Ocean Star at Rashid Yachts & Marina Escrow Account

First Abu Dhabi Bank P.J.S.C. holds the trust account for Ocean Star, account number 4031*****6986001 (shown in full in the Escrow Details section above), opened under DLD project number 3010 when the project was registered on 29 March 2024.

MINA RASHID PROPERTIES L.L.C, developer number 1275 on the Dubai Land Department register, is the Emaar entity that holds project 3010 and the trust account attached to it. Dubai registers each project to the specific developer entity responsible for it, so the name on the escrow record is the entity name rather than the Emaar Properties brand name used in marketing. Payment instructions that quote a different company name, or a different account number, do not match the registered record.

Buyer instalments accumulate in the trust account and are released in stages by the bank only against construction progress certified by RERA inspections, under Dubai Land Department supervision. The developer cannot withdraw funds on demand or in advance of certified work, which is what keeps the money tied to the building rather than to a payment date.

The RERA inspection dated 11 August 2026 certified 30.46 percent of construction complete, up from 20.16 percent at the previous inspection, with the project recorded as Main Contract - Progressing. Roughly seventy percent of the works remain to be certified, so the majority of the escrow releases on this project are still ahead of it rather than behind it. Inspection by inspection detail is tracked on the Ocean Star construction updates page.

No. Every off plan payment for Ocean Star belongs in the DLD-registered escrow account 4031*****6986001 at First Abu Dhabi Bank (the full number sits in the Escrow Details section above), exactly as recorded in the Sales and Purchase Agreement. A request to send funds to a personal account, an agent's account, or an alternative company account, particularly one offering a discount for paying outside the normal route, is the standard pattern of property payment fraud however official the paperwork appears. Any such request should be checked against the escrow account registered in Dubai REST and the details in the Sales and Purchase Agreement before any funds are sent.

If the Dubai Land Department cancels a registered project, RERA takes control of the escrow account and buyer refunds are processed from the protected funds under Dubai Land Department supervision. That mechanism only reaches money that actually sits in the registered account: funds sent anywhere else are outside it. The wider framework is explained in the Dubai Land Department guide.

Yes. Funds remain in the trust account and continue to be released only against certified progress, whatever the calendar says. Escrow protects capital while a project is completed, and it does not itself compensate for a delay; compensation and delay terms sit in the Sales and Purchase Agreement rather than in the escrow framework.

Yes. A retention amount remains in the escrow account for a period after completion, held back from the developer to cover defects that emerge once units are occupied. It is released only after that period passes, which keeps a financial incentive in place to resolve defect claims after keys are handed over.

The Dubai REST app publishes the registered record for every off plan project. Opening Services, then Project Status, and searching project number 3010 brings up Ocean Star, and the Escrow Account panel shows the registered bank and account number. Those details can then be matched against the escrow clause in the Sales and Purchase Agreement, which is the independent check that does not depend on any document sent by a seller or an agent.