Binghatti Luxuria Escrow Account

Mashreq Bank PSC holds the escrow account supplied for Binghatti Luxuria, account number 0195*****880 (shown in full in the Escrow Details section above). The RERA inspection report for DLD project 4299 names Mashreq Bank PSC as the project's trust account bank, and the project was registered with the Dubai Land Department on 8 January 2026.

Binghatti Luxuria's 20/50/30 plan splits the price into 20% on booking, 50% during construction and 30% upon handover. The booking payment and the construction instalments are paid into the escrow account, and Mashreq Bank releases funds to the developer only against construction progress recorded through DLD inspections. The timing of the 50% construction share follows the developer's schedule in the Sales and Purchase Agreement, and the final 30% falls due at handover, expected in Q3 2027.

The DLD register reading dated 17 September 2026 shows 7.04% progress, up from a previous inspection reading of 0%, and the RERA inspection report of the same date records enabling and foundation works ongoing at site. Because escrow releases follow recorded progress, the project is at the start of its release cycle, and most construction-linked releases depend on works that future inspections have yet to record. Each new reading is tracked on the Binghatti Luxuria construction updates page.

No. The 4% DLD registration fee goes to the Dubai Land Department at the booking stage, alongside the 20% first payment, and is not held in the Binghatti Luxuria escrow account. It is a government registration fee, so escrow protection applies to the purchase payments rather than to the fee.

The escrow protection continues. Funds already in the account stay there and are still released only against recorded construction progress, whatever the calendar shows. The registered completion date is 30 July 2027, inside the expected Q3 2027 handover window, and part of the funds is held back in escrow after completion as security for defect repairs. Escrow protects capital while the project completes but does not itself pay compensation for a later handover; those terms sit in the Sales and Purchase Agreement.

No. Every off-plan payment for Binghatti Luxuria belongs in the DLD-registered escrow account 0195*****880 at Mashreq Bank (the full number sits in the Escrow Details section above), as recorded in the Sales and Purchase Agreement. Payment fraud in off-plan sales typically arrives as a request to use a personal account, an agent's account or a newly updated company account, often with a discount offered for paying outside escrow. However official such a request looks, money sent that way falls outside escrow protection, and the account shown in Dubai REST and in the Sales and Purchase Agreement is the reference that settles the question.

RERA takes control of the escrow account if a project is cancelled, and buyer refunds are then handled from the funds held in that account under the supervision of the Dubai Land Department. That protection reaches only money paid into the registered account, which is why payments sent anywhere else sit outside it. The wider regulatory framework is covered in the Dubai Land Department guide.

The Dubai REST app shows it directly: under Services, Project Status, a search for project number 4299 or the register name Binghatti Luxuria opens the project record, and its Escrow Account panel lists the bank and account number. Those details are compared with the Sales and Purchase Agreement and the payment instruction before each transfer, and the app takes precedence over any other source, this page included.

Binghatti Developers FZE, DLD developer number 1051, is the registered developer entity recorded for project 4299 in the Dubai Land Department register and on the RERA inspection report. Binghatti is the brand name used in the project's marketing, while the registered entity is the name the Dubai Land Department record carries.

According to Binghatti's own project materials, Binghatti Holding Limited was founded in 2008 with roots as a contractor, reports a total portfolio of more than 80 projects valued at over AED 80 billion (approx USD 21.8 billion), and states that it has delivered more than 50 projects to date. These are group-level figures published by the developer; Binghatti Luxuria's own record so far consists of its register entries, including the 7.04% reading of 17 September 2026. The developer's history is covered on the Binghatti developer profile.

Escrow protects the purchase payments made into the registered account at Mashreq Bank. It does not hold the 4% DLD registration fee, which is paid to the Dubai Land Department, and it offers no protection for money sent to any other account. It also does not guarantee a handover date, pay compensation for a later handover or protect against changes in market value; handover terms sit in the Sales and Purchase Agreement.