Park Greens at DAMAC Hills 2 Escrow Account

First Abu Dhabi Bank P.J.S.C. holds the escrow account for Park Greens, account number 1011*****4309001 (shown in full in the Escrow Details section above), opened under DLD project number 2859 when the project was registered in December 2023.

Park Greens is registered with the Dubai Land Department under Front Line Investment Management L.L.C, developer number 1021, while the project is marketed under the DAMAC brand. Registering projects to a dedicated corporate entity is standard practice in Dubai. For a buyer the consequence is practical: the registered entity and the registered escrow account in Dubai REST are the reference points for any payment instruction, and a brand name on a document is not verification.

The 20/50/30 structure means the twenty percent booking deposit and all construction instalments land in the escrow account first. Monthly instalments run from month three of the sale date, with larger five percent steps at months six, twelve and eighteen and further instalments tied to 70, 80 and 90 percent completion. The bank releases funds to the developer only against construction stages certified by DLD inspections, and the final thirty percent falls due on completion, expected in Q1 2027.

No. The 4 percent Dubai Land Department registration fee is payable in addition to the initial deposit and sits outside the escrow account, because it is a government transfer fee rather than a payment toward the purchase price. It is the one payment connected to a Park Greens purchase that is not made to the registered escrow account number.

The DLD inspection dated 13 May 2026 certified 21.69 percent completion, up from 3.5 percent at the previous inspection. Enabling, foundation and substructure works were recorded at advanced stages, with superstructure and infrastructure progressing and envelope, MEP and internal finishes at early stages. Inspection by inspection detail is tracked on the Park Greens construction updates page.

Yes, the protection continues. Funds stay in the escrow account and are released only against certified progress, regardless of the calendar. Escrow protects capital while the project completes, though it does not itself compensate for delays; those terms sit in the Sales and Purchase Agreement.

No. Every off-plan payment for Park Greens must go into the DLD-registered escrow account 1011*****4309001 at First Abu Dhabi Bank (the full number sits in the Escrow Details section above), exactly as recorded in the Sales and Purchase Agreement. Any request to send funds to a personal account, an agent's account or an alternative company account, especially one paired with a discount for paying directly, is the classic pattern of payment fraud, no matter how official the paperwork looks. Any such request should be checked against the escrow account registered in Dubai REST and the details in the Sales and Purchase Agreement before any funds are sent.

If the Dubai Land Department cancels a registered project, RERA takes control of the escrow account and buyer refunds are processed from the protected funds under DLD supervision. That mechanism is the reason paying only into the registered account matters: money sent anywhere else sits outside the protection entirely and outside any refund process. The wider framework is explained in the Dubai Land Department guide.

Yes, Park Greens at DAMAC Hills 2 is a freehold project, open to all nationalities.

Park Greens twin villas start from AED 3.23 million (approx USD 879,000), which is above the AED 2 million property investment threshold for the 10-year Golden Visa. The full requirements and application timing are covered in the Park Greens Golden Visa guide.