Bugatti Residences Escrow Account

Sharjah Islamic Bank holds the escrow account for Bugatti Residences by Binghatti, account number 0011*****1077 (shown in full in the Escrow Details section above). The account is linked to DLD project number 2547, registered on 24 May 2023 under Binghatti Developers FZE, developer number 1051.

Buyer payments for Bugatti Residences collect in the escrow account first. The bank releases funds to the developer in stages linked to construction progress recorded through Dubai Land Department inspections, not according to the sales calendar or the payment due dates, so money paid ahead of the works stays in the account until the matching progress is logged.

The DLD register reading dated 23 September 2026 records 65.57 percent progress for Bugatti Residences, up from 52.29 percent on 20 January 2026. Because releases from the escrow account are linked to recorded progress, the construction-linked funds matching the remaining 34.43 percentage points stay tied to future inspections. Individual release amounts are held by the bank and the Dubai Land Department and are not published. The full reading history is tracked on the Bugatti Residences construction updates page.

Yes. The DLD register lists 31 December 2025 as the registered completion date for project 2547, and construction has continued past it, with the expected handover in Q4 2026. Funds already in escrow remain there and continue to be released only against recorded progress. Escrow protects capital rather than compensating for time; any delay terms sit in the Sales and Purchase Agreement. If the Dubai Land Department were to cancel a registered project, RERA takes control of the escrow account and buyer refunds are processed from the protected funds under DLD supervision, a framework explained in the Dubai Land Department guide. Closer to handover, the retention portion held in escrow after completion works alongside the pre-handover checks covered in the Bugatti Residences snagging inspection guide.

No. Every off-plan payment for Bugatti Residences belongs in the DLD-registered escrow account 0011*****1077 at Sharjah Islamic Bank (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, a broker's account or a different company account, particularly one sweetened with a discount for paying directly, matches the standard pattern of payment-diversion fraud, however official the documents appear. Money sent to any other account sits outside the escrow framework and its protections.

Under the indicative 20/50/30 plan, to be confirmed in the Binghatti SPA, the final 30 percent is due at handover, expected in Q4 2026. Like the booking and construction payments, it belongs in the project escrow account at Sharjah Islamic Bank recorded for project 2547 in the Sales and Purchase Agreement, and the account named in the handover payment notice should match the Escrow Details section above and Dubai REST. After completion, a retention portion remains in escrow to cover defect repairs.

No. The 4% DLD registration fee is paid to the Dubai Land Department at booking, separately from the 20 percent booking share, and does not enter the escrow account. It is a government registration charge rather than a payment toward the residence, so it never forms part of the balance released against construction progress.

In the Dubai REST app, the Project Status service under Services lists project number 2547, registered as "Bugatti Residences By Binghatti". Its Escrow section shows the bank name, Sharjah Islamic Bank, and the escrow account number, which match the Escrow Details section above and the escrow details in the Sales and Purchase Agreement.

An off-plan Bugatti Residences unit is recorded in the Dubai Land Department's interim register, known as Oqood, once the sale is registered, and that registration ties the buyer's payments to the project escrow account. The title deed follows after completion and handover, once the purchase price is settled and the transfer is completed with the Dubai Land Department; exact timing and conditions are set by the SPA and DLD procedures.

The escrow account protects buyer payments made into it for the construction of Bugatti Residences. It does not compensate for delays, guarantee resale prices or rental returns, or protect money sent to any other account. It also does not confirm the finish quality of an individual residence: that is the purpose of a handover inspection, and the developer's obligations on defects and delays are set out in the SPA.

The register for project 2547 records construction starting on 1 March 2023, a first inspection at 0 percent on 18 May 2023, registration on 24 May 2023, and readings of 20.04 percent on 6 December 2024, 52.29 percent on 20 January 2026 and 65.57 percent on 23 September 2026. It also lists a registered completion date of 31 December 2025, which passed while construction continued. Each of these entries can be checked against project 2547 in Dubai REST.