Ocean Point at Rashid Yachts & Marina Escrow Account

Emirates Islamic Bank P.J.S.C. holds the escrow account for Ocean Point, account number 3538*****5406 (the complete number appears in the Escrow Details section above). The account is tied to DLD project number 2975, which entered the Dubai Land Department register on 28 February 2024.

Under Ocean Point's 10/80/10 plan structure, the 80% paid during construction is held in the escrow account and released to the developer in stages linked to construction progress recorded by the Dubai Land Department, not on calendar dates alone. How that 80% is scheduled for each buyer is set out in the Sales and Purchase Agreement. The DLD register reading for project 2975 stood at 26.95% on 21 April 2026.

No. The 4% DLD registration fee is a Dubai Land Department charge levied when the purchase is registered. It is separate from the purchase price, is not held in the Ocean Point escrow account, and is not part of the balance released to the developer as construction progresses.

No. Each off-plan instalment for Ocean Point belongs in the DLD-registered escrow account 3538*****5406 at Emirates Islamic Bank (the complete number appears in the Escrow Details section above), matching the escrow details in the Sales and Purchase Agreement. A request to pay a personal account, an agent's account or a different company account, particularly one that offers a discount for paying outside escrow, follows the usual pattern of payment-diversion fraud however official the documents appear. Money sent that way falls outside escrow protection, so a request of that kind is best tested against the account registered in Dubai REST before funds move.

Ocean Point is listed in the Dubai REST app under Services, Project Status, with the register name Ocean Point and project number 2975. Its Escrow panel shows the bank, Emirates Islamic Bank P.J.S.C., and the escrow account number, which should match both the payment instruction and the Sales and Purchase Agreement exactly. Because neighbouring Rashid Yachts & Marina projects carry similar names, the project number is the more reliable identifier.

The Dubai Land Department register recorded Ocean Point at 26.95% on 21 April 2026, following an earlier, undated register reading of 15.46%. The RERA inspection on that date recorded enabling, piling and foundation works as complete and structure, internal and MEP works as ongoing. Because escrow releases follow recorded progress, the larger part of the construction share remains tied to work still to be carried out. The reading does not show the escrow balance or the amount released so far. Each reading is tracked on the Ocean Point construction updates page.

Yes, the escrow protection continues through any delay. Funds remain in the Ocean Point escrow account and are still released only against recorded construction progress, whatever the calendar says. Escrow protects the capital paid in; it does not compensate buyers for a later handover, and any delay terms sit in the Sales and Purchase Agreement.

RERA takes control of the escrow account if a project is cancelled, and refunds to buyers are then handled from the protected funds under the supervision of the Dubai Land Department. That protection reaches only money paid into the registered Ocean Point account, which is why a payment made anywhere else carries no such cover. The regulatory framework behind this is covered in the Dubai Land Department guide.

The final 10% of the Ocean Point price falls due at handover, expected in Q2 2028. Under the escrow framework, a retention portion is also kept in the account after completion to cover the repair of defects, with the terms set out in the Sales and Purchase Agreement.

Yes. Emaar's company-level delivery records list Seagate, inside Rashid Yachts & Marina, as delivered in September 2025, along with Creek Palace (March 2026), June (June 2025) and Bliss (November 2024). These are company records rather than DLD register entries verified for this page. Ocean Point itself is DLD project 2975, registered on 28 February 2024, with construction started on 6 July 2024.

The escrow account protects money paid into it toward the construction of Ocean Point. It does not protect payments sent to any other account, it does not hold the 4% DLD registration fee or other transaction costs, it does not compensate for a later handover, and it does not protect against changes in market value. Delay and contract terms are governed by the Sales and Purchase Agreement.