Ocean House Escrow Account

Bank of Sharjah holds the escrow account for Ocean House, account number 0143*****80 (the full number appears in the Escrow Details section above), recorded against DLD project number 2691, which was registered on 26 June 2023.

In the Dubai REST app, the Project Status service under Services finds the project by its number, 2691, or by its register name, Ocean House. The project's Escrow panel lists the bank name and the escrow account number, and both entries are expected to match the Escrow Details section of this page and the escrow clause of the Sales and Purchase Agreement, ahead of every instalment.

Under Ellington's 60/40 plan, the four instalments linked to the reservation date add up to 30% and are payable within 120 days of a buyer's reservation, six instalments of 5% fall due as construction reaches 20%, 30%, 40%, 50%, 60% and 70%, and 40% is due on completion. Each instalment is paid into the escrow account first, and the bank releases funds to the developer only against construction progress recorded through DLD inspections.

The Dubai Land Department register shows a reading of 80.7% for Ocean House, recorded on 3 September 2026, up from a previous reading of 71.3% that carries no date. The RERA report of that date notes that enabling, foundation and structure works were completed and that internal works had reached an advanced stage, with the external envelope, internal finishes, MEP and external works still progressing. By that reading all six construction-linked instalments had been triggered, leaving the 40% completion payment as the remaining scheduled instalment. Each new reading is tracked on the Ocean House construction updates page.

No. The 4% DLD registration fee is paid to the Dubai Land Department, not into the project escrow account. Under the developer's booking steps it falls due alongside the down payment, ahead of the Sales and Purchase Agreement, and it sits outside the instalments of the 60/40 plan.

The protection does not depend on the calendar. Buyer money remains in escrow and is still paid out only against inspected construction progress, whatever the eventual handover date. The developer's expected handover is Q4 2026, and the current construction and handover timetable is one for buyers to confirm with the developer in writing. Escrow protects capital while the building is completed; it does not itself compensate for delay, and any delay terms sit in the Sales and Purchase Agreement.

No. All off-plan payments for Ocean House belong in the DLD-registered escrow account 0143*****80 at Bank of Sharjah (the complete number is in the Escrow Details section above), as recorded in the Sales and Purchase Agreement. A request to send money to a private account, a broker's account or a different company account, particularly one offering a reduction for paying outside escrow, matches the standard pattern of payment fraud however official the documents appear. Such a request can be tested against the escrow account registered for project 2691 in Dubai REST and the escrow details in the SPA before any funds move.

RERA takes control of the escrow account if a project is cancelled by the Dubai Land Department, and buyer refunds are then paid out of the protected funds under DLD supervision. That protection reaches only money paid into the registered account; payments sent anywhere else fall outside it. Ocean House has structure works recorded as completed and a register reading of 80.7%, and the mechanism stays in place at every stage regardless. How that framework operates is set out in the Dubai Land Department guide.

Yes. A retention portion stays in the escrow account after completion to cover the repair of defects, so part of the money is still held while the developer addresses them. No percentage or period for that retention appears in the developer's published Ocean House materials; the terms for each unit sit in its Sales and Purchase Agreement. How a pre-handover inspection documents those defects for an Ocean House residence is covered in the Ocean House snagging inspection guide.

The RERA inspection report for project 2691 lists the registered developer as Northacre Ellington Development L.L.C, developer number 1513, while the project is marketed by Ellington. On Dubai REST the project itself is identified by its number, 2691, and its register name, Ocean House, and its escrow account is held with Bank of Sharjah under that registration.

Ellington announced the start of handover at Harrington House, a 92-residence building in Dubai, on 1 November 2022, describing it as completed ahead of schedule, and it also names Belgravia Heights I, DT1, Wilton Terraces and Wilton Park Residences among its delivered Dubai projects. These are developer announcements about Ellington buildings; Ocean House is registered under its own project company, and its own record is the register history of project 2691.

Escrow protects buyer money paid into the registered account while the building is completed. It does not guarantee a handover date, compensate for delay, or protect funds sent to any other account. The 4% DLD registration fee is paid to the Dubai Land Department rather than into escrow, and matters such as the unit specification and post-handover service charges are governed by the Sales and Purchase Agreement and the building's service charge arrangements, not by the escrow account.