Burj Binghatti Jacob & Co Residences Escrow Account

Sharjah Islamic Bank holds the escrow account for Burj Binghatti Jacob & Co Residences, account number 0011*****1056 (shown in full in the Escrow Details section above), opened under DLD project number 2480 when the project was registered in November 2022.

Binghatti Developers FZE is the legal entity registered with the Dubai Land Department for Burj Binghatti Jacob & Co Residences under developer number 1051, while Binghatti is the brand used across sales and marketing material. Both names refer to the same developer. The project record and the escrow account in Dubai REST are held under the registered entity, so a payment instruction issued in the name of a third company is not connected to this project.

The plan is 20 percent on booking, 50 percent in dated monthly instalments between September 2026 and May 2027, and 30 percent on completion. Each of those payments is made into the DLD-registered escrow account rather than to the developer directly. The instalment dates are fixed by calendar in the Sales and Purchase Agreement, while the release of those funds to the developer follows construction progress certified by DLD inspections rather than the payment calendar.

No. The 4 percent Dubai Land Department registration fee is paid to the Land Department to register the unit under Oqood, and the AED 5,000 administration fee is paid to the developer's administration. Neither sits inside the project escrow account, which holds purchase price instalments only.

The DLD inspection dated 22 December 2025 certified 34.56 percent completion, up from 23.04 percent at the previous inspection. The inspection notes record enabling, foundation and substructure works as complete, with superstructure, finishing and MEP works in progress. Ongoing detail is tracked on the Burj Binghatti Jacob & Co Residences construction updates page.

The protection continues for as long as the funds remain in the account. Money already paid stays in escrow and is released only against certified construction, whatever the calendar does, and instalments not yet due are still governed by the same mechanism. Escrow safeguards the capital while a project completes; it does not itself compensate for a delayed handover, and any compensation terms sit in the Sales and Purchase Agreement.

No. Every off-plan payment for Burj Binghatti Jacob & Co Residences must go into the DLD-registered escrow account 0011*****1056 at Sharjah Islamic Bank (the full number sits in the Escrow Details section above), exactly as recorded in the Sales and Purchase Agreement. A request to send funds to a personal account, an agent's account, or an alternative company account, particularly one paired with a discount for paying directly, follows the standard pattern of payment fraud regardless of how official the paperwork appears. Any such request should be checked against the escrow account registered in Dubai REST and the details in the Sales and Purchase Agreement before any funds are sent.

If the Dubai Land Department cancels a registered project, RERA takes control of the escrow account and buyer refunds are processed from the protected funds under DLD supervision. This is the practical reason for paying only into the registered account: funds sent anywhere else sit outside that protection entirely and are not part of the refund process. The wider framework is explained in the Dubai Land Department guide.

Yes, Burj Binghatti Jacob & Co Residences is a freehold project, open to all nationalities.

Residences start from AED 8.20 million (approx USD 2.23 million), which is above the AED 2 million property investment threshold for the 10-year Golden Visa, so eligibility applies from the entry tier upward rather than only at the higher tiers. The full requirements and application timing are covered in the Burj Binghatti Jacob & Co Residences Golden Visa guide.