Morocco 2 at DAMAC Lagoons Escrow Account

Emirates NBD Bank (P.J.S.C) holds the escrow account for Morocco 2 at DAMAC Lagoons, account number 0205*****7432 (the unmasked number is displayed in the Escrow Details section above). The account is recorded against DLD project number 2690, which the Dubai Land Department registered on 14 July 2023.

The account can be checked in the Dubai REST app under Services, then Project Status, by searching project number 2690 or the register name "Damac Lagoons - Morocco 2". The project is listed under the registered developer Island Oasis Properties, developer number 921, and its Escrow panel shows the bank name and account number that the payment instruction and the Sales and Purchase Agreement should match before each transfer.

Under DAMAC's published launch plan, a Morocco 2 purchase starts with a 20% deposit, followed by eleven 5% instalments due every three months up to month 33 of the sale date, which are set by the calendar, and by three instalments tied to construction milestones: 2% on 70%, 2% on 80% and 1% on 90% completion. Every instalment is paid into the escrow account, and money moves from escrow to the developer only against progress verified by the Dubai Land Department. The schedule that applies to a particular purchase is the one written into its Sales and Purchase Agreement.

The latest reading on the Dubai Land Department project register is 65.34%, recorded at the 17 July 2026 inspection, up from a previous reading of 59.83%. The RERA report from that inspection describes enabling and foundation works as substantially completed and the substructure, superstructure and internal works as progressing at an advanced stage, under the status Main Contract, Progressing. Releases from the escrow account follow verified progress of this kind, and newer readings are tracked on the Morocco 2 at DAMAC Lagoons construction updates page.

No. The 4% DLD fee is paid to the Dubai Land Department in addition to the initial deposit and is not held in the Morocco 2 escrow account. The escrow account receives the instalments toward the purchase price itself, from the 20% deposit through to the 20% completion payment.

DAMAC's published launch plan places the final 20% on completion, and handover is expected in Q4 2026. That payment goes into the project escrow account in the same way as the earlier instalments, on the terms set in the Sales and Purchase Agreement. After completion, a retention portion of the escrow balance is held back to fund the repair of defects identified at handover.

The protection continues. Money held in the escrow account stays there and is released only against progress verified by the Dubai Land Department, whatever the calendar says. Escrow protects capital while the build is finished, but it does not compensate buyers for a later completion date; the terms that apply to a later completion are set out in the Sales and Purchase Agreement. The retention held after completion and the independent defect inspection that pairs with it are covered in the Morocco 2 at DAMAC Lagoons snagging inspection guide.

No. Morocco 2 off-plan payments belong only in the DLD-registered escrow account 0205*****7432 at Emirates NBD (the complete number appears 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, especially one offered with a discount for paying outside escrow, matches the standard pattern of payment fraud however official the documents appear. Money sent outside the registered account falls outside escrow protection, which is why any such request is checked against the Dubai REST record and the agreement before funds move.

RERA takes control of the escrow account if a project is cancelled, and buyer refunds are drawn from the funds held in that account under the supervision of the Dubai Land Department. Money paid anywhere other than the registered Morocco 2 account sits outside that safety net. With 65.34% recorded on the register at the 17 July 2026 inspection, the project is well into construction, and the mechanism exists whatever the stage. How the Dubai Land Department regulates off-plan escrow is covered in the Dubai Land Department guide.

DAMAC's own materials state that the company has been active in the Middle East luxury real estate market since 2002 and had delivered approximately 43,700 homes, with a development portfolio of more than 30,000 at various stages of planning and progress, as of 31 December 2022. Those are group-wide figures. Morocco 2's own record on the DLD register runs from registration on 14 July 2023 and a construction start on 29 August 2023 to a reading of 65.34% at the 17 July 2026 inspection.

The escrow account protects instalments paid toward the purchase price into the registered account at Emirates NBD. It does not cover money sent to any other account, the 4% DLD fee paid to the Dubai Land Department, or agency and service costs outside the price. It does not compensate for a later completion date, which is governed by the Sales and Purchase Agreement, and it does not secure resale value, rental income or the finish quality of a particular villa or townhouse; defects are addressed through the handover inspection and the retention held after completion.