Palm Central Frond M Escrow Account

First Abu Dhabi Bank P.J.S.C. holds the escrow account for Palm Central Frond M, account number 4031*****1289002 (shown in full in the Escrow Details section above). The account sits under DLD project number 4156, registered on 27 October 2025 as Palm Central Private Residences - Frond M, and the RERA inspection reports for the project name the same bank as its trust account bank.

They stay in the escrow account. Nakheel's published schedule is date based: 20% on booking, 5% in April 2026 and 5% in September 2026, so 30% of the price falls due by September 2026 while the DLD register reading at the 15 September 2026 inspection is 0.08%. Money paid ahead of the works is released to the developer only against construction progress verified through DLD inspections, not according to the payment calendar. Each buyer's own statement of amounts invoiced and paid is confirmed with Nakheel.

The 4% DLD registration fee is paid to the Dubai Land Department, not into the Palm Central Frond M escrow account. It is charged alongside the 20% booking payment to register the purchase, so it never forms part of the escrow balance and is not released to the developer at any construction stage. The registration framework is explained in the Dubai Land Department guide.

Oqood is the Dubai Land Department's register for off-plan sales. Once the booking payment is made and the Sales and Purchase Agreement is signed, the unit is recorded in Oqood against DLD project number 4156, which links the buyer's interest to the project and to its escrow account at First Abu Dhabi Bank P.J.S.C. The Oqood record serves as the interim registration until completion, when the title deed is issued in its place.

The DLD inspection dated 15 September 2026 recorded a register reading of 0.08 percent, up from 0.02 percent at the 8 June 2026 inspection. The RERA inspection report lists the progress status as Enabling Works - Progressing and notes that mobilization and infrastructure are starting on the site; no structural works are recorded yet. The September 2026 reading is covered in detail in the Palm Central Frond M construction update for September 2026.

No. Every off-plan payment for Palm Central Frond M belongs in the DLD-registered escrow account 4031*****1289002 at First Abu Dhabi Bank P.J.S.C. (the full number sits in the Escrow Details section above), matching the details in the Sales and Purchase Agreement. A request to send money to a personal account, a brokerage account or a different company account, particularly one offered with a discount for paying outside escrow, follows the standard pattern of payment fraud however official the paperwork appears. Any such request is checked against the escrow account shown for project 4156 in Dubai REST before funds move.

Yes, the escrow protection does not lapse with the calendar. Funds remain in the account and continue to be released only against verified construction progress, whether handover arrives in August 2029 as expected or later. Escrow protects capital while the project is built; it does not itself pay compensation for delay, and any 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 handled from the protected funds under DLD supervision. With the register reading at 0.08 percent, almost none of the construction has yet been verified on site, and only payments made into the registered account fall inside that safety net. The wider framework is explained in the Dubai Land Department guide.

The Dubai REST app shows the registered details directly: under Services, then Project Status, a search for project number 4156 or Palm Central Private Residences - Frond M opens the project record, and its Escrow Account panel shows the bank and account number. The same record lists the developer as THE PALM - JEBEL ALI CO. (L.L.C), developer number 104, which is the registered entity behind the Nakheel-marketed project. Those details are compared with the Sales and Purchase Agreement before each transfer.

According to the published Nakheel developer profile, Nakheel was founded in 2003 as a Dubai master developer and completed the reclamation and core infrastructure of Palm Jumeirah in 2006, with first residents arriving the following year. Its delivered communities include Palm Jumeirah, Jumeirah Village Circle, Al Furjan and Jumeirah Islands. Palm Central Frond M itself is not yet delivered: its register records a baseline inspection on 21 October 2025, registration on 27 October 2025 and a registered completion date of 31 July 2029. The full record is on the Nakheel developer profile.

Refunds from the escrow account arise where a registered project is cancelled: RERA then takes control of the account, and repayments to buyers are made from the protected funds under DLD supervision. A buyer's own decision to exit a purchase is not an escrow matter; it is governed by the terms of the Sales and Purchase Agreement. The 4% DLD registration fee is paid to the Dubai Land Department rather than into escrow, so it is not part of the escrow balance.