Palace Beach Residence at Emaar Beachfront Escrow Account

Abu Dhabi Commercial Bank holds the DLD-registered escrow account for Palace Beach Residence, account number 1065*****20038 (shown in full in the Escrow Details section above), opened under Dubai Land Department project number 2240 when the project was registered on 4 April 2021.

Buyer payments sit in the project trust account and are released to Emaar Development P.J.S.C. in stages against construction progress recorded by Dubai Land Department inspections, not on a schedule the developer sets for itself. The Dubai Land Department register records Palace Beach Residence as Finished, with progress read at 100 percent on 15 January 2025, so the construction-linked releases on this project have already run their course and the account now governs the closing stages of the payment plan. The inspection history behind those releases is tracked on the Palace Beach Residence construction updates page.

No. Every payment under a Palace Beach Residence purchase belongs in the DLD-registered escrow account 1065*****20038 at Abu Dhabi Commercial 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 account or an alternative company account, particularly one paired with a discount for paying outside the trust account, is the standard pattern of payment-diversion fraud however official the paperwork looks. Any such instruction warrants a check against the escrow account registered in Dubai REST and the details in the Sales and Purchase Agreement before any money moves.

A unit bought before its title deed is issued is recorded on the Oqood interim register held by the Dubai Land Department, which ties the buyer name to the specific unit and to the project escrow account. Once the building is complete and the payment obligations in the Sales and Purchase Agreement are met, that Oqood registration is converted into a title deed in the buyer name. Palace Beach Residence is a freehold project, open to all nationalities, so the title deed carries full ownership of the apartment.

The 4 percent Dubai Land Department registration fee is calculated on the purchase price and paid to the Dubai Land Department at registration, alongside the 10 percent booking payment. It is a government registration charge rather than a part of the purchase price, so it does not enter the project escrow account and is never released to the developer. How the Dubai Land Department regulates registration and buyer protection across the market is covered in the Dubai Land Department guide.

Yes, the protection continues. Funds remain inside the trust account and are released only against progress verified under Dubai Land Department supervision, whatever the calendar says. Escrow protects the capital while a project completes; it does not itself pay compensation for late delivery, and any remedy for delay sits in the Sales and Purchase Agreement rather than in the escrow rules.

The Dubai REST app published by the Dubai Land Department carries an escrow panel for every registered project. Searching project number 2240, or the register name Palace Beach Residence, opens the record showing the trust account bank and the account number. Matching that against the account on a payment instruction and against the escrow details in the Sales and Purchase Agreement is the independent check, and the app is the authority whenever the two differ.

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 sent to any account other than the registered one sits outside that protection entirely. The Dubai Land Department register records Palace Beach Residence as Finished, so cancellation is not a live concern on this project, but the mechanism is a large part of why the registered account is the only correct destination for a payment.

Emaar Development P.J.S.C., developer number 1211 on the Dubai Land Department register, has taken a run of Dubai projects through the same escrow and inspection framework to completed handover, among them Creek Palace in March 2026, Seagate in September 2025, June in June 2025 and Bliss in November 2024. Each of those ran on its own DLD-registered escrow account under the same release mechanism that governs Palace Beach Residence.