350 Riverside Crescent Escrow Account

The 350 Riverside Crescent escrow account is held at Emirates NBD Bank (P.J.S.C) under account number 0204*****5015 (the full number is in the Escrow Details section above). The account is linked to DLD project number 3083, which was registered on 03 June 2024.

The 20% down payment, the 60% due during construction and the 20% due on completion are all paid into the project escrow account. Emirates NBD releases those funds to Sobha Realty only against construction progress recorded by DLD inspections. Each Sales and Purchase Agreement fixes when the construction 60% falls due, and completion is expected in Q4 2027.

The DLD inspection dated 18 August 2026 recorded 57.85% construction progress on the project register, up from a previous reading of 50.07% that the register shows without a date. Because releases to the developer follow recorded progress, money tied to the work still outstanding stays in the account until later inspections record that work. Each new reading is tracked on the 350 Riverside Crescent construction updates page.

Yes. The calendar does not change the release rule: money already in escrow stays there and moves to the developer only as inspections record further progress. Escrow protects the capital paid into it; it does not pay compensation if completion moves, and any terms covering a later completion sit in the Sales and Purchase Agreement.

No. All off-plan payments for 350 Riverside Crescent belong in the DLD-registered escrow account 0204*****5015 at Emirates NBD (the full number is in the Escrow Details section above), as recorded in the Sales and Purchase Agreement. Instructions to send money anywhere else, whether to an individual, a broker or a second company account, are the standard signature of payment-diversion fraud, and a discount offered for paying outside escrow is a further warning sign. The registered account shown in Dubai REST and the escrow clause of the agreement are the two references such a request is measured against.

RERA takes control of the escrow account if a registered project is cancelled, and refunds to buyers are then paid from the protected funds under Dubai Land Department supervision. That safeguard reaches only money paid into the registered account; payments made elsewhere fall outside it. 350 Riverside Crescent stands at 57.85% on the register, past the halfway mark, and the safeguard applies at every stage. How the DLD regulates off-plan escrow more broadly is covered in the Dubai Land Department guide.

No. The 4% DLD registration fee is a charge by the Dubai Land Department for recording the purchase, and it is not held in the project escrow account. Only the purchase price itself, starting with the 20% down payment, is paid into the Emirates NBD escrow account.

The Dubai Land Department project register and the RERA progress report list the developer of project 3083 as SOBHA L.L.C, developer number 966. The tower is marketed by Sobha Realty as part of its Riverside Crescent cluster in Sobha Hartland 2.

The Dubai REST app shows registered escrow details under Services, then Project Status. A search for project number 3083 or the name 350 Riverside Crescent opens the project record, where the Escrow Account panel lists the bank and the account number. Those details are expected to match the escrow clause of the Sales and Purchase Agreement exactly, digit for digit.

A retention portion of the escrow balance stays in the account after completion instead of being released to the developer straight away. It exists to cover the repair of defects that appear once buyers take over their apartments, and its release follows the escrow arrangements recorded for the project and the Sales and Purchase Agreement.

The escrow account protects purchase payments made into it. It does not protect money sent to any other account, it does not hold the 4% DLD registration fee, and it does not compensate for a later completion date, which is governed by the Sales and Purchase Agreement. It also does not vouch for the specification or finish of an individual apartment, which is checked at handover.

The project's own record shows construction starting on 10 May 2024, DLD registration on 03 June 2024 and a register reading of 57.85% on 18 August 2026, with the RERA report listing the enabling, foundation and substructure packages as done and the structure at an advanced stage. Sobha Realty describes its method as backward integration, with design, engineering, contracting, material sourcing and quality control kept in-house.