Chevalia Estate 2 at Grand Polo Escrow Account

Dubai Islamic Bank (Public Joint Stock Company) holds the escrow account for Chevalia Estate 2, account number 0016*****282001, shown in full in the Escrow Details section above. The account sits under DLD project number 4067 and was in place before the project was registered on 10 September 2025.

All of them. The booking payment and every construction instalment under the 80/20 schedule are paid into the project trust account at Dubai Islamic Bank rather than to the developer, and that account is the only destination the Dubai Land Department record holds for buyer funds on project 4067. Government registration fees charged at the Dubai Land Department sit outside the purchase price and are not paid into the escrow account.

The bank controls the account, not the developer. Funds are released in stages against construction progress recorded by Dubai Land Department inspection, so an instalment paid today does not become available to the developer until inspectors record the works that correspond to it. The reading recorded on 25 June 2026 was 4.09 percent, up from 0.55 percent at the previous inspection, and each reading is logged on the Chevalia Estate 2 construction updates page.

The Dubai Land Department, through RERA, supervises the account under the Dubai escrow law that governs off-plan sales. Opening a registered trust account is a precondition of registering a project, the bank administers the account, and RERA takes control of it if a registered project is cancelled. The framework is explained in the Dubai Land Department guide.

No. Every off-plan payment for Chevalia Estate 2 belongs in the registered escrow account at Dubai Islamic Bank, the number recorded in the Escrow Details section above and in the Sales and Purchase Agreement. A request to route money to a personal account, a brokerage account, a different company account, or an overseas account, particularly one framed as faster processing or a discount for paying outside the plan, matches the standard pattern of payment diversion fraud however authentic the paperwork appears. Any such instruction should be checked against the escrow account shown in Dubai REST and against the SPA before funds are sent.

Oqood is the Dubai Land Department register of off-plan sales. A Chevalia Estate 2 villa is entered on it after the Sales and Purchase Agreement is signed and the booking payment has been made into the escrow account, which records the buyer's interest in that specific unit while the project is under construction. The Oqood entry is converted into a title deed at the Dubai Land Department once the project completes and the unit is handed over.

Yes. The registered completion date on the DLD record is 30 June 2029, and the escrow mechanism is not tied to the calendar: funds remain in the trust account and continue to be released only against recorded construction progress, whatever the schedule does. Escrow protects the capital while the project completes; it does not itself pay compensation for a delay, and any remedy for late delivery sits in the Sales and Purchase Agreement.

If the Dubai Land Department cancels a registered project, RERA takes control of the escrow account and buyer refunds are processed from the protected balance under DLD supervision. This is the reason paying only into the registered account matters so much at an early construction stage: money that reached any other account was never inside that protection in the first place.

The Dubai REST app published by the Dubai Land Department shows the record directly. Under Services, then Project Status, searching project number 4067 or the register name "Grand Polo - Chevalia Estate 2" opens the project, and the Escrow Account panel displays the bank and the account number held on the register. Matching that panel against the escrow clause of the Sales and Purchase Agreement before each transfer is the check that catches a diverted payment instruction.