Binghatti Spectre Escrow Account

Arab Bank For Investment & Foreign Trade Almasref P.J.S.C., known as Al Masraf, holds the escrow account for Binghatti Spectre, account number 6190*****150 (the full number is in the Escrow Details section above). The account is registered under DLD project number 4370, and the RERA inspection report dated 9 February 2026 names the same bank as the trust account bank.

Binghatti Spectre follows a 10/40/50 plan. The 10% down payment and the 40% paid during construction go into the project escrow account, and the bank releases construction-linked funds to Binghatti only against progress verified by DLD inspections. The remaining 50% is due on handover, expected in Q4 2028, and the 4% DLD registration fee that accompanies the down payment is paid to the Dubai Land Department, outside the escrow account. Instalment dates for the 40% are set in the Sales and Purchase Agreement.

At the inspection of 9 February 2026 the DLD register showed 0% for Binghatti Spectre, the inspection note recorded no construction activities started at that time, and the RERA Progress Status read N/A. The construction start of 1 September 2026 and the registration of 13 October 2026 shown in the register both fall after that inspection. A 0% baseline means no construction-linked value had been verified at that reading, so payments held in escrow at that point were not yet eligible for progress-based release. On 25 October 2026 that reading was 258 days old, and newer readings are tracked on the Binghatti Spectre construction updates page.

The escrow account can be checked in the Dubai REST app under Services, then Project Status, by searching project number 4370 or the register name Binghatti Spectre. The Escrow Account panel there shows the bank and the account number, which should match both the Escrow Details section of this page and the escrow details in the Sales and Purchase Agreement.

No. The 4% DLD registration fee is paid to the Dubai Land Department at the down payment stage, alongside the 10% down payment, and is not held in the Binghatti Spectre escrow account. The escrow account holds the buyer's instalments toward the purchase price, and those instalments reach the developer only as inspections verify construction progress.

No. Every off-plan payment toward the purchase price at Binghatti Spectre belongs in the DLD-registered escrow account 6190*****150 at Al Masraf (full number in the Escrow Details section above), matching the escrow details recorded in the Sales and Purchase Agreement. Instructions that point to a personal account, a broker's account or some other company account, particularly when paired with a discount for paying outside escrow, follow the typical pattern of payment fraud however official the documents appear. Before any money moves, such an instruction is compared with the escrow account shown in Dubai REST for project 4370 and with the Sales and Purchase Agreement.

The registered completion date for Binghatti Spectre is 31 December 2028, in line with the expected Q4 2028 handover. If completion moves beyond that date, buyer money remains held in escrow, and releases still depend on progress that inspections verify rather than on the passing of the date. Escrow protects capital while the project is built; it does not pay compensation for a later completion, and any terms on that point sit in the Sales and Purchase Agreement.

RERA takes control of the escrow account if a project is cancelled, and refunds to buyers are then handled from the money held in that account under the supervision of the Dubai Land Department. That protection covers money paid into the registered account; funds sent anywhere else fall outside it. At the 9 February 2026 baseline no construction-linked releases had been verified, so this safety net carries particular weight at the earliest stage of the project. The regulatory background is covered in the Dubai Land Department guide.

Yes. Part of the funds is kept back in the escrow account beyond completion so that defects found after handover can be repaired. For Binghatti Spectre this sits alongside the 50% balance due on handover, so a large share of the price is tied to delivery of the finished unit rather than to the construction phase. The exact retention terms are set by the escrow framework and the Sales and Purchase Agreement.

The DLD register and the RERA inspection report list Binghatti Developers FZE, developer number 1051, as the registered developer of Binghatti Spectre, project number 4370. Binghatti is the marketing name used for the project, and Binghatti Developers FZE is the name recorded against the project in the DLD register.

The Binghatti Spectre brochure describes Binghatti Holding Limited as founded in 2008 with roots as a contractor, with a total portfolio exceeding 100 projects valued at nearly AED 100 billion, more than 50 projects delivered to date and a pipeline of approximately 30 million sq ft of sellable area. These are the developer's own figures and the brochure does not name the delivered projects, so they describe scale rather than a project-by-project delivery record.

The escrow account protects buyer payments made into it, and only those. It does not cover money transferred to any other account, it does not hold the 4% DLD registration fee (that fee goes to the Dubai Land Department), and it does not compensate buyers if completion moves past the registered date of 31 December 2028. It also does not fix the handover date itself: the expected Q4 2028 handover and any related terms sit in the Sales and Purchase Agreement.