Royal 1 at DAMAC Riverside Views Escrow Account

Mashreq Bank PSC holds the escrow account for Royal 1, account number 0190*****184 (shown in full in the Escrow Details section above). The account sits under DLD project number 3667, registered on 11 May 2025 as "Damac Riverside Views - Royal 1".

Every buyer payment under the Royal 1 plan, from the 20% deposit through the 40 instalments that make up 60% to the 20% due on completion, is paid into the escrow account. The instalments are scheduled by months from booking, but Mashreq releases funds to DAMAC only against construction progress recorded by DLD inspections, so the payment calendar and the release of money run on separate tracks. DAMAC publishes this as the regular payment plan for DAMAC Riverside Views, and the schedule for a specific Royal 1 unit is the one confirmed by DAMAC and set out in the SPA.

No. The 4% DLD registration fee is paid at booking alongside the 20% deposit, but it goes to the Dubai Land Department, not into the Royal 1 escrow account. At the listed prices it comes to AED 44,000 (approx USD 12K) on a 1 Bedroom Apartment at AED 1,100,000 and AED 60,400 (approx USD 16K) on a 2 Bedroom Apartment at AED 1,510,000.

The DLD register reading recorded on 30 September 2026 puts Royal 1 at 13.97 percent, up from a previous reading of 5.39 percent that the register does not date. The RERA monitoring report from that inspection lists the main contract as progressing, with enabling works substantially complete, foundations and substructure at an advanced stage and the superstructure at an early stage. Because releases follow recorded progress, whatever has been released so far can only reflect that early-stage work. Inspection history for the building is tracked on the Royal 1 construction updates page.

Yes, the protection does not depend on the calendar. Funds stay in the escrow account and are released only as inspected progress is recorded, however long the build takes. The DLD record lists a registered completion date of 31 March 2029, and the expected handover for Royal 1 is Q1 2029. Escrow protects capital while the building completes but does not compensate for delays; delay terms sit in the Sales and Purchase Agreement.

No. All off-plan payments for Royal 1 belong in the DLD-registered escrow account 0190*****184 at Mashreq Bank PSC (the full number sits in the Escrow Details section above), matching the escrow details in the Sales and Purchase Agreement. A request to pay a personal account, an agent's account or a different company account, particularly one sweetened with a discount for paying outside escrow, follows the standard pattern of payment fraud regardless of how official it looks. Any such instruction is tested against the escrow account shown in Dubai REST and the escrow details in the SPA before money moves.

If the Dubai Land Department cancels a registered project, RERA takes control of the escrow account and buyer refunds are handled from the protected funds under DLD supervision. That protection covers money paid into the registered Royal 1 account; payments sent anywhere else fall outside it. With 13.97 percent of progress on the register, Royal 1 is at an early stage, which is precisely the period this safety net exists for. The wider regulatory framework is covered in the Dubai Land Department guide.

The DLD record lists DAMAC MRY Investment L.L.C, developer number 1866, as the registered developer for project 3667, "Damac Riverside Views - Royal 1". Royal 1 is marketed under the DAMAC Properties name, and the escrow account at Mashreq Bank PSC is tied to this registration.

The escrow account protects money paid into it for Royal 1 and governs when that money reaches the developer. It does not compensate buyers if completion moves, since delay terms sit in the SPA; it does not guarantee the market value of a unit; it does not hold the 4% DLD registration fee, which is paid to the Dubai Land Department; and it offers no protection for payments sent to any other account.

The final 20% is due on completion, with handover for Royal 1 expected in Q1 2029. A retention portion is held in escrow after completion to cover defect rectification, on terms set by the escrow framework and the SPA, and the title deed follows completion and the final payment, replacing the off-plan Oqood registration.

The Royal 1 register record runs from registration on 11 May 2025 and a construction start on 11 August 2025 to a 13.97 percent reading on 30 September 2026, with a registered completion date of 31 March 2029. At company level, DAMAC's own materials cite 47,600+ units delivered and 40,000+ units in progress as of June 2024. Those are developer-wide figures rather than a delivery record for Royal 1, and the escrow account protects buyer payments whichever way that record reads.