Safa Gate Escrow Account

The Safa Gate escrow account is held at Emirates NBD Bank (P.J.S.C) under number 0205*****6702 (the complete number is displayed in the Escrow Details section of this page). It sits under DLD project number 3001, registered on 26 April 2024, and is supervised by the Dubai Land Department: buyer payments are held there and released to the developer against construction progress.

In the Dubai REST app, the Project Status service lists Safa Gate under project number 3001 with the register name Damac City 2 rather than the marketing name, and with Pinnacle Real Estate Developments L.L.C as the registered developer. The project's escrow panel shows Emirates NBD as the bank together with the account number, which should match the Sales and Purchase Agreement and the payment instruction digit for digit. Searching by project number rather than by name avoids confusion with similarly named DAMAC entries on the register.

The two run on different schedules. Under the 70/30 launch plan, buyers pay 1% a month during construction on dates fixed by the Sales and Purchase Agreement. Those instalments are held in the escrow account, and money is released to the developer only as DLD inspections verify construction progress. The register reading stood at 5.68% at the inspection dated 9 April 2026, and each reading is tracked on the Safa Gate construction updates page.

No. The 4% DLD registration fee goes to the Dubai Land Department as the government charge for recording the sale, and it comes on top of the 20% booking deposit rather than forming part of it. As a government fee it is not held in the Safa Gate escrow account and is never released to the developer.

The 70/30 launch plan places 30% of the price on completion, with handover of Safa Gate expected in Q4 2029. The exact trigger and the payment instructions are set in each buyer's Sales and Purchase Agreement, which records the registered escrow account for the project. After completion, a retention portion also stays in escrow to cover defect repairs.

No. Every off-plan payment for Safa Gate belongs in the DLD-registered escrow account 0205*****6702 at Emirates NBD (the complete number appears in the Escrow Details section near the top of this page), matching the escrow details recorded in the Sales and Purchase Agreement. Instructions to send money to an individual, to an agent, or to any company account other than the registered one, especially when a discount is offered for paying outside escrow, follow the usual pattern of payment fraud however genuine the documents appear. Such a request is checked against the escrow entry for project 3001 in Dubai REST and against the SPA before any money moves.

Yes. Money in the escrow account stays there and continues to be released only against verified construction progress, whatever the calendar says. The escrow account protects buyer capital while the tower is built; it does not pay compensation for a late handover, and the terms that apply if completion runs past the expected date sit in the Sales and Purchase Agreement.

RERA takes control of the escrow account if a project is cancelled, and for a registered project such as Safa Gate buyer refunds would then be handled from the protected funds, supervised by the Dubai Land Department. That protection reaches only money paid into the registered account, which is why any payment made outside it carries real risk. The regulatory framework behind this is explained in the Dubai Land Department guide.

No. A buyer cannot draw money back out of the Safa Gate escrow account on request: funds paid in are held for the project and released to the developer against verified progress. Refunds from the protected funds arise where a registered project is cancelled and RERA takes control of the account. Any other exit from a purchase, such as a resale or a contractual termination, is governed by the Sales and Purchase Agreement, not by the escrow account itself.

The escrow account protects money paid into it; it is neither insurance nor compensation. It does not protect funds sent to any other account, it does not hold the 4% DLD registration fee, and it does not compensate buyers for a late handover or guarantee the Q4 2029 date. It also has no bearing on rental returns or resale prices, which depend on the market rather than on the escrow framework.

DAMAC's Safa Gate brochure states that DAMAC Properties has been active in the region's luxury real estate market since 2002, with 47,600+ units delivered and 40,000+ units in progress as of Q3 2024, 6 master plan communities and a presence in 10+ cities. These are the developer's own company-wide figures. Safa Gate itself has no delivered phase yet: it was registered on 26 April 2024 and showed a register reading of 5.68% at the inspection dated 9 April 2026.