AVA at Palm Jumeirah Dorchester Collection Dubai Escrow Account

Ajman Bank P.J.S.C. holds the escrow account for AVA at Palm Jumeirah, account number 0111*****016 (shown in full in the Escrow Details section above). The account sits under DLD project number 2382, registered on 11 May 2022, with AVA RESIDENCES REAL ESTATE DEVELOPMENTS L.L.C (DLD developer number 1407) as the registered developer of the OMNIYAT tower.

Buyer installments collect in the escrow account at Ajman Bank P.J.S.C. and pass to the developer only against construction progress verified by DLD inspections. The dates on which installments fall due are set by the Sales and Purchase Agreement, but the timing of each release is set by the inspection record for project 2382, so money paid ahead of the works stays in the account until the site catches up with it.

AVA is at the near-completion stage. The DLD inspection of 26 August 2026 recorded 95.93 percent construction progress, up from 91.02 percent on 18 June 2026, with enabling, foundation and structure works listed as completed and the external envelope, MEP, internal finishes and external works still progressing. With 4.07 points left, most construction-linked releases can already have been drawn against verified work, so the funds still moving through escrow are chiefly the completion payment and the retention held after completion. The full inspection history is tracked on the AVA at Palm Jumeirah construction updates page.

Yes. The DLD record lists a registered completion date of 30 June 2026, which has passed, while the project remains Active with 95.93 percent progress recorded on 26 August 2026 and no revised date registered. Escrow protection does not expire with a calendar date: funds stay in the account and are released only against verified progress, and a share of the funds is retained in escrow after completion as a reserve for defect repairs. The handover checks that give that retention its practical weight are covered in the AVA at Palm Jumeirah snagging inspection guide. Escrow protects capital while a project completes; it does not compensate for delay, and any delay terms sit in the Sales and Purchase Agreement.

No. Every off-plan payment for AVA belongs in the DLD-registered escrow account 0111*****016 at Ajman Bank P.J.S.C. (the full number sits in the Escrow Details section above), as recorded in the Sales and Purchase Agreement. Instructions naming any other beneficiary, whether an individual, a broker or a second company account, and especially instructions sweetened with a discount for bypassing escrow, are the recognisable signature of payment diversion fraud. On AVA that risk concentrates on the completion payment, which carries half of the purchase price under the plan of record. The reliable reference points are the escrow account shown in Dubai REST for project 2382 and the escrow details 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. Only money paid into the registered account sits inside that protection. With 95.93 percent of the works recorded by DLD on 26 August 2026, AVA stands well beyond the point where cancellation is a practical risk, though the safeguard covers every registered project whatever its stage. The wider regulatory framework is explained in the Dubai Land Department guide.

Under OMNIYAT's 2022 plan of record, a 10 percent booking fee, 15 percent on signing the SPA, 10 percent at 12 months and 15 percent at 24 months of SPA signing, and 50 percent on completion, every installment is paid into the escrow account, while the bank releases money to the developer only against DLD-verified progress. The installment dates follow the SPA; the releases follow the site. The 4% DLD registration fee is charged in addition to these installments, a booking amount of AED 50,000 is deducted from the down payment, and terms for any remaining residence are set by OMNIYAT at the time of booking.

Oqood is the Dubai Land Department's interim register for off-plan property. Registering an AVA sale in Oqood records the buyer's interest in the residence against DLD project 2382 before completion, ahead of the title deed that follows handover. The 4% DLD registration fee is payable on that registration and is calculated on the purchase price.

Yes. A retention is held back in the escrow account after completion as a reserve for defect repairs, so part of the funds remains under DLD supervision into the first period after handover. The size and duration of that retention follow the applicable regulations and the Sales and Purchase Agreement. For AVA, where handover was scheduled for Q2 2026 and the register still showed the project Active on 26 August 2026, the retention period will run alongside each owner's first defect inspection of the residence.

Three finished OMNIYAT buildings form the track record behind AVA: One at Palm Jumeirah, Dorchester Collection, on Palm Jumeirah (94 residences), The Opus Residences by OMNIYAT in Business Bay (96 residences), and The Lana Residences, Dorchester Collection, at Marasi Bay in Business Bay (39 residences), each listed as ready. The record used here gives no delivery years. AVA itself has not yet been delivered: it remained Active on the DLD register at 95.93 percent on 26 August 2026.

The Dubai REST app shows it directly. Under Services and Project Status, a search for project number 2382 or "Ava At Palm Jumeirah By Omniyat" opens the project record, and its Escrow panel lists the bank and account number. Those details correspond to Ajman Bank P.J.S.C. and account 0111*****016 in the Escrow Details section of this page, and the escrow details in the Sales and Purchase Agreement are the second reference point.