Binghatti Flare Escrow Account

Dubai Islamic Bank (Public Joint Stock Company) holds the escrow account supplied for Binghatti Flare, account number 0015*****595601 (shown in full in the Escrow Details section above). The same bank is recorded as the trust account bank for Binghatti Flare 01, DLD project number 4006, which was registered with the Dubai Land Department on 20 August 2025.

Instalments paid under the Sales and Purchase Agreement for Binghatti Flare go into the escrow account before anything else. The bank then pays funds out to Binghatti in stages, against construction progress recorded at RERA inspections of the site, so money moves only as the work is inspected. Binghatti Flare is sold on a 70/30 payment plan: the 20% booking payment and the 50% construction share are paid into the escrow account, with the final 30% falling due upon handover (expected in Q3 2027). No dates are attached to the construction share in the plan itself; the buyer's SPA sets when each of those payments is made.

In the Dubai REST app, the Project Status service under Services lists registered projects. Searching project number 4006 or the name Binghatti Flare 01 opens the record for the first of the two towers, with its project status, inspection readings and escrow details. The bank and account number in that record, in the Sales and Purchase Agreement and on any payment instruction should all match before a transfer.

Binghatti Flare is made up of two towers, Flare 01 and Flare 02. The escrow account on this page was supplied for Binghatti Flare and sits at Dubai Islamic Bank, the bank recorded on the register for Binghatti Flare 01 (DLD project 4006). The register record available for this page covers Flare 01 only, so the escrow account for a unit in Flare 02 is confirmed in that unit's Sales and Purchase Agreement and on the tower's own Dubai REST record.

The DLD register reading for Binghatti Flare 01 was 20% at the inspection dated 19 June 2026, against 0% at the previous inspection. The inspection report recorded enabling and foundation works completed, with superstructure, internal and MEP works progressing at different stages, and a RERA progress status of Main Contract - Progressing. The reading covers Flare 01 only, and newer inspections may since have been added on Dubai REST. Month by month detail is tracked on the Binghatti Flare construction updates page.

No. The 4% DLD registration fee on a Binghatti Flare purchase is paid to the Dubai Land Department at booking and is not held in the escrow account. The escrow account receives the purchase-price payments under the 70/30 plan, starting with the 20% booking payment and continuing with the 50% construction share; the fee is charged on top of the 20% booking payment and is not part of it.

No. Off-plan instalments for Binghatti Flare belong in the DLD-registered escrow account 0015*****595601 at Dubai Islamic Bank (the full number appears in the Escrow Details section above), as 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 that comes with a discount for paying directly, matches the usual pattern of payment-diversion fraud, however official the documents look. Such a request is checked against the escrow account on Dubai REST and against the SPA before any money moves.

Money paid into the escrow account stays there, and releases to Binghatti continue to depend on inspected construction progress rather than on the calendar. Escrow protects capital but does not compensate buyers for a change in timing: any terms on the completion date sit in the Sales and Purchase Agreement. Handover is expected in Q3 2027, and the register records a completion date of 14 July 2027 for Binghatti Flare 01. After completion, a retention portion is kept in escrow to cover defect repairs.

Under the escrow framework, RERA takes control of the escrow account if a project is cancelled, and refunds to buyers are paid from the protected balance under the supervision of the Dubai Land Department. That protection reaches only money paid into the registered account; funds sent anywhere else sit outside it. The wider regulatory framework is covered in the Dubai Land Department guide.

The developer registered with the Dubai Land Department for Binghatti Flare 01 (DLD project 4006) is Binghatti Developers FZE, developer number 1051. The project is marketed under the Binghatti name.

The escrow account protects the purchase-price instalments paid into it. It does not hold the 4% DLD registration fee, which goes to the Dubai Land Department, and it gives no protection to money sent to any other account. It does not compensate buyers if the completion date changes, since those terms sit in the Sales and Purchase Agreement, and it does not replace a careful inspection of the apartment at handover.