City Walk Northline 1 Escrow Account

The City Walk Northline 1 escrow account is held by First Abu Dhabi Bank P.J.S.C., account number 4031*****4662015 (shown in full in the Escrow Details section above). The account is tied to DLD project number 2970, registered on 1 March 2024, and First Abu Dhabi Bank P.J.S.C. is also the trust account bank named on the project's RERA inspection report.

Buyer payments for City Walk Northline 1 go into a DLD-registered escrow account held for the project alone, and the Dubai Land Department supervises it; they do not pass through the developer's own accounts. The bank releases money to the developer in stages, only as DLD inspections verify construction progress on site, so funds paid ahead of the works remain in the account until the works catch up.

The registered account appears in the Dubai REST app under Services, then Project Status. Searching project number 2970 or the name City Walk Northline 1 opens the project record, and its Escrow Account panel lists the bank and the account number. Those details should be identical to the escrow details in the Sales and Purchase Agreement and to any payment instruction received.

No. Off-plan payments for City Walk Northline 1 belong in the DLD-registered escrow account 4031*****4662015 at First Abu Dhabi Bank P.J.S.C. (the full number sits in the Escrow Details section above), as recorded in the Sales and Purchase Agreement. A request to pay a personal account, an agent, or a different company account, particularly one that comes with a discount for paying outside escrow, matches the usual pattern of payment-diversion fraud however genuine the paperwork appears. The registered account in Dubai REST and the Sales and Purchase Agreement are the two references any such request is checked against.

No. The 4% DLD registration fee is paid to the Dubai Land Department at booking, alongside the 20 percent booking payment, and it registers the purchase in the DLD's off-plan register (Oqood) rather than funding construction. The 20 percent booking payment and the later payments toward the price go to the escrow account; the fee does not.

The 55 percent construction-period share of the 20/55/25 plan is paid into the escrow account on the instalment schedule set out in the Meraas Sales and Purchase Agreement. Payment dates and release dates are separate: the bank releases funds to the developer only as DLD inspections verify progress. The latest DLD register reading is 38.09 percent on 19 August 2026, up from 26.73 percent at the previous inspection, and each reading is tracked on the City Walk Northline 1 construction updates page.

Yes. Escrow protection does not lapse with the calendar. Money in the escrow account continues to be released only against verified construction progress, whether handover arrives in the expected Q3 2027 or later. Escrow protects capital rather than compensating for lost time: any delay terms sit in the Sales and Purchase Agreement. After completion, escrow rules also keep a retention amount back to cover defect repairs.

Should the Dubai Land Department cancel the City Walk Northline 1 registration, RERA takes control of the escrow account; refunds to buyers are then handled from the money held in it under DLD supervision. That protection covers payments made into the registered account only; money sent to any other account sits outside it. How DLD regulates escrow across Dubai is covered in the Dubai Land Department guide.

Meraas, the developer marketing City Walk Northline 1, names BVLGARI Residences and Bluewaters Residences among its destinations in the developer brochure. BVLGARI Residences on Jumeirah Bay Island had its first handovers in February 2018, and the first phase of Bluewaters Residences on Bluewaters Island was handed over in February 2019. City Walk Northline 1 itself was registered with the DLD on 1 March 2024, construction started on 10 August 2024, and handover is expected in Q3 2027.

The DLD register and the RERA inspection report list CITYWALK RESIDENTIAL 1 L.L.C, developer number 1109, as the registered developer of City Walk Northline 1 (project number 2970), while the project is marketed under the Meraas name. The registered entity is the name shown on the official DLD project record, alongside the escrow account details.

The escrow account protects buyer capital paid into it. It does not compensate for delays, which are governed by the Sales and Purchase Agreement, and it does not guarantee the Q3 2027 handover estimate. Money sent to any account other than the registered escrow account falls outside its protection, and the 4% DLD registration fee is paid to the Dubai Land Department rather than into escrow.