One at Palm Jumeirah Dorchester Collection Escrow Account

Abu Dhabi Commercial Bank holds the escrow account for One at Palm Jumeirah, account number 1133*****20002 (revealed in full in the Escrow Details section at the top of this page). The account name on the developer's factsheet is One at Palm Jumeirah, and the Dubai Land Department register records the bank as the trust account bank for project number 1631, registered on 12 February 2015.

A payment to the developer under a Sales and Purchase Agreement for One at Palm Jumeirah goes to the account that agreement specifies, and the developer's factsheet names escrow account 1133*****20002 at Abu Dhabi Commercial Bank (the complete number is available in the Escrow Details section). A request to pay a personal account, an agent's account or a newly named company account, particularly one offered with a discount for paying directly, matches the usual pattern of payment-diversion fraud. The safe reference for any such instruction is the project record in Dubai REST together with the account named in the signed agreement.

Under the DLD escrow framework, buyer payments for One at Palm Jumeirah were held in the escrow account and released to the developer against construction progress recorded through the Dubai Land Department inspection process, rather than on request. The last inspection on the register, dated 20 June 2021, shows a DLD register reading of 100% against an undated previous reading of 97.01%, and the project status now reads Finished. The dated record is tracked on the One at Palm Jumeirah construction updates page.

No. The 4% DLD registration fee is paid to the Dubai Land Department, not into the One at Palm Jumeirah escrow account. The developer's factsheet places it alongside the 20% instalment due on signing the SPA, but it is a government registration fee charged on top of the purchase price, not part of the money held for the project. How the Dubai Land Department registers property purchases is covered in the Dubai Land Department guide.

Oqood is the Dubai Land Department's interim register for units sold off plan, recording a buyer's interest before the building is complete. One at Palm Jumeirah is now listed as Finished on the register, so ownership of a residence is ultimately recorded on a DLD title deed; when that title is issued for a particular purchase, and whether any interim registration comes first, depends on the payment terms in the Sales and Purchase Agreement. A resale is registered as a title transfer with the Dubai Land Department at the point of sale.

Escrow protects the money paid into the account; it does not compensate buyers for delays. For One at Palm Jumeirah the question has largely moved on, because the DLD register carries a registered completion date of 20 June 2021 and the residences are offered as Ready. The handover date and any delay terms for an individual residence are set out in its Sales and Purchase Agreement.

The Dubai REST app lists the project under Services, then Project Status, as project number 1631 with the name One At Palm Jumeirah. That record carries the project details, the inspection history and the escrow details, which can be compared with the bank and account number on this page and in the Sales and Purchase Agreement. Where the app and any other source differ, the Dubai REST record is the reference.

The register record for One at Palm Jumeirah runs from a construction start on 1 October 2014 and DLD registration on 12 February 2015 to a DCD issue on 25 January 2021, a Building Completion Certificate from Trakhees on 19 May 2021 and a 100% DLD register reading on 20 June 2021, with the project now listed as Finished. The developer's documents also name The Opus, The Sterling, ANWA, The Residences Dorchester Collection Dubai and Langham Place Downtown Dubai as part of the OMNIYAT portfolio; no dates for those projects are given here.

Refunds from a project escrow account arise mainly on cancellation: RERA takes control of the escrow account if a project is cancelled, so the money held there stays under regulatory control for buyer refunds. One at Palm Jumeirah is recorded as Finished, so that scenario does not describe its position. A refund on an individual purchase, for example where a sale does not proceed, depends on the terms of the Sales and Purchase Agreement rather than on the escrow account itself.

The escrow account protects payments made into it under the project's DLD registration. It does not cover money sent to any other account, the 4% DLD registration fee, compensation for delays, or payments between a resale seller and buyer, which are typically settled through the Dubai Land Department transfer process. It is also not a check on the physical condition of a finished residence, which is a separate inspection before acceptance.

A completed residence at One at Palm Jumeirah can be bought from the developer or from an existing owner, and the escrow account applies differently to each. On a purchase from the developer, the receiving account and the payment terms are set in the Sales and Purchase Agreement; the developer's factsheet lists the project escrow account alongside an undated payment structure, which is confirmed with the developer for a Ready residence. On a resale, the price is typically settled between buyer and seller at the Dubai Land Department transfer and does not pass through the project escrow account.