City Walk Crestlane Escrow Account

National Bank of Ras Al Khaimah (P.S.C) holds the escrow account for City Walk Crestlane, account number 0323*****4002 (shown in full in the Escrow Details section above). The same bank appears as the trust account bank on the RERA inspection report for DLD project number 3801, which was registered as City Walk Crestlane 1 on 12 June 2025.

City Walk Crestlane follows the developer's 75/25 plan: 20% on booking, six instalments totalling 55% between December 2025 and November 2027, and a final 25% in April 2029. Each instalment falls due on a calendar date and is paid into the escrow account, while the bank releases funds to the developer only against construction progress verified through inspection. The December 2025, April 2026 and September 2026 dates have already passed, so the schedule for a purchase made now is set by Meraas in the Sales and Purchase Agreement.

The DLD register reading dated 3 August 2026 shows 0.19 percent progress, up from 0 percent at the previous inspection, and the RERA inspection report of the same date records enabling works progressing on site. Releases tied to construction can only follow the progress the register records, which at 0.19 percent is close to its starting point. Each reading is tracked on the City Walk Crestlane construction updates page.

Yes. Money paid into the escrow account stays under DLD supervision and continues to be released only against verified progress, whatever the calendar says. The DLD register shows a registered completion date of 30 September 2029, five months after the April 2029 estimate. Escrow protects capital while the project completes; it does not compensate for delay, and any delay terms sit in the Sales and Purchase Agreement.

No. All off-plan payments toward City Walk Crestlane belong in the DLD-registered escrow account 0323*****4002 at National Bank of Ras Al Khaimah (P.S.C) (the full number sits in the Escrow Details section above), as recorded in the Sales and Purchase Agreement. A request to route money into an individual's account, an agent's account or another company's account, particularly one offering a discount for paying direct, matches the usual pattern of payment fraud however official it looks. The escrow record in Dubai REST and the agreement are the two references any such instruction is measured against.

Should the Dubai Land Department cancel a registered project, RERA takes control of the escrow account, and refunds to buyers are paid out of the protected funds under DLD supervision. That protection reaches only money paid into the registered account; funds sent anywhere else sit outside it. At the 0.19 percent reading of 3 August 2026, City Walk Crestlane is at enabling works, the stage at which this safety net carries the most weight. The wider DLD framework is covered in the Dubai Land Department guide.

No. The 4% DLD registration fee is paid to the Dubai Land Department at booking, alongside the 20% down payment, when the off-plan purchase is registered under Oqood. It does not pass through the escrow account, is not part of the purchase price held for construction, and is never released to the developer.

The DLD register and the RERA inspection report list the developer as CITYWALK RESIDENTIAL 1 L.L.C, developer number 1109, for project number 3801, registered as City Walk Crestlane 1. The brochure and price sheet present the same project under the Meraas name.

The City Walk Crestlane brochure names Bluewaters Residences and BVLGARI Residences among the developer's addresses. BVLGARI Residences on Jumeirah Bay Island saw its first handovers in February 2018, and the first phase of Bluewaters Residences on Bluewaters Island was handed over in February 2019. City Walk Crestlane itself was registered on 12 June 2025 and started construction on 8 September 2025.

The escrow account protects the capital paid into it. It does not guarantee resale value or rental returns, does not compensate for delay (those terms sit in the Sales and Purchase Agreement), does not cover the 4% DLD registration fee, which is paid to the Dubai Land Department, and does not reach money sent to any other account.