Palace Residences North at Dubai Creek Harbour Escrow Account

First Abu Dhabi Bank P.J.S.C. holds the escrow account for Palace Residences North, account number 4031*****2785002 (shown in full in the Escrow Details section above), under DLD project number 2562, which was registered with the Dubai Land Department on 9 February 2023.

Buyer instalments were paid into the escrow account first, and First Abu Dhabi Bank released funds to the developer only against construction progress certified by DLD inspections. The DLD register recorded 94.65 percent at the previous inspection and 100 percent at the inspection dated 8 September 2025, so every construction-linked release under the launch plan has been reached. The inspection record is tracked on the Palace Residences North construction updates page.

Construction at Palace Residences North was certified at 100 percent on 8 September 2025, a reading about twelve and a half months old when this page was last reviewed, and handover is scheduled for Q2 2027. In that interval the escrow account still receives the buyer payments that fall due, including the completion payment set in each Sales and Purchase Agreement, and part of the project funds is retained in escrow after completion as cover for defect repairs. Certified construction does not end the account's role.

No. Every off-plan payment for Palace Residences North belongs in the DLD-registered escrow account 4031*****2785002 at First Abu Dhabi Bank (the full number sits in the Escrow Details section above), exactly as recorded in the Sales and Purchase Agreement. A request to pay a personal account, an agent's account or a different company account, particularly one that offers a discount for paying directly, matches the standard pattern of payment fraud however official the documents appear. The reference point for any such request is the escrow account shown in Dubai REST together with the Sales and Purchase Agreement.

An off-plan purchase at Palace Residences North is recorded in Oqood, the Dubai Land Department's interim register for off-plan sales, which ties the buyer to the unit before completion. After completion, full payment and handover, that Oqood registration is replaced by a title deed issued by the Dubai Land Department in the owner's name. Handover is scheduled for Q2 2027, and the registration framework is explained in the Dubai Land Department guide.

No. The 4% DLD registration fee is a government fee paid to the Dubai Land Department when a Palace Residences North purchase is registered, and it is separate from the purchase price that passes through escrow. At booking, the 10% down payment goes into the project escrow account at First Abu Dhabi Bank, while the 4% fee is settled with the Dubai Land Department as part of registration.

Yes. Money paid into the Palace Residences North escrow account stays under Dubai Land Department supervision whatever the calendar says, and releases have only ever followed certified progress. The registered completion date of 30 June 2027 has not yet been reached. Escrow protects capital rather than compensating for lost time: any delay terms sit in the Sales and Purchase Agreement. Separately, the retention held in escrow after completion relates to defect repairs, which is where an independent Palace Residences North snagging inspection fits in.

If the Dubai Land Department cancels a registered project, RERA takes control of the escrow account and buyer refunds are handled from the protected funds under DLD supervision, which is why only payments made into the registered account sit inside that protection. With 100 percent construction progress certified on 8 September 2025 and the Building Completion Certificate issued by the DDA on 28 August 2025, Palace Residences North has left the stage at which cancellation is a realistic risk, though the mechanism applies to every registered project.

The account number is listed in the Dubai REST app under Services, then Project Status. A search for project number 2562 or "Palace Residences - North" opens the project record, and its Escrow Account panel shows the bank, First Abu Dhabi Bank P.J.S.C., and the escrow number, which must also match the one in the Sales and Purchase Agreement. A number on a payment instruction that differs from both, even by one digit, is not the project's escrow account.

Among Emaar's recent Dubai projects, Creek Palace was delivered in March 2026, Seagate in September 2025, June in June 2025 and Bliss in November 2024, each on its own DLD-registered escrow account. Palace Residences North has already cleared the construction stage, with 100 percent certified on 8 September 2025, so the record bears on how the remaining handover process runs rather than on whether the tower is finished. Handover is scheduled for Q2 2027.

The escrow account protects the buyer capital paid into it; it does not compensate for delay, whose terms sit in the Sales and Purchase Agreement. It gives no protection to money sent to any other account, it does not hold the 4% DLD registration fee, and it does not guarantee resale prices, rental returns or the finish of an individual unit, which is assessed at handover. Its role is to keep payments under DLD supervision and release them only against certified progress.