Lotus at Dubai Creek Harbour Escrow Account

Dubai Islamic Bank (Public Joint Stock Company) holds the escrow account for Lotus at Dubai Creek Harbour, account number 0015*****172801 (shown in full in the Escrow Details section above). The account is recorded against DLD project number 2377, which was registered with the Dubai Land Department on 29 March 2022.

Lotus buyer instalments were held in the escrow account and paid out to the developer in stages as DLD inspections verified construction progress, so money followed completed work rather than the payment calendar. The DLD project register shows 100 percent current progress at the inspection dated 4 October 2024, up from a previous, undated reading of 94.56 percent, which places Lotus at the end of its construction-linked release cycle. That reading was 719 days old on 23 September 2026. The full inspection record is tracked on the Lotus construction updates page.

No. Any amount owed to the developer under a Lotus off-plan contract is payable only into the DLD-registered escrow account 0015*****172801 at Dubai Islamic Bank (the full number sits in the Escrow Details section above), which is the account named in the Sales and Purchase Agreement. Instructions that redirect money to an agent, an individual or another company, often sweetened with a discount for paying outside escrow, are the signature of payment-diversion fraud, whatever letterhead they arrive on. The account shown in Dubai REST and the account in the Sales and Purchase Agreement are the two reference points any such instruction has to match before a transfer is made.

The Dubai REST app shows it directly. Under Services and then Project Status, a search for project number 2377 opens the Lotus record, and its Escrow Account panel lists the bank as Dubai Islamic Bank (Public Joint Stock Company) together with the account number. That number should match the Escrow Details section of this page and the Sales and Purchase Agreement digit for digit. Any difference is a reason to pause a transfer, not to proceed with it.

Oqood is the Dubai Land Department register for off-plan sales. Each Lotus apartment sold before completion was recorded there, which tied the buyer's contract to project 2377 and its escrow account. Once a project is completed and a unit is fully paid, the off-plan registration is replaced by a title deed issued by the Dubai Land Department in the owner's name, and a buyer of a completed Lotus apartment receives title through a registered transfer rather than a new Oqood entry. Registration and transfer procedures are covered in the Dubai Land Department guide.

No. The 4% DLD registration fee is a government fee paid to the Dubai Land Department and is separate from the purchase price. On a Lotus off-plan booking it was paid alongside the 10 percent deposit (10% + 4% DLD), with the deposit going to escrow and the fee going to the Dubai Land Department. On a completed apartment bought today, the fee is settled at registration of the transfer. At no stage is it a payment into the project escrow account.

Yes, in the way escrow is designed to. Funds stayed in the account and were released only against verified progress, whatever the calendar said, so late work could not be paid for in advance. Escrow protects capital; it does not itself pay compensation for delay, and any delay terms sit in the Sales and Purchase Agreement. For Lotus the question is now historical: the DLD register recorded 100 percent on 4 October 2024, ahead of the completion date registered with DLD. As a separate safeguard, RERA takes control of the escrow account if a project is cancelled.

Escrow protects buyer payments made into the registered account while a project is built; it is not a guarantee of everything around a purchase. It does not protect money sent to any other account, it does not compensate for delays, and it does not guarantee rental income, resale value or service charge levels. Finish quality is handled separately, through the contract's defect terms and a retention share held in escrow after completion, and a resale between two owners is settled at transfer rather than through the Lotus project account.

For a completed Lotus apartment, escrow is mainly a matter of record rather than a live safeguard on the purchase price. Its protective work happened during construction, when instalments were held against verified progress. A buyer today pays under the terms of the sale contract, and title passes through a registered transfer with the Dubai Land Department. The escrow record still matters: it confirms the project was registered as number 2377, built under DLD supervision and recorded as Finished, and any request to pay into a Lotus project account can be checked against the Dubai Islamic Bank account shown in Dubai REST.

Yes. Lotus itself is recorded as Finished, with 100 percent on the DLD register at the inspection of 4 October 2024. Beyond Lotus, Emaar's recent Dubai deliveries include Creek Palace (March 2026), Seagate (September 2025), June (June 2025) and Bliss (November 2024), each built on its own DLD-registered escrow account.