Altus at Dubai Creek Harbour Escrow Account

Mashreq Bank PSC holds the escrow account for Altus at Dubai Creek Harbour, account number 0190*****000 (shown in full in the Escrow Details section above), opened under DLD project number 3184 when the project was registered on 9 August 2024.

The 80/20 plan means the 10 percent down payment and the eight construction instalments that follow all land in the escrow account first, not with the developer. The bank releases those funds only against construction stages certified by RERA inspections, and the closing 20 percent falls due at 100 percent construction completion, dated January 2029.

The RERA inspection dated 25 June 2026 certified 64.2 percent completion, up from 51.65 percent at the previous inspection, with the progress status recorded as Main Contract - Progressing. Enabling, foundation and structure works are complete, and internal, envelope and finishes works are progressing at different stages. Inspection by inspection detail is tracked on the Altus construction updates page.

No. Every off-plan payment for Altus at Dubai Creek Harbour must go into the DLD-registered escrow account 0190*****000 at Mashreq Bank PSC (the full number sits in the Escrow Details section above), exactly as recorded in the Sales and Purchase Agreement. A request to send funds to a personal account, an agent's account, or an alternative company account, particularly one paired with a discount for paying directly, is the standard pattern of payment fraud however official the paperwork looks. Any such request should be checked against the escrow account registered in Dubai REST and the details in the Sales and Purchase Agreement before any funds move.

The 4% DLD registration fee is the Dubai Land Department's charge for registering the sale in the buyer's name, calculated on the purchase price and paid to the department rather than into the escrow account. It sits outside the 80/20 payment plan and is separate from the instalments held in escrow. How the department applies registration, escrow and off-plan oversight is explained in the Dubai Land Department guide.

Funds are released in stages rather than on request. An independent inspector appointed for RERA verifies the works on site, certifies a completion percentage, and the bank releases against that certification, which is how the 25 June 2026 reading of 64.2 percent was recorded. Money that has not been matched by certified progress stays in the account.

The protection continues regardless of the calendar. Funds remain in the escrow account and are still released only against certified progress. Escrow protects buyer capital while a project completes, but it does not itself compensate for delay; those terms sit in the Sales and Purchase Agreement.

If the Dubai Land Department cancels a registered project, RERA takes control of the escrow account and buyer refunds are processed from the protected funds under DLD supervision. That is precisely why paying only into the registered account matters, because money sent anywhere else sits outside the protection. With 64.2 percent of construction certified at the June 2026 inspection, the structural phase of the project is behind it, and the mechanism exists regardless.