Tahiti at DAMAC Islands 2 Escrow Account

Mashreq Bank PSC holds the escrow account for Tahiti at DAMAC Islands 2, account number 0190*****758 (shown in full in the Escrow Details section above). The account sits under DLD project number 4262, registered with the Dubai Land Department on 15 December 2025, with DAMAC Prime Development L.L.C as the registered developer.

Every Tahiti payment on the launch plan, the 20% deposit, the 47 monthly instalments totalling 55% and the 25% due on completion, is paid into the Mashreq Bank PSC escrow account first. The instalments fall due by date, counted from the sale, while releases from the account to the developer follow construction progress recorded through Dubai Land Department inspections. Paying on schedule therefore does not move money to DAMAC faster than the works on site justify.

The Dubai Land Department project register read 0.32% for project 4262 at the inspection dated 2 June 2026, against a previous reading of 0%. The monitoring report for that date records mobilisation and enabling works in progress, so Tahiti is at an early site stage with construction-linked releases only just beginning and a registered completion date of 30 June 2030 ahead. Each new inspection is tracked on the Tahiti at DAMAC Islands 2 construction updates page.

Yes, the protection continues. Funds held for Tahiti stay in the escrow account and are released only against recorded construction progress, whatever the calendar says. The monthly instalments run by date from the sale, while the 25% completion payment is tied to completion itself. Escrow protects capital while the project is built; it does not compensate for a delay, and any delay terms sit in the Sales and Purchase Agreement.

No. Every off-plan payment for Tahiti at DAMAC Islands 2 belongs in the DLD-registered escrow account 0190*****758 at Mashreq Bank PSC (the full number sits in the Escrow Details section above), matching the account recorded in the Sales and Purchase Agreement. A request to pay a personal account, an agent's account or a different company account, particularly one offered with a discount for paying outside escrow, follows the standard pattern of payment fraud however official it appears. Any such request is checked against the escrow account shown in Dubai REST and the Sales and Purchase Agreement before money moves.

If the Dubai Land Department cancels a registered project, RERA takes control of the escrow account and buyer refunds are processed from the protected funds under DLD supervision. That mechanism covers money paid into the registered Tahiti account at Mashreq Bank PSC; a payment sent to any other account sits outside it. The wider regulatory framework is explained in the Dubai Land Department guide.

No. Under DAMAC's launch plan for Tahiti, the 4% DLD registration fee is paid in addition to the 20% deposit at booking. It is the Dubai Land Department's fee for registering the purchase, so it goes to DLD rather than into the project escrow account, and it is not part of the funds later released to the developer.

Oqood is the Dubai Land Department's register for off-plan sales. Registering a Tahiti unit under Oqood records the buyer's purchase against DLD project number 4262, linking the sale to the project whose payments are held in the Mashreq Bank PSC escrow account. The Oqood record and the Sales and Purchase Agreement together are the reference points for the escrow details used on every transfer.

The Dubai REST app lists the project under Services, then Project Status, searchable by project number 4262 or the register name Damac Islands 2 - Tahiti 1. Its Escrow Account panel shows the bank and account number, which match the Escrow Details section of this page and the Sales and Purchase Agreement. The same record shows the registration date of 15 December 2025, the 2 May 2026 construction start and the latest inspection reading.

Tahiti's own escrow cycle so far runs from DLD registration on 15 December 2025 to a construction start on 2 May 2026 and a register reading of 0.32% at the 2 June 2026 inspection, up from 0%, with completion registered for 30 June 2030. No delivered DAMAC Islands 2 cluster appears in the records behind this page, so the wider evidence is company level: DAMAC Properties, developing since 2002, reports 49,000+ units delivered and 54,000+ units in progress as of Q2 2025.