City Walk Northline 2 Escrow Account

The City Walk Northline 2 escrow account is held by First Abu Dhabi Bank P.J.S.C. under account number 4031*****4662018 (revealed in full in the Escrow Details section above). It is the trust account recorded for DLD project number 2972, which entered the Dubai Land Department register on 4 March 2024.

Under the 20/55/25 plan published by Meraas, the 20% booking payment and the 55% construction share are paid into the escrow account, and the bank releases funds to the developer only against construction progress verified on site. The remaining 25% is due on handover, estimated for Q3 2027. Instalment dates for an individual purchase come from its Sales and Purchase Agreement.

City Walk Northline 2 is in its construction stage, with a DLD register reading of 37.06% dated 19 August 2026, up from 22.62% at the previous inspection. At this stage buyer instalments are collected into the escrow account and released to the developer only as construction progress is verified on site; the 25% handover payment, due at the Q3 2027 estimate, and the retention held after completion both still lie ahead. Each new register reading is tracked on the City Walk Northline 2 construction updates page.

Yes. Money paid into the escrow account stays there until it is released against verified construction progress, whatever the calendar says, so a handover later than the Q3 2027 estimate does not move unreleased funds out of protection. Escrow protects capital but does not compensate for delay; delay terms sit in the Sales and Purchase Agreement. After completion, a retention amount also remains in escrow against defects.

No. Off-plan payments for City Walk Northline 2 belong only in the DLD-registered escrow account 4031*****4662018 at First Abu Dhabi Bank (full number in the Escrow Details section above), as recorded in the Sales and Purchase Agreement. Payment fraud on off-plan purchases usually arrives as a request to pay somewhere else: a personal account, an agent's account or a new company account, sometimes sweetened with a discount for paying direct. The only valid destination remains the account registered for project 2972 in Dubai REST and named in the Sales and Purchase Agreement.

RERA takes control of the escrow account if a project is cancelled, and buyer refunds are then handled from the funds held in that account under Dubai Land Department supervision. The protection reaches only money paid into the registered account: a payment sent anywhere else falls outside it. The regulatory framework behind this is covered in the Dubai Land Department guide.

No. The 4% DLD registration fee goes to the Dubai Land Department itself, payable at booking in addition to the 20% booking payment, and never passes through the escrow account. The escrow account receives the instalments of the purchase price as set out in the Sales and Purchase Agreement.

The 55% construction share is paid into the escrow account in instalments during the build, and the bank releases it to the developer in stages only once construction progress has been verified on site. Meraas fixes the instalment dates for each purchase in its Sales and Purchase Agreement, and a buyer purchasing after construction has started may find part of this share already due at signing.

The account can be checked in the Dubai REST app: under Services, then Project Status, a search for project number 2972 or the name City Walk Northline 2 opens the project record with its escrow bank and account number. A genuine payment instruction matches that record and the escrow details in the Sales and Purchase Agreement digit for digit.

The Dubai Land Department register and the project's inspection report list the registered developer as CITYWALK RESIDENTIAL 1 L.L.C, developer number 1109, while the project is marketed under the Meraas name. The registered name is the one recorded against project number 2972 in Dubai REST, together with the First Abu Dhabi Bank P.J.S.C. trust account.

Meraas completed first handovers at BVLGARI Residences on Jumeirah Bay Island in February 2018 and handed over the first phase of Bluewaters Residences on Bluewaters Island in February 2019. City Walk Northline 2 itself was registered on 4 March 2024, started construction on 10 August 2024 and is estimated for handover in Q3 2027.