360 Riverside Crescent Escrow Account

Emirates NBD Bank (P.J.S.C) holds the escrow account for 360 Riverside Crescent, account number 0204*****5017 (revealed in full in the Escrow Details section above). It is the trust account bank recorded for DLD project number 3079, a registration dated 29 May 2024.

The Dubai REST app shows the escrow account of every registered project. Under Services and then Project Status, a search for project number 3079 or for 360 Riverside Crescent opens the project record, and its Escrow panel lists the bank name and the account number. Those two details should match both the payment instruction and the escrow clause of the Sales and Purchase Agreement before any transfer is made.

Buyer payments under the 60/40 plan, the 20% down payment and the 40% paid during construction, are paid into escrow before anything moves on. Money passes from the account to the developer only as DLD inspections record more of the building, never simply because a date has passed. The closing 40% is due on handover, scheduled for Q4 2027, while each buyer's Sales and Purchase Agreement fixes when the construction 40% is called.

No. The 4% DLD registration fee is a government charge for recording the purchase in the land register, paid to the Dubai Land Department in addition to the price. The escrow account receives the payments toward the apartment itself: the 20% down payment, the 40% during construction and the 40% on handover.

At the 16 September 2026 inspection, the DLD register placed 360 Riverside Crescent at 50.67%, up from a previous reading of 42.85% that the record shows without a date. RERA's progress report for that visit marks the enabling and foundation works as completed, while superstructure and substructure, the external envelope, MEP and internal works progress at different stages. Releases from escrow follow that recorded progress, and each new reading is tracked on the 360 Riverside Crescent construction updates page.

No. Every off-plan payment for 360 Riverside Crescent belongs in the DLD-registered escrow account 0204*****5017 at Emirates NBD (its full form appears in the Escrow Details section above), as recorded in the Sales and Purchase Agreement. A request to pay into a personal account, a broker'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 appear. Money sent to any other account falls outside escrow protection, and any such request can be checked against the account registered for project 3079 in Dubai REST.

The escrow protection continues whatever the calendar says. Funds remain in the account and are released only as DLD inspections record further progress, so a later completion date does not unlock money early. Escrow protects capital rather than paying compensation for time; any terms covering a later handover are set out in the Sales and Purchase Agreement.

If the Dubai Land Department cancels a registered project, RERA takes control of the escrow account, and refunds to buyers are then handled from the protected funds under DLD supervision. That safeguard reaches only money paid into the registered account; payments sent anywhere else sit outside it. The regulatory framework behind it is described in the Dubai Land Department guide.

A retention portion stays in the escrow account after completion as a reserve for defect repairs, so not all of the money reaches the developer when the keys are handed out in Q4 2027. The retention amount and period are not stated in the 360 Riverside Crescent material reviewed for this page; the Sales and Purchase Agreement and the DLD record govern them.

The Dubai Land Department record for project 3079 lists the developer as SOBHA L.L.C, DLD developer number 966, the entity registered for Sobha Realty's 360 Riverside Crescent, and escrow releases are paid to that registered developer. Sobha Realty's brochure describes a backward integration model that keeps design, engineering and contracting, material sourcing, craftsmanship and quality control within the group. The project's own dated record runs from the construction start on 10 May 2024 to the 50.67% register reading of 16 September 2026.

The escrow account protects the payments made into it. It does not guarantee a handover date, compensate for a later completion, or protect money sent to any other account, and the 4% DLD registration fee sits outside it. Finish quality, specification and handover terms are governed by the Sales and Purchase Agreement rather than by the escrow account.