Riwa at Madinat Jumeirah Living Escrow Account

The Riwa escrow account is held by First Abu Dhabi Bank P.J.S.C. under account number 4031*****4662021 (the complete number is displayed in the Escrow Details section of this page). The account is recorded against DLD project number 3021, which the Dubai Land Department registered on 4 April 2024.

In the Dubai REST app, the Project Status service lists Riwa under project number 3021. Its Escrow Account panel shows the bank and the account number, and both details are expected to match this page and the escrow clause of the SPA before any transfer is made.

No. Every off-plan payment toward a Riwa unit belongs in the DLD-registered escrow account 4031*****4662021 at First Abu Dhabi Bank (revealed in full by the Show button in the Escrow Details section), as written in the Sales and Purchase Agreement. A request to pay into a personal account, an agent's account or a different company account, particularly one offering a discount for paying outside escrow, fits the usual pattern of payment fraud, however genuine the documents appear. Such a request is checked against the escrow account shown in Dubai REST and against the SPA before any money is sent.

No. The 4% DLD registration fee is paid to the Dubai Land Department at booking to register the Riwa unit under Oqood. It is a government fee charged on top of the purchase price, so it does not pass through the escrow account. The 20% down payment and every later payment toward the price are the amounts that go into escrow.

The developer's launch schedule set 20% on booking, six instalments totalling 55% between September 2024 and September 2026, and 25% on handover, dated August 2027. All six dated instalments now fall in the past, so for a purchase today the booking amount, including any catch-up on instalments already fallen due, and the remaining schedule are set by Meraas in the SPA. Whichever schedule applies, each payment toward the price is made into the escrow account.

Funds move from the escrow account to the developer only against construction progress verified on site under Dubai Land Department supervision, not on the dates buyers pay. The latest DLD register reading for Riwa, dated 20 July 2026, shows 12.52 percent progress, up from 6.49 percent at the previous inspection. Each new reading is tracked on the Riwa construction updates page.

Yes. Money paid toward Riwa stays in the escrow account and is released only against verified progress, however long construction takes, and a retention portion is held back after completion against defects. Escrow protects capital rather than compensating for lost time: any terms covering a late handover are set out in the Sales and Purchase Agreement.

RERA takes control of the escrow account if a project is cancelled, and for a registered project such as Riwa that means buyer refunds are paid out of the protected funds under DLD supervision. That safeguard reaches only money paid into the registered account, which is why a Riwa payment made anywhere else falls outside it. The DLD rules behind this safeguard are covered in the Dubai Land Department guide.

The Dubai Land Department register and the July 2026 inspection report list the developer of Riwa as Jumeirah Hills Development L.L.C, developer number 1076, while the project is marketed under the Meraas brand. That registered name and number are the ones shown against project 3021 in Dubai REST.

The Riwa brochure names BVLGARI Residences and Bluewaters Residences among the destinations in the Meraas portfolio. 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. Riwa itself was registered on 4 April 2024 and its construction started on 5 September 2024.

The escrow account protects payments toward the Riwa purchase price that are made into the registered account. It does not cover money sent to any other account, it does not hold the 4% DLD registration fee, which goes to the Dubai Land Department, and it does not compensate buyers for delays, which are governed by the Sales and Purchase Agreement.