Morocco at DAMAC Lagoons Escrow Account

Emirates NBD Bank (P.J.S.C) holds the escrow account for Morocco at DAMAC Lagoons, account number 0205*****7430 (the full number is in the Escrow Details section above). The account sits under DLD project number 2689, which entered the Dubai Land Department register on 14 July 2023.

The Project Status service in the Dubai REST app lists the cluster under project number 2689 and the register name "Damac Lagoons - Morocco 1", with Island Oasis Properties (developer number 921) as the registered developer. The Escrow panel on that record shows the bank as Emirates NBD Bank (P.J.S.C) together with the account number, which should match both this page and the Sales and Purchase Agreement.

Under DAMAC's published launch plan, eleven 5 percent instalments are timed from the sale date (every three months to month 33) and three smaller instalments of 2, 2 and 1 percent are tied to 70, 80 and 90 percent completion. Both kinds are paid into the escrow account. Releases from the account to the developer follow DLD-verified construction progress, so the timing of a buyer's instalment does not decide when the developer can draw the money. The schedule that applies to a specific purchase is the one in its SPA.

The DLD inspection report dated 17 July 2026 records 76.94 percent on the register for project 2689, up from 68.17 percent at the previous inspection, whose date the register does not show. The RERA report from that inspection describes the superstructure as substantially completed, with internal, MEP and external envelope works at advanced stages. At this stage the account is moving toward its final releases, which depend on the remaining finishes, external works and infrastructure being verified on site. Inspection detail is tracked on the Morocco at DAMAC Lagoons construction updates page.

No. The 4 percent DLD fee is paid to the Dubai Land Department to register the purchase under Oqood, in addition to the 20 percent deposit, and it is not held in the project escrow account. Only payments toward the purchase price of the home go into escrow.

The final 20 percent of the price falls due on completion, with handover expected in Q4 2026, and it is paid into the project escrow account like every earlier instalment, on the terms set out in the Sales and Purchase Agreement. After completion, part of the project funds is retained in escrow against defects, which gives a handover inspection real weight.

The protection does not depend on the calendar. Money already paid stays in the escrow account and continues to be released only against DLD-verified progress, whatever date handover finally takes. Escrow protects capital rather than compensating for lateness; any compensation terms sit in the Sales and Purchase Agreement. The retention held after completion and the inspection at handover apply whenever that handover happens, as explained in the Morocco at DAMAC Lagoons snagging inspection guide.

No. Every off-plan payment toward a Morocco at DAMAC Lagoons home belongs in the DLD-registered escrow account 0205*****7430 at Emirates NBD (the full number is in the Escrow Details section above), as recorded in the Sales and Purchase Agreement. Fraud attempts usually arrive as a request to use a personal, agent or newly named company account, sometimes sweetened with a discount, and the documents can look entirely genuine. The safeguard is a comparison with the Escrow panel in Dubai REST and the SPA, made before any money moves.

RERA takes control of the escrow account if a project is cancelled, and refunds to buyers are then handled from the protected funds under DLD supervision. That safeguard reaches only money paid into the registered account; payments sent anywhere else fall outside it. With 76.94 percent recorded on the register at the 17 July 2026 inspection, the cluster is well into construction, but the mechanism applies at every stage. How the DLD regulates this process is described in the Dubai Land Department guide.

Escrow protects the capital paid into it while the project is built. It does not fix a handover date, compensate for late completion, protect against changes in market value, or recover money sent to any account other than the registered one. Defects found at handover are taken up with the developer under the Sales and Purchase Agreement, with the post-completion retention as added leverage, and service charges and the DLD fee sit outside the account altogether.