330 Riverside Crescent Escrow Account

Emirates Islamic Bank P.J.S.C. holds the escrow account for 330 Riverside Crescent, account number 3538*****3502 (shown in full in the Escrow Details section above), under DLD project number 2788, which was registered with the Dubai Land Department on 3 January 2024.

In the Dubai REST app, the Services menu leads to Project Status, where a search for project number 2788 or the name 330 Riverside Crescent opens the project record. Its Escrow panel lists the bank, Emirates Islamic Bank P.J.S.C., and the project's account number, and both details are expected to match the payment instruction and the Sales and Purchase Agreement before any transfer is made.

The 20% down payment and the 40% paid during construction both go into the escrow account first, and the bank releases those funds to Sobha Realty in stages linked to construction progress under Dubai Land Department supervision. Each Sales and Purchase Agreement sets when the construction 40% falls due, and the final 40% is payable on handover, expected in Q2 2027.

No. The 4% DLD registration fee is paid at booking to the Dubai Land Department, separately from the 20% down payment, as the fee for registering the purchase. Only payments toward the purchase price itself go into the 330 Riverside Crescent escrow account.

No. Every off-plan payment toward the purchase price of a 330 Riverside Crescent apartment belongs in the DLD-registered escrow account 3538*****3502 at Emirates Islamic Bank (the full number sits in the Escrow Details section above), as recorded in the Sales and Purchase Agreement. A request to pay into a personal account, an agent's account or a different company account, particularly one offering a discount for paying outside escrow, fits the usual pattern of payment fraud, however official the documents look. The reliable reference point for any such request is the escrow account registered in Dubai REST together with the details in the SPA.

The protection carries on. Money already paid stays in the escrow account and is still released only as construction progresses, whatever the calendar says, and the 40% handover payment does not fall due until handover. Escrow protects capital while the tower is completed; it does not pay compensation for delay, which is a matter for the Sales and Purchase Agreement. With handover expected within months of the 12 October 2026 inspection, the retention held after completion and the pre-handover defect check covered in the 330 Riverside Crescent snagging inspection guide are the next protections in line.

After completion, a portion of the project funds stays in the escrow account instead of being released to the developer, as security for repairing defects that appear once buyers take possession. The amount and the period of that retention are not stated in the developer documents for 330 Riverside Crescent; the Sales and Purchase Agreement and the Dubai Land Department are the references for both.

If the Dubai Land Department cancels a registered project, RERA takes control of the escrow account, and refunds to buyers come out of the protected balance under DLD supervision. That safeguard reaches only money paid into the registered account; funds sent anywhere else sit outside it. The 330 Riverside Crescent register reading stood at 67.81% on 12 October 2026, with the superstructure recorded as completed, so the project is well advanced, yet the mechanism applies at every stage. The DLD framework behind this safeguard is covered in the Dubai Land Department guide.

The Dubai Land Department register and the RERA monitoring report list the developer of project 2788 as SOBHA L.L.C, developer number 966. Sobha Realty is the name under which 330 Riverside Crescent is marketed.

The DLD register for project 2788 records construction starting on 12 October 2023, registration on 3 January 2024 and a reading of 67.81% at the inspection dated 12 October 2026, and the RERA report for that inspection records the superstructure as completed. Sobha Realty describes its approach as a Backward Integration model, with design, engineering and contracting, material sourcing and quality control kept in house. The developer's wider history is covered on its developer profile page.

The 67.81% reading, recorded at the DLD inspection dated 12 October 2026 against a previous reading of 60.37% that the register shows without a date, is the register's measure of how much of the tower has been built, and escrow releases to the developer follow that progress. At this inspection the RERA report lists the enabling works, foundations, substructure and superstructure as completed, with envelope, MEP and interior trades still under way. Each reading is tracked on the 330 Riverside Crescent construction updates page.

Escrow safeguards money paid toward the purchase price into the registered account while the tower is built. It does not hold the 4% DLD registration fee, it cannot protect money sent to any other account, it does not compensate for changes to the handover timetable, which the Sales and Purchase Agreement governs, and it is not an inspection of build quality: defects are handled through the retention and the handover inspection process.