Piazza Roma at DAMAC Lagoons Escrow Account

Abu Dhabi Commercial Bank (ADCB) holds the escrow account for Piazza Roma, account number 4980*****012 (revealed in full in the Escrow Details section above). The account is recorded under DLD project number 4379, entered on the DLD project register on 23 February 2026.

In the Dubai REST app, the record is found under Services, then Project Status, by searching project number 4379 or the register name Piazza Roma. The Escrow panel shows the bank, Abu Dhabi Commercial Bank, and the account number. The RERA inspection report for project 4379 names Island Oasis Properties, developer number 921, as the registered developer, on plot 32254 in Al Hebiah Fifth.

The forty monthly instalments of 1% each, due from month 3 to month 42 after booking, are paid into the escrow account on a schedule counted from the booking date. Releases from escrow to the developer follow a different clock: they are made against construction progress verified by the DLD, not against the payment schedule. The plan a buyer signs is confirmed in the SPA with the developer.

No. The 4% DLD fee is payable to the Dubai Land Department on top of the 20% booking deposit and is not held in the escrow account. Only payments toward the price of the office unit, meaning the deposit, the monthly instalments and the completion payment, go into the project escrow account.

The RERA inspection dated 18 August 2026 recorded the status Enabling Works, Progressing, with mobilisation under way and enabling works at an early stage. The DLD register reading stood at 0.2%, up from 0% at the previous inspection. At this stage, buyer payments are held in escrow and released only against progress the DLD has verified. Each inspection is tracked on the Piazza Roma construction updates page.

The escrow protection continues regardless of the calendar. Funds stay in the escrow account and are released only against verified construction progress. The registered completion date for project 4379 is 30 June 2030. Escrow protects capital while the project completes but does not itself compensate buyers; the terms that apply if completion runs late sit in the Sales and Purchase Agreement.

No. All off-plan payments for a Piazza Roma office go into the DLD-registered escrow account 4980*****012 at Abu Dhabi Commercial Bank (the complete number is in the Escrow Details section above), as recorded in the Sales and Purchase Agreement. A request to pay a personal account, an agent, or a different company account, particularly when it comes with a discount for paying outside escrow, matches the common pattern of payment fraud however official it appears. The safeguard is a comparison of any such instruction with the escrow account shown in Dubai REST and in the SPA before money moves.

Under the escrow framework, RERA takes control of the escrow account if a project is cancelled, and refunds to buyers are made from the funds protected in that account under DLD supervision. That protection covers money in the registered account only; payments sent anywhere else fall outside it. Piazza Roma is at the enabling works stage, with a DLD register reading of 0.2% at the 18 August 2026 inspection, which is the stage at which this safety net carries the most weight. How the DLD supervises the wider framework is set out in the Dubai Land Department guide.

The final 40% of the price is the 41st instalment of the launch plan and falls due on completion; Piazza Roma's handover is expected in Q2 2030. It is paid into the project escrow account like the earlier instalments. A retention from the escrow funds is kept after completion to pay for repairs of defects.

The escrow account protects buyer capital paid into it; it does not compensate for a later completion, guarantee the handover date, or protect the future value or leasing demand of an office unit. It also does not cover money paid to any account other than the registered one, and the 4% DLD fee is paid to the Dubai Land Department rather than held in escrow.