Address Residences The Bay at Emaar Beachfront Escrow Account

Commercial Bank of Dubai (PSC) holds the escrow account for Address Residences The Bay, account number 1005*****6 (revealed in full in the Escrow Details section above). The account sits under DLD project number 2397, registered with the Dubai Land Department on 2 June 2022, and the same bank is named as the trust account bank on the RERA inspection report of 15 July 2026.

In the Dubai REST app the project is listed under its register name, Address The Bay, with project number 2397 and Emaar Development P.J.S.C. (developer number 1211) as the registered developer. A search by either the number or the register name opens the project record, where the escrow bank and account number can be compared with the Escrow Details section of this page and with the Sales and Purchase Agreement. The register name is shorter than the marketing name, so the project number is the more reliable match.

Money paid into the escrow account does not become Emaar's on arrival. The bank releases it against construction progress inspected under the Dubai Land Department framework, with the project consultant signing off each milestone, so funds leave the account only as the tower advances. The latest Dubai REST register reading for the project is 70.08%, dated 15 July 2026, with the structure works recorded as complete.

On Emaar's 2022 launch plan, 10% of the price falls due at 80% construction completion and the final 20% at 100% construction completion, which the plan estimated for December 2026. As plain arithmetic, not a developer statement, the 70.08% register reading of 15 July 2026 sits past the 60% milestone and short of the 80% one, so those two payments, 30% of the price together, were still ahead on that reading. Both are paid into the escrow account like every earlier instalment, and their trigger dates follow the project consultant's milestone sign-off rather than the Dubai REST figure. Each new reading is tracked in the Address Residences The Bay construction updates guide.

No. Payments toward an Address Residences The Bay residence are protected only when they go into the DLD-registered escrow account at Commercial Bank of Dubai (PSC), number 1005*****6, revealed in full in the Escrow Details section above and recorded in the Sales and Purchase Agreement. A request to send money to a personal account, a broker's account or a different company account, particularly one offered with a discount for paying outside escrow, fits the usual pattern of payment-diversion fraud however official the paperwork appears, and money sent that way sits outside the escrow protection.

No. The 4% DLD registration fee is paid to the Dubai Land Department at booking, alongside the 10% down payment, and it never enters the project escrow account. Only payments toward the purchase price, from the down payment through to the completion instalment, go into the escrow account at Commercial Bank of Dubai (PSC).

When a unit is bought from Emaar's own stock, every payment toward the price goes into the project escrow account. On a resale before handover, known as an assignment, the amount agreed with the selling buyer for what has already been paid, plus any premium, is settled between the two parties through the Dubai Land Department transfer process rather than paid into escrow, and the instalments still owed to Emaar after the transfer continue into the escrow account at Commercial Bank of Dubai (PSC). Emaar's conditions for approving an assignment are set out in the Sales and Purchase Agreement.

Oqood is the Dubai Land Department's interim register for off-plan units, and an Address Residences The Bay residence is recorded there after booking, once the Sales and Purchase Agreement is signed and the booking payments are made. The title deed follows completion, once the final instalment is settled and the handover formalities with Emaar and the Dubai Land Department are finished. The exact steps and timing are set by Emaar and the DLD around handover, which is expected in Q4 2026.

Yes. The escrow protection is not tied to a calendar date: funds stay in the account and are released only against inspected progress, whether handover lands in the expected Q4 2026 window or later. Escrow protects capital rather than compensating for lateness, and any delay terms sit in the Sales and Purchase Agreement. After completion, a retention portion held in the account supports defect repairs, and the defect check at handover is covered in the Address Residences The Bay snagging inspection guide.

Should a registered project be cancelled, RERA takes control of the escrow account, and refunds to buyers are paid out of the funds it holds under Dubai Land Department supervision. That safeguard reaches only money paid into the registered account, so payments made anywhere else fall outside it. With the 15 July 2026 register reading at 70.08% and the structure works recorded as complete, the tower is well beyond the stage where cancellation is a practical concern, though the mechanism applies at every stage. The framework behind it is described in the Dubai Land Department guide.

The escrow account protects money paid toward the purchase price while the tower is built. It does not cover payments sent to any other account, agency commissions, or service charges after handover, and it neither compensates buyers for delays nor guarantees resale prices or rental income. Delay terms and Emaar's other obligations are set by the Sales and Purchase Agreement, and the condition of the finished residence is assessed at handover rather than through the escrow account.