Sage at DAMAC Riverside Escrow Account

First Abu Dhabi Bank P.J.S.C. holds the escrow account for Sage at DAMAC Riverside, account number 4031*****3895002 (the complete number is available in the Escrow Details section at the top of this page). The Dubai Land Department register lists the same bank as the trust account bank for project 3171, which was registered on 16 July 2024.

In the Dubai Land Department's Dubai REST app, Sage appears under Services, Project Status, as project number 3171, registered under the name "Damac Riverside - Sage". The Escrow panel for that entry shows the bank, First Abu Dhabi Bank P.J.S.C., and the account number, and both are expected to match the escrow details in the Sales and Purchase Agreement.

Sage is marketed under the DAMAC Properties name, while the Dubai Land Department register and the RERA progress report for project 3171 record DAMAC MRY Investment L.L.C, developer number 1866, as the registered developer. That register entry is the reference point against which the developer and escrow details named in a Sales and Purchase Agreement can be compared.

Sage runs on a 20 / 55 / 25 plan: 20% on the booking date, 55% across 24 instalments during construction, and 25% due on handover, at completion. Buyer payments go into the escrow account at First Abu Dhabi Bank, and the dates and amounts of each instalment follow the schedule in the buyer's Sales and Purchase Agreement. Money leaves escrow for the developer only against construction progress recorded by DLD inspections, not according to the payment calendar.

No. Although the 4% DLD registration fee falls due at booking, together with the 20% down payment, it is a Dubai Land Department registration charge and is not deposited into the project escrow account. It therefore never forms part of the escrow balance that is released to the developer against construction progress.

No. Every off-plan payment for Sage is made into the DLD-registered escrow account 4031*****3895002 at First Abu Dhabi Bank (the unmasked number sits in the Escrow Details section near the top of this page), as recorded in the Sales and Purchase Agreement. Fraud aimed at off-plan buyers usually arrives as a change of bank details: a new beneficiary, an individual's account or a supposed second company account, sometimes sweetened with a discount. None of these is a valid destination for a Sage payment, whatever letterhead it carries, and the escrow details on Dubai REST and in the Sales and Purchase Agreement are the test any such instruction has to pass.

The escrow protection stays in place. Funds remain in the account and are still released only against construction progress recorded by DLD inspections, whatever the calendar shows. Escrow protects capital while the project is completed; it does not itself compensate for delays, and those terms sit in the Sales and Purchase Agreement. The registered completion date currently on the DLD record is 31 December 2027.

RERA takes control of the escrow account if a project is cancelled, and refunds owed to Sage buyers would then be paid out of the protected balance under DLD supervision. That safety net reaches only money paid into the registered account, so a payment sent anywhere else sits outside it. Sage is registered as project 3171 with an Active status on the register. The wider regulatory framework is covered in the Dubai Land Department guide.

Yes. A retention portion of the escrow balance stays in the account after completion to cover defect repairs instead of being released to the developer at handover. The amount and duration of the retention that apply to a Sage townhouse are matters for the escrow arrangements and the Sales and Purchase Agreement.

Escrow protects money paid into the registered account and ties its release to inspected construction progress. It does not guarantee a handover date, it does not pay compensation if the timetable changes, it does not protect funds sent to any other account, and it does not hold the 4% DLD registration fee, which is paid to the Dubai Land Department. Specification, finishes and contractual remedies are governed by the Sales and Purchase Agreement rather than by the escrow account.

The latest DLD inspection on record, dated 26 August 2026, shows a register reading of 13.26%, up from a previous reading of 7.63% (the register does not date that reading), with the RERA progress status Main Contract - Progressing. Foundations and substructure were under way and superstructure works were at an early stage, which places escrow releases in their early phases. Readings from later inspections are added to the Sage construction updates guide as they are posted.

Sage has no completed phase yet, so its own record is the dated register entries: registration on 16 July 2024, construction start on 24 September 2024 and a 13.26% reading on 26 August 2026, with 31 December 2027 recorded as the registered completion date. At company level, DAMAC's DAMAC Riverside brochure states that DAMAC Properties had delivered approximately 46,000 homes as of 30 June 2023, a company-wide figure rather than a delivery record for Sage or for DAMAC Riverside.