Binghatti Ruby Escrow Account

The National Bank of Fujairah PSC holds the escrow account for Binghatti Ruby, account number 0129*****778 (the full number is shown in the Escrow Details section above). The account belongs to DLD project number 3533, which the Dubai Land Department registered on 7 April 2025.

No. Off-plan payments for Binghatti Ruby belong in the DLD-registered escrow account 0129*****778 at the National Bank of Fujairah (the full number is in the Escrow Details section above), as recorded in the Sales and Purchase Agreement. A request to pay a personal account, an agent's account or a different company account, particularly one that offers a discount for paying that way, matches the usual pattern of payment-diversion fraud, however official the documents look. Such a request is checked against the escrow account shown in Dubai REST and against the Sales and Purchase Agreement before any money is sent.

In the Dubai REST app, the Project Status service lists Binghatti Ruby under project number 3533 with the status Active, and names Binghatti Developers FZE (developer number 1051) as the registered developer. The escrow panel for the project shows The National Bank of Fujairah PSC and the same account number that appears on this page. The bank and account number on any payment request are expected to match that panel and the Sales and Purchase Agreement exactly.

The 50% construction share is paid according to the developer's schedule in the Sales and Purchase Agreement and is held in the escrow account. Funds are released to the developer in stages as construction progress is inspected and recorded by the Dubai Land Department. The project register showed 46.43% at the inspection dated 23 July 2026, against an earlier reading of 20.04% that the record lists without a date. The inspection history for the tower is tracked on the Binghatti Ruby construction updates page.

No. Binghatti Ruby buyers pay the 4% DLD registration fee to the Dubai Land Department when the purchase is registered, together with the 20% booking payment, and the fee never sits in the escrow account. Escrow holds the purchase price instalments only; the fee is a government charge for registering the purchase.

The final 30% of the Binghatti Ruby purchase price is due on handover, and the stated handover target is Q4 2026. It is paid to the account named in the Sales and Purchase Agreement, which is expected to match the registered escrow account in Dubai REST. After completion, a retention portion remains in escrow to cover the repair of defects identified after handover.

The registered completion date in the Binghatti Ruby DLD record, 28 February 2026, has passed. The project remains registered and Active in Dubai REST, the escrow account stays in place, and funds continue to be released only against inspected progress. A developer can apply to the Dubai Land Department to extend a registered completion date. Q4 2026 is the stated handover target for this project, and the current completion date is confirmed with the developer and on Dubai REST.

Yes, the protection continues. Money stays in the escrow account and is still released only against inspected progress, whatever the calendar shows. Escrow protects capital while construction continues; it does not compensate buyers for a later handover, and any such terms sit in the Sales and Purchase Agreement. The retention held in escrow after completion still applies at handover.

Should the Dubai Land Department cancel a registered project, RERA takes control of the escrow account and buyer refunds are processed from the protected funds under DLD supervision. That protection covers money paid into the registered account; payments sent to any other account fall outside it. The DLD framework behind this protection is set out in the Dubai Land Department guide.

No. The escrow account is not a deposit that an individual buyer can draw on request. Funds leave it as releases to the developer against inspected progress, or as refunds processed under DLD supervision if the project is cancelled. Any refund or exit arrangement for a single buyer is governed by the terms of the Sales and Purchase Agreement.

The Binghatti Ruby escrow account protects purchase payments made into it. It does not guarantee a completion date, does not compensate for a later handover, and does not cover money sent to any other account. The 4% DLD registration fee and any agency or service fees sit outside it, and handover timing and remedies are set by the Sales and Purchase Agreement.

Binghatti's brochure for Binghatti Ruby describes the company as a privately held Emirati developer with more than 60 projects valued at more than AED 40 billion, and states that it delivered 25,000 units before 2024. These are the developer's own figures rather than DLD register data. For Binghatti Ruby itself, the register records construction starting on 1 January 2025, registration on 7 April 2025 and a reading of 46.43% on 23 July 2026. The developer's portfolio is covered in the Binghatti developer profile.