Royal 2 DAMAC Riverside Views Escrow Account

Mashreq Bank PSC holds the escrow account for Royal 2, account number 0190*****186 (shown in full in the Escrow Details section above), registered under DLD project number 3668, "Damac Riverside Views - Royal 2", which entered the Dubai Land Department register on 11 May 2025.

Buyer payments for Royal 2 are held in the Mashreq Bank escrow account and paid out to the developer in steps linked to construction progress, supervised by the Dubai Land Department. The payment calendar in the SPA decides when a buyer pays; inspected construction progress decides when money leaves escrow.

The DLD register recorded 13.53 percent for Royal 2 at the inspection of 30 September 2026, up from a previous reading of 5.25 percent (the register does not date that reading), with the main contract listed as progressing. At an early-stage reading, most of the construction-linked releases still lie ahead. Each new reading is tracked on the Royal 2 DAMAC Riverside Views construction updates page.

Under DAMAC's regular plan for the collection, the 20 percent booking deposit, the 40 instalments that make up 60 percent and the 20 percent completion payment are all paid into the escrow account. The instalments fall due by months from booking, not by construction stage, while releases to DAMAC follow inspected progress. The plan is DAMAC's regular payment plan for DAMAC Riverside Views, issued for a later release of the collection; the Royal 2 schedule that applies to a purchase is the one confirmed by DAMAC and set out in the SPA.

No. The 4% DLD registration fee falls due at booking together with the 20 percent deposit, and the Dubai Land Department collects it directly; it never enters the escrow account. At the listed prices it comes to AED 47,200 (approx USD 13K) on a 1 bedroom apartment at AED 1,180,000 and AED 72,400 (approx USD 20K) on a 2 bedroom apartment at AED 1,810,000.

Yes. Money paid in stays under the escrow rules, and releases to the developer keep following inspected progress rather than the calendar. Handover is expected in Q1 2029, and the DLD record lists a registered completion date of 31 March 2029, in line with that quarter; the contractual completion date is the one in the SPA. Escrow keeps the capital protected while the building is completed, but it does not compensate for delays; delay terms sit in the Sales and Purchase Agreement.

No. Every off-plan payment for Royal 2 belongs in the DLD-registered escrow account 0190*****186 at Mashreq Bank (the full number sits in the Escrow Details section above), as recorded in the Sales and Purchase Agreement. Instructions that point to an individual's bank account, a broker's account or any other company account, particularly when paired with a discount for paying direct, follow the standard pattern of payment fraud however official the paperwork appears. Any such instruction can be checked against the escrow account shown in Dubai REST and against the SPA before funds move.

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 protection covers money paid into the registered Mashreq Bank account; money sent anywhere else sits outside it. How that framework operates across the market is set out in the Dubai Land Department guide.

The DLD register lists the developer of Royal 2 as DAMAC MRY Investment L.L.C, developer number 1866, while the project is marketed under the DAMAC Properties name. Payment instructions and the SPA can be checked against that registered developer name and against the Mashreq Bank escrow account shown in Dubai REST.

The escrow account protects the capital paid into it. It does not compensate for delays, which are governed by the SPA, and it does not protect against changes in market prices or rental demand. It does not cover money sent to any account other than the registered one, and it does not hold the 4% DLD registration fee, which the Dubai Land Department collects separately.

After completion, a retention portion of the escrow balance stays in place on terms set by the escrow framework and the SPA, to cover the repair of defects found after handover. For Royal 2, with handover expected in Q1 2029, that retention is the final layer of escrow protection, following the construction-linked releases.

DAMAC's own DAMAC Riverside Views materials state 47,600+ units delivered and 40,000+ units in progress as of June 2024, with activity since 2002 and a presence in more than 10 cities. These are company-wide figures, not a delivery record for Royal 2 or DAMAC Riverside. Royal 2's own record on the DLD register runs from registration on 11 May 2025 and a construction start on 11 August 2025 to the 13.53 percent reading of 30 September 2026.