Nice at DAMAC Lagoons Escrow Account

Emirates NBD Bank (P.J.S.C) holds the escrow account for Nice at DAMAC Lagoons, account number 0205*****7414 (shown in full in the Escrow Details section above), linked to DLD project number 2335, which was registered with the Dubai Land Department in December 2021.

Under DAMAC's published 50/50 Payment Plan, the 5% booking payment, the 10% deposit balance and the ten instalments counted from the sale date are all paid into the escrow account. Money leaves the account for the developer only against construction progress verified by the Dubai Land Department, so the instalment calendar and the release of funds run on separate tracks. The schedule that binds a buyer is the one in the Sales and Purchase Agreement.

No. The 4% DLD fee is a registration fee paid to the Dubai Land Department, not a payment toward the price, so it is not held in the escrow account. DAMAC's launch plan schedules it alongside the 10% deposit balance, within 30 days of the sale. The fee and the wider registration process are explained in the Dubai Land Department guide.

The 50% completion payment is the largest single transfer in the plan and is payable on completion; Q4 2026 is the handover date given for buyers. It is paid into the same escrow account as every earlier instalment toward the price, and under the escrow framework a retention portion is held back after completion to cover defect repairs. The exact amount and timing are set by the Sales and Purchase Agreement and the developer's completion notice.

On 10 August 2026 the DLD register read 93.71%; the earlier reading of 92.78% appears without a date. RERA's inspection on that day found the structural works substantially completed and the remaining packages, from MEP services to finishes and infrastructure, at advanced stages. Escrow releases to the developer are tied to verified progress of this kind rather than to the payment calendar. Each reading is tracked on the Nice at DAMAC Lagoons construction updates page.

The protection stays in place. Money paid into the escrow account remains there and is released only against verified progress, whatever the calendar says. Escrow protects capital while the project is finished; it does not compensate buyers for a change in timing, and any such terms sit in the Sales and Purchase Agreement. At the end of the build, the retention held after completion and an independent handover snagging inspection are the checks that apply to the finished home.

No. Every off-plan payment toward the price at Nice at DAMAC Lagoons goes into the DLD-registered escrow account 0205*****7414 at Emirates NBD (the full number sits in the Escrow Details section above), exactly as recorded in the Sales and Purchase Agreement. Instructions to route money through a private bank account, a broker or a second company account, especially when a discount is offered for doing so, fit the usual profile of payment fraud, however convincing the documents look. The registered account on Dubai REST and in the Sales and Purchase Agreement is the reference that any such instruction is tested against before funds are released from the buyer's bank.

If the Dubai Land Department cancels a registered project, RERA takes control of the escrow account and refunds to buyers are handled from the protected funds under DLD supervision. That cover reaches only money inside the registered account; a transfer to anywhere else falls outside it. A project reading 93.71% on the DLD register sits well beyond the point at which cancellation is a practical worry for Nice at DAMAC Lagoons buyers, though the mechanism exists whatever the stage. How the regulator structures this protection is set out in the Dubai Land Department guide.

In the Dubai REST app, the project appears under Services, then Project Status, as project 2335 with the register name "Damac Lagoons - Nice 1". Its Escrow panel lists the bank and the account number, which match the Escrow Details section above. The RERA report for the project names Island Oasis Properties, developer number 921, as the registered developer.

Escrow protects money paid toward the price while the project is built. It does not hold the 4% DLD fee, which goes to the Dubai Land Department, and it cannot protect a payment sent to any account other than the registered one. It does not compensate for changes in the completion timetable, does not guarantee the finish of an individual home, and does not cover service charges or other running costs after handover. Defects are addressed through the retention, the developer's obligations under the Sales and Purchase Agreement and the buyer's own handover inspection.