Volta Escrow Account

Emirates NBD Bank (P.J.S.C) holds the escrow account for Volta by DAMAC, account number 0205*****3902 (shown in full in the Escrow Details section above). The account is recorded against DLD project number 2782, which the Dubai Land Department register lists under the name Volta Tower.

Buyer payments under DAMAC's time-based plan go into the escrow account on the dates set in each Sales and Purchase Agreement, and the funds are released to the developer against construction progress verified through DLD inspections, not against the payment calendar. The latest DLD register reading, dated 18 August 2026, recorded 29.26%, up from 20.79% on 11 April 2026. Every dated reading is tracked on the Volta by DAMAC construction updates page.

No. The 4% DLD registration fee is paid in addition to the 20% deposit and goes to the Dubai Land Department as the registration fee for the sale, not into the project escrow account. Only the purchase price payments themselves are made into the Emirates NBD escrow account for project 2782.

In the Dubai REST app, the Project Status service under Services returns the record for project number 2782, listed as Volta Tower. Its Escrow Account panel shows the bank, Emirates NBD Bank (P.J.S.C), and the registered account number, which should match both the Escrow Details section of this page and the Sales and Purchase Agreement. The check takes about two minutes and can be repeated before every transfer.

Yes. A delay does not switch the protection off: payments remain in the escrow account and are still released only against verified construction progress, whatever the calendar says. Escrow protects capital while the tower is built; it does not compensate buyers for a later handover, and delay terms sit in the Sales and Purchase Agreement. The stated handover for Volta by DAMAC is Q2 2028.

No. Every off-plan payment for Volta by DAMAC belongs in the DLD-registered escrow account 0205*****3902 at Emirates NBD (the full number sits in the Escrow Details section above), as written in the Sales and Purchase Agreement. A request to pay a personal account, an agent's account or a different company account, particularly one sweetened with a discount for paying outside escrow, matches the usual pattern of payment-diversion fraud, however official the paperwork appears. Such a request is checked against the account registered for project 2782 in Dubai REST before any money moves.

If the Dubai Land Department cancels a registered project, RERA takes control of the escrow account and refunds to buyers are handled from the protected funds under DLD supervision. That safety net reaches only money paid into the registered account; a payment sent anywhere else sits outside it. The framework is explained in the Dubai Land Department guide.

Oqood is the Dubai Land Department register for off-plan sales. Once a Volta by DAMAC unit is booked and the deposit is paid into escrow, the sale is recorded in Oqood against project 2782, which ties the buyer's purchase to the project and its escrow account. The title deed generally follows completion and settlement of the final payment, subject to the terms of the Sales and Purchase Agreement.

The escrow account protects buyer payments made into it while the tower is built. It does not guarantee the Q2 2028 handover, it does not pay compensation for delays (those terms sit in the Sales and Purchase Agreement), it does not hold the 4% DLD registration fee, and it gives no protection to money sent to any account other than the registered one. A retention held after completion supports defect repairs, but escrow is not a guarantee of finish quality.

DAMAC Properties has operated since 2002 and, according to its Volta brochure, had delivered approximately 47,000 homes, with a development portfolio of more than 33,000, as of 31 December 2023. For Volta by DAMAC itself, the DLD register records registration on 27 September 2023, a construction start on 13 December 2023 and dated readings of 20.79% on 11 April 2026 and 29.26% on 18 August 2026.