Verona at Damac Hills 2 Escrow Account

Emirates NBD Bank (P.J.S.C) holds the escrow account for Verona at DAMAC Hills 2, account number 0205*****3316, shown in full in the Escrow Details section above. The account was opened under DLD project number 2730 when the project was registered with the Dubai Land Department on 8 August 2023.

No. DAMAC received the Building Completion Certificate for Verona at DAMAC Hills 2 on 1 October 2025, the Dubai Land Department register carries the project as Completed, and the townhouses are ready. Layouts, sizes and pricing for the finished cluster are documented in the Verona at DAMAC Hills 2 project guide.

The RERA inspection dated 14 May 2026 certifies progress at 100 percent, up from 98.12 percent at the previous reading. The inspection history behind those figures is tracked on the Verona at DAMAC Hills 2 construction updates page.

DAMAC sold Verona at DAMAC Hills 2 on a 20/50/30 schedule: a 20 percent booking deposit, 50 percent across thirteen scheduled installments, and 30 percent at the 90 percent completion milestone, with the 4% DLD registration fee paid in addition to the deposit. Each of those payments enters the project escrow account first, and the bank releases funds to the developer only against construction stages certified by DLD inspections.

No. Payments belong in the DLD-registered escrow account 0205*****3316 at Emirates NBD Bank (P.J.S.C), with the full number shown in the Escrow Details section above, exactly as recorded in the Sales and Purchase Agreement. A request to send funds to a personal account, an agent's account or a different company account, particularly one offered alongside a discount for paying directly, is the standard shape of payment diversion fraud however official the paperwork appears. The safe response is to hold the transfer, open the project record in Dubai REST, and compare the account shown there against the one written into the Sales and Purchase Agreement before anything is sent.

Yes. Funds paid into the project escrow account stay under Dubai Land Department supervision and are released only against certified progress, and a retention portion remains in the account after completion to cover defect repairs. Escrow protects capital while a project completes; it does not itself compensate for delays, and those terms sit in the Sales and Purchase Agreement. The independent defect inspection that pairs with the retention is covered in the Verona at DAMAC Hills 2 snagging inspection guide.

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 Dubai Land Department supervision. That is the whole reason payments belong only in the registered account, since funds routed elsewhere were never inside the protected pool to begin with. Verona at DAMAC Hills 2 is certified at 100 percent and recorded as Completed, so cancellation is not a live concern for this project, and the mechanism exists regardless. How the regulator supervises project accounts across the market is detailed in the Dubai Land Department guide.

Yes, Verona at DAMAC Hills 2 is a freehold project, open to all nationalities.

Verona at DAMAC Hills 2 townhouses start from AED 1.90M, approximately USD 517,000, which sits below the AED 2 million property investment threshold for the 10 year Golden Visa, so an entry level purchase does not reach the threshold on its own. The threshold, the qualifying routes and the application timing are covered in the Verona at DAMAC Hills 2 Golden Visa guide.