Nice 2 at DAMAC Lagoons Escrow Account

The Nice 2 at DAMAC Lagoons escrow account is held by Emirates NBD Bank (P.J.S.C) under account number 0205*****7412 (the full number is available in the Escrow Details section of this page). The account is linked to DLD project number 2336, which the Dubai Land Department registered on 13 December 2021.

In the Dubai REST app, the Project Status service lists the project under number 2336 and the register name "Damac Lagoons - Nice 2", with Island Oasis Properties shown as the registered developer. The project's Escrow panel names the bank and the account number, and those entries are the reference point for any payment instruction a buyer receives.

The two run on different clocks. Under the developer's published launch plan, Nice 2 instalments fall due at set intervals counted from the sale date, while the escrow bank releases money to the developer only as the Dubai Land Department records construction progress on site. A paid instalment therefore waits in the escrow account until the matching works have been inspected, whatever the calendar says.

No. The 4% DLD registration fee is paid to the Dubai Land Department to register the purchase, so it is not part of the price and is never held in the Nice 2 escrow account. Under the developer's published launch plan it is payable together with the 10% balance of the deposit within 30 days of the sale, and the Sales and Purchase Agreement confirms the exact timing for each buyer.

The DLD register showed 83.88% progress at the reading dated 17 August 2026, against 72.74% at the previous reading. Releases from the escrow account follow those recorded readings, so it is the works not yet recorded, rather than the calendar, that govern what is still to be released. The RERA report of 17 August 2026 lists internal works, the external envelope, MEP, finishes, external works and infrastructure as progressing at advanced stages. Each reading is tracked on the Nice 2 at DAMAC Lagoons construction updates page.

The 50% due on completion is part of the purchase price, and it is paid to the project escrow account specified in the Sales and Purchase Agreement, never to a personal or alternative account. Handover is expected in Q2 2027, and the payment instruction issued at that point is checked against the escrow details on Dubai REST and in the Sales and Purchase Agreement in the same way as every earlier transfer.

No. The protection is tied to the registered project, not to a date. Dubai REST still shows a registered completion date that has passed while the project remains under construction, and DAMAC's current estimate is Q2 2027. In any case, money in the escrow account continues to be released only against recorded progress. Escrow keeps capital protected but does not pay compensation; completion-date terms and any remedies sit in the Sales and Purchase Agreement, and the current date is confirmed with DAMAC in writing. The handover inspection that follows completion is covered in the Nice 2 at DAMAC Lagoons snagging inspection guide.

No. All off-plan payments toward the price of a Nice 2 home belong in the DLD-registered escrow account 0205*****7412 at Emirates NBD, as recorded in the Sales and Purchase Agreement (the unmasked number is shown in the Escrow Details section of this page). A request to pay a personal account, an agent, or a different company account is the standard shape of payment fraud, and an offered discount for paying outside escrow is a warning sign rather than a benefit. Such a request is compared with the escrow entry on Dubai REST and the SPA before any money moves.

RERA takes control of the escrow account if a project is cancelled by the Dubai Land Department, and refunds to buyers are then made from the protected funds under DLD supervision. That safety net covers only money that reached the registered account, which is why the account number matters more than any other line in a payment request. With 83.88% recorded on the register, Nice 2 is at an advanced stage of construction, yet the mechanism stays in place until completion. The regulatory framework is set out in the Dubai Land Department guide.

Yes. Under the DLD escrow framework, a retention portion stays in the escrow account after completion as a reserve for repairing defects, so the developer has a financial reason to put right what owners report at handover. The exact terms for a unit sit in the Sales and Purchase Agreement. How a handover inspection works alongside that retention is covered in the Nice 2 at DAMAC Lagoons snagging inspection guide.

The escrow account protects buyer money paid into it; it does not guarantee a handover date, compensate for a later completion, fix finishes, or protect market value. It also offers nothing for funds sent to any other account, and the 4% DLD registration fee sits outside it because that fee is paid to the Dubai Land Department. Contractual remedies for Nice 2, including completion-date terms, are set out in the Sales and Purchase Agreement.