Palace Residences at Dubai Hills Estate Escrow Account

Mashreq Bank P.S.C. holds the escrow account for Palace Residences, account number 0190*****338 (shown in full in the Escrow Details section above), opened under DLD project number 2884 when the project was registered in December 2023.

The project is marketed by Emaar Properties and registered with the Dubai Land Department under the entity Dubai Hills Estate L.L.C, developer number 984. Both names appear in the DLD record, which is why a search in Dubai REST returns the registered entity rather than the Emaar brand name.

Palace Residences runs an 80/20 construction-linked plan: 10 percent on booking, seven instalments of 10 percent from July 2024 to October 2027, and a closing 20 percent in April 2028 on construction completion. Every one of those payments enters the escrow account first, and the bank releases funds to the developer only against construction stages certified by DLD inspections. Handover is expected in Q3 2028.

The DLD inspection dated 16 June 2026 certified 50.72 percent completion, up from 36.8 percent at the 12 February 2026 inspection. Enabling, piling, foundation and substructure works are complete, while superstructure, external envelope, MEP and internal finishing works are progressing across the three towers. Inspection-by-inspection detail is tracked on the Palace Residences construction updates page.

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

No. Every off-plan payment for Palace Residences must go into the DLD-registered escrow account 0190*****338 at Mashreq 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 paired with a discount for paying directly, is the standard pattern of 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 DLD supervision. That is the precise reason paying only into the registered account matters: money sent anywhere else sits outside the protected pool. With 50.72 percent of construction certified and inspections continuing on schedule, Palace Residences is well beyond the stage where that risk is a live concern, though the mechanism exists regardless. The wider framework is explained in the Dubai Land Department guide.

Yes, Palace Residences at Dubai Hills Estate is a freehold project, open to all nationalities.

It depends on the tier. The property investment threshold for the 10-year Golden Visa is AED 2 million (approx USD 545,000). One-bedroom apartments at Palace Residences start from AED 1.76 million (approx USD 479,000) and sit below that line, while two-bedroom apartments from AED 2.59 million (approx USD 705,000), three-bedroom apartments from AED 3.58 million (approx USD 975,000) and three-bedroom townhouses from AED 6.26 million (approx USD 1.70 million) clear it. The full requirements and qualifying options are covered in the Palace Residences Golden Visa guide.