Royal 3 & Royal 4 DAMAC Riverside Views Escrow Account

Mashreq Bank PSC holds the escrow account for Royal 3 and Royal 4, account number 0190*****188 (shown in full in the Escrow Details section above). It is the trust account for DLD project number 3669, registered with the Dubai Land Department in May 2025.

Yes. Royal 3 and Royal 4 are registered with the Dubai Land Department as a single project, number 3669, under the register name "Damac Riverside Views - Royal 3&4", and that registration has one trust account at Mashreq Bank. Payments for apartments in either building go into the same account, and releases from it follow one register reading that covers both buildings.

The bank releases money to the developer only against construction progress recorded by Dubai Land Department inspections, not on request and not on the buyer payment calendar. Funds not yet matched by recorded progress stay in the account under DLD supervision, separate from the developer's own operating accounts.

The DLD register recorded 13.36 percent progress at the inspection on 30 September 2026, up from a previous reading of 5.39 percent (the register does not date that reading), with the main contract listed as progressing. At that early stage most of the construction-linked releases from the escrow account still lie ahead. Each new reading is tracked on the Royal 3 and Royal 4 construction updates page.

Under the DAMAC Riverside Views regular payment plan, the 20 percent deposit, the 60 percent spread over 40 instalments and the 20 percent due on completion are all paid into the escrow account. The instalments are set by months counted from booking, not by construction stage, so the payment calendar and the release of funds to DAMAC run on separate tracks: buyers pay on the dates in the SPA, and the bank releases money only against inspected progress. The plan is DAMAC's regular plan for the release that includes Royal 3 and Royal 4; the schedule that binds a specific unit is the one in its SPA.

No. The 4% DLD registration fee is a Dubai Land Department charge settled at booking, alongside the 20 percent deposit, and it never enters the escrow account. On a one-bedroom apartment at AED 1,400,000 the fee is AED 56,000 (approx USD 15K); on a two-bedroom apartment at AED 2,450,000 it is AED 98,000 (approx USD 27K).

The protection continues for as long as the build runs. Money stays in the escrow account and is released only against recorded progress, whatever the calendar says. The DLD record lists a registered completion date of 31 March 2029, in line with the expected Q1 2029 handover; the contractual completion date is the one in the SPA. Escrow protects capital while the project completes but does not itself compensate for delay; any delay terms sit in the Sales and Purchase Agreement.

No. Every off-plan payment toward an apartment in Royal 3 or Royal 4 belongs in the DLD-registered escrow account 0190*****188 at Mashreq Bank (the full number sits in the Escrow Details section above), as recorded in the Sales and Purchase Agreement. A request to route money to a personal account, a broker's account or a different company account, particularly one offered with a discount for paying outside escrow, matches the usual pattern of payment fraud however official it appears. Such a request can be tested against the escrow panel for project 3669 in Dubai REST and against the SPA before any money moves.

RERA takes control of the escrow account if a project is cancelled, and refunds to buyers are handled from the protected funds under the supervision of the Dubai Land Department. That protection reaches only money paid into the registered account; funds sent anywhere else sit outside it. The wider regulatory framework is explained in the Dubai Land Department guide.

The DLD register lists DAMAC MRY Investment L.L.C, developer number 1866, as the registered developer of project 3669, which is marketed under the DAMAC Properties name. Matching the registered developer and the project number in Dubai REST against the SPA is part of confirming that a payment instruction relates to the right project.

The registration's own record runs from DLD registration on 12 May 2025 to a construction start on 11 August 2025 and a register reading of 13.36 percent on 30 September 2026. DAMAC's own DAMAC Riverside Views materials state that the company has been active since 2002 and had delivered 47,600+ units, with 40,000+ in progress, as of June 2024. Those are company-wide figures, not a delivery record for Royal 3 and Royal 4.

Escrow protects capital paid into the registered account. It does not compensate for delay, which is a matter for the SPA, and it does not cover money sent to any other account. It does not hold the 4% DLD registration fee, which is paid to the Dubai Land Department, and it says nothing about the future market value of an apartment.