Armani Beach Residences Escrow Account

Emirates Islamic Bank P.J.S.C. holds the escrow account for Armani Beach Residences, account number 3538*****4702 (the full number is displayed in the Escrow Details section above). The account belongs to DLD project number 2889, entered on the Dubai Land Department register on 03-01-2024 under the name Armani Beach Residences At Palm Jumeirah.

The plan is 10% on booking, 25% during construction in four instalments, and 65% upon handover in Q4 2027. Payments made during construction are held in the project escrow account and released to Arada only against construction progress recorded through Dubai Land Department inspections. The 4% DLD registration fee due at booking goes to the Dubai Land Department and is not part of the escrow balance. The dates and amounts of the four construction-period instalments are fixed in each buyer's sales documentation with Arada.

The Dubai Land Department register shows 10.17% as of the 20-07-2026 inspection, compared with 7.23% at the previous inspection shown in the DLD app (04-03-2026). In the July report, piling and foundations were noted as well advanced, with substructure works under way. Because escrow releases follow recorded progress, most of the construction-linked releases at this early stage still lie ahead. Each dated reading is logged on the Armani Beach Residences construction updates page.

Yes. Funds remain in the escrow account and are released only against recorded construction progress, whatever the calendar says. Escrow protects capital while the building is completed, but it does not compensate buyers for a later handover; delay terms are set out in the Sales and Purchase Agreement. The expected handover is Q4 2027, and the registered completion date on the DLD register is 31-12-2027.

No. Off-plan payments for Armani Beach Residences belong only in the DLD-registered escrow account 3538*****4702 at Emirates Islamic Bank P.J.S.C. (the full number appears in the Escrow Details section above), matching the escrow details 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 standard pattern of payment fraud, however authentic the documents appear. Any such request can be tested against the Escrow Account panel for project 2889 in Dubai REST and against the SPA before money moves.

When a registered project is cancelled by the Dubai Land Department, RERA takes control of the escrow account, and refunds to buyers are handled from the protected funds under DLD supervision. That safeguard covers money paid into the registered account; funds sent anywhere else fall outside it. At a register reading of 10.17% as of 20-07-2026, Armani Beach Residences is at an early construction stage, the period in which this safeguard carries the most weight. The wider regulatory framework is set out in the Dubai Land Department guide.

No. The 4% DLD registration fee is paid to the Dubai Land Department at booking, alongside the 10% booking payment. It is a government registration charge on top of the purchase price, so it is neither held in the project escrow account nor released to Arada.

An off-plan purchase at Armani Beach Residences is recorded on Oqood, the Dubai Land Department's interim register for off-plan sales, after booking and the signing of the Sales and Purchase Agreement. The Oqood entry ties the buyer to the residence while the building is under construction. After completion and payment of the handover balance, the registration is converted into a title deed issued by the Dubai Land Department, with handover expected in Q4 2027.

The Project Status service in the Dubai REST app lists registered projects. Searching project number 2889, or the register name Armani Beach Residences At Palm Jumeirah, opens the project record, and its Escrow Account panel shows the bank and the account number. Those details can then be matched against the Sales and Purchase Agreement and the payment request before each transfer.

The escrow account protects capital paid into the registered account while the project is built. It does not protect payments sent to any other account, it does not hold the 4% DLD registration fee, and it does not compensate buyers for a later handover or guarantee resale prices or rental returns. Delay terms and other contractual remedies sit in the Sales and Purchase Agreement, and the post-completion retention is held for defect repairs, not for changes in market value.