys are released.

The protection does not expire on a calendar date. Money already in the escrow account stays there and is released only against progress verified by the Dubai Land Department, however long construction takes. Escrow protects capital; it does not compensate buyers for a later completion, and terms covering that sit in the Sales and Purchase Agreement. Current handover guidance for Monte Carlo is Q4 2026, and any updated registered completion date is shown on Dubai REST. The retention held after completion still applies at handover, and how it pairs with an independent defect inspection is covered in the Monte Carlo snagging inspection guide.

No. Every off-plan payment for Monte Carlo at DAMAC Lagoons belongs in the DLD-registered escrow account 0205*****7421 at Emirates NBD (the complete number is available in the Escrow Details section above), as recorded in the Sales and Purchase Agreement. Instructions to send money to an individual, to an agent, or to any company account other than the registered escrow, especially when bundled with a discount for paying outside it, are the standard shape of payment-diversion fraud, regardless of how authentic the documents appear. The safeguard is a comparison with the Escrow panel for project 2488 in Dubai REST and with the SPA, made before any money leaves the buyer's account.

RERA takes control of the escrow account if a project is cancelled by the Dubai Land Department, and buyer refunds are then handled from the protected funds under DLD supervision. Only money paid into the registered account sits inside that protection; payments made anywhere else do not. Monte Carlo is in its late construction stages, with 86.38 percent on the DLD register at 9 July 2026, but the mechanism applies at every stage. The regulatory framework behind it is covered in the Dubai Land Department guide.

The escrow account protects buyer payments toward construction: it controls when money reaches the developer, not how the finished townhouse is specified or exactly when it is delivered. It does not pay compensation for a later completion, does not hold the 4% DLD fee, does not replace the defect obligations set out in the Sales and Purchase Agreement, and does not protect money sent to any account other than the registered one. Specification, finishes and handover terms are governed by the SPA.