Palace Residences Hillside B Escrow Account

First Abu Dhabi Bank P.J.S.C. holds the escrow account for Palace Residences Hillside B, account number 9009*****1259021 (shown in full in the Escrow Details section above), recorded under DLD project number 4280, which was registered on 15 December 2025.

Palace Residences Hillside B is sold on Emaar's 80/20 payment plan: 10% on booking together with the 4% DLD registration fee, 70% during construction and 20% on completion, with handover expected in Q4 2029. When an EOI is accepted, its deposit is credited toward the 10% booking payment. The 4% DLD registration fee is paid to the Dubai Land Department and is not held in escrow, while the purchase payments go into the DLD-registered escrow account for project 4280 at First Abu Dhabi Bank, from which the bank releases funds to the developer only as RERA inspections verify construction progress. The instalment schedule within the 70% is set out in the Sales and Purchase Agreement.

The EOI deposit is not paid into the escrow account. It is paid when the EOI is signed, by bank transfer or cheque in AED, into a dedicated EOI receipts account held in the developer's name, which is separate from the DLD-registered escrow account for project 4280 at First Abu Dhabi Bank. EOI registration is open, and the deposit is AED 50,000 ≈ USD 14K for a 1 bedroom apartment, AED 75,000 ≈ USD 20K for a 2 bedroom apartment, AED 100,000 ≈ USD 27K for a 3 bedroom apartment and AED 150,000 ≈ USD 41K for a 3 bedroom townhouse. An EOI does not oblige Emaar to sell. If Emaar accepts it, the buyer is invited to sign the sale agreement, the deposit is credited toward the 10% booking payment, and from signing and Oqood registration onward the purchase payments are made into the escrow account. If the offer has not been accepted by 30 November 2026, unless both sides agree otherwise in writing, or if Emaar rejects it, the EOI ends and the deposit is returned to the bank account it was paid from, in AED, without interest and after bank charges. If the offer is accepted but the sale agreement is not signed within 10 days of the invitation, or the first instalment balance is not paid on time, Emaar may terminate the EOI and the deposit is forfeited. The EOI is non-transferable and governed by the laws of Dubai.

The bank releases escrow funds to the developer only as RERA inspections verify construction progress. The DLD register reading for project 4280 was 0% at the inspection dated 9 December 2025, when no construction activity had started at site, so the release sequence is measured from that baseline toward the Q4 2029 handover. Each dated reading is tracked on the Palace Residences Hillside B construction updates page.

In the Dubai REST app, the Project Status service lists project number 4280 under the name Palace Residences Hillside B. Its Escrow Account panel shows the bank and the account number, which should read First Abu Dhabi Bank and match the escrow details in the Sales and Purchase Agreement before any transfer.

No. The 4% DLD registration fee is paid to the Dubai Land Department at booking, alongside the 10% booking payment under the 80/20 plan, and is not held in the escrow account. The escrow account receives the purchase payments due under the Sales and Purchase Agreement.

No. Apart from the EOI deposit, which is paid into the developer's separate EOI receipts account before any sale agreement exists, every off-plan purchase payment for Palace Residences Hillside B must go into the DLD-registered escrow account 9009*****1259021 at First Abu Dhabi Bank (the full number sits in the Escrow Details section above), as recorded in the Sales and Purchase Agreement. Instructions to transfer money to an individual, to an agent or to a different company account, especially when paired with a discount for paying outside escrow, fit the usual shape of payment fraud however official the documents appear. Such a request can be checked against the escrow account registered for project 4280 in Dubai REST and against the SPA before any funds move.

Yes. Money paid into the escrow account remains there and is released only against verified construction progress, regardless of dates, with handover scheduled for Q4 2029. Escrow protects capital while the project is built, but it does not compensate for delay; delay terms sit in the Sales and Purchase Agreement.

If the Dubai Land Department cancels a registered project, RERA takes control of the escrow account, and refunds to buyers are paid out of the protected balance under DLD supervision. Only money paid into the registered account for project 4280 sits inside that protection; funds sent anywhere else fall outside it. The regulatory framework behind it is described in the Dubai Land Department guide.

The DLD register lists DUBAI HILLS ESTATE L.L.C, developer number 984, as the registered developer entity for Palace Residences Hillside B, project 4280. The same entity is named on the RERA inspection report of 9 December 2025, which records First Abu Dhabi Bank P.J.S.C. as the trust account bank.

Emaar's recent Dubai deliveries under the DLD escrow and inspection framework include Creek Palace (March 2026), Seagate (September 2025), June (June 2025) and Bliss (November 2024), and Emaar reports approximately 118,400+ residential units delivered in Dubai and other global markets since 2002. A past record does not guarantee the Q4 2029 handover for Palace Residences Hillside B.