Park Field at Dubai Hills Estate Escrow Account

Emirates Islamic Bank P.J.S.C. holds the escrow account for Park Field, account number 3537*****0005 (shown in full in the Escrow Details section above), opened under DLD project number 2404 when the project was registered on 9 June 2022.

Yes. A project escrow account stays open under Dubai Land Department supervision after construction finishes, because a retention portion is held back beyond completion and final releases are still processed through it. Any outstanding purchase payment on a Park Field unit continues to belong in the registered account rather than in a developer or agent account.

Park Field sold on a 10 percent booking payment, six instalments of 10 percent tied to certified construction milestones, and 30 percent on construction completion. Each of those payments entered the escrow account first, and the bank released funds to the developer only against progress certified by DLD inspections. The 4 percent Dubai Land Department registration fee is separate from the purchase price and is paid to the DLD, not into escrow.

The RERA inspection dated 29 July 2025 certified Park Field at 100 percent, up from 90.16 percent at the previous inspection, and the report records the Building Completion Certificate as received on 11 July 2025. Dubai REST shows the project status as Finished. The full inspection history is tracked on the Park Field construction updates page.

No. Every purchase payment for Park Field belongs in the DLD-registered escrow account 3537*****0005 at Emirates Islamic 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 directly, is the standard pattern of payment diversion 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 funds are sent.

Yes, while the project account remains open under Dubai Land Department supervision. Funds paid into it are applied to the project and to the retention held for defect rectification rather than being freely available to the developer. Escrow protects capital rather than compensating for anything: obligations over timing, defects, and remedies sit in the Sales and Purchase Agreement.

A retention portion of the escrow balance remains after completion to cover defect rectification, which is why the handover walkthrough carries financial weight rather than being a formality. An independent defect inspection before the acceptance documents are signed is covered in the Park Field snagging inspection guide.

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. This is precisely why payments belong only in the registered account: money sent anywhere else sits outside that protection. With construction certified at 100 percent and the project status showing as Finished, Park Field is far past the stage where cancellation is a realistic concern, but the safety net exists regardless. The wider framework is explained in the Dubai Land Department guide.

Yes, Park Field at Dubai Hills Estate is a freehold project, open to all nationalities.

The property investment threshold for the 10-year Golden Visa is AED 2 million. Park Field pricing starts at AED 1.60 million (approx USD 436,000) for a 1 bedroom apartment, which sits below that line, while 2 and 3 bedroom apartments and the 2 bedroom duplex townhouses are priced above it. Which tiers qualify and how the application works are covered in the Park Field Golden Visa guide.