Ocean Views at Rashid Yachts & Marina Escrow Account

Emirates Islamic Bank P.J.S.C. holds the project trust account for Ocean Views, account number 3538*****5408 (shown in full in the Escrow Details section above). The account sits under DLD project number 3271 and was opened as a condition of the project's registration with the Dubai Land Department on 17 September 2024.

Releases follow certified construction progress rather than the payment calendar. The bank pays out against progress confirmed by Dubai Land Department inspection, and the inspection dated 21 April 2026 certified 6.18 percent completion, up from 3.61 percent at the previous reading. Each new certified reading is published in the Ocean Views construction updates guide.

The account is a DLD-registered escrow account supervised by the Dubai Land Department. Ocean Views was registered under project number 3271 on 17 September 2024 and construction started on 3 February 2025, and the works are followed through construction tracking against RERA inspection data, which is the measure every release is set against. The developer cannot move funds out of the account on its own instruction.

Ocean Views sells on an 80/20 plan made up of nine payments: 10 percent down, then seven payments of 10 percent through the construction period, and a closing 20 percent at completion in September 2028. All of those payments are made into the escrow account rather than to the developer, and the balance is released onward only as certified construction stages are reached. Because a number of the scheduled dates fall before today, the reservation figure reflects the elapsed part of the plan rather than the opening instalment alone.

Oqood is the Dubai Land Department system that records an off-plan sale in the buyer's name before a title deed exists. An Ocean Views apartment is entered on Oqood once the Sales and Purchase Agreement is signed and the initial payment has reached the escrow account, which is what ties the specific unit to the buyer on the official register during construction. The 4% DLD registration fee is payable at that registration and sits outside the 100 percent payment plan.

No. Every off-plan payment for Ocean Views belongs in the DLD-registered escrow account 3538*****5408 at Emirates Islamic Bank P.J.S.C. (the full number sits in the Escrow Details section above), exactly as recorded in the Sales and Purchase Agreement. A request to route funds to a personal account, a brokerage account, or an alternative company account, particularly one arriving with a discount attached for paying directly, matches the standard pattern of payment diversion fraud however official the paperwork appears. An instruction of that kind is checked against the escrow account registered in Dubai REST and the account named in the Sales and Purchase Agreement, and no money moves until both agree.

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. Money paid into any account other than the registered escrow account sits outside that mechanism and is not covered by it, which is why the registered account is the only correct destination for every instalment. The wider framework is explained in the Dubai Land Department guide.

Yes, the protection continues. Funds stay in the escrow account and are still released only against certified progress, whatever the calendar shows. Escrow protects the capital while the project completes, though it does not itself pay compensation for a delay; those terms sit in the Sales and Purchase Agreement.

During construction the apartment is held as an off-plan interim registration on Oqood. On completion, and once the final payment has been made, the Dubai Land Department issues the title deed in the buyer's name. Ocean Views is freehold and open to all nationalities, so the title is held outright with no residency requirement attached to the ownership.