Seagate at Rashid Yachts & Marina Escrow Account

Dubai Islamic Bank (Public Joint Stock Company) holds the escrow account for Seagate, account number 0016*****917501 (shown in full in the Escrow Details section above), recorded under DLD project number 2163. The project entered the Dubai Land Department register on 1 May 2019, and the same bank and account are shown on the DLD record for project 2163 in Dubai REST.

Instalments on Seagate's 80/20 launch plan were paid into the project escrow account, and the bank released money to the developer only against construction progress recorded through DLD inspections. The plan combined a 10% down payment, seven 10% instalments during construction, and 20% at full construction completion. The DLD project register recorded 100% on 14 April 2025, which closed the construction-linked stages. The full inspection history is tracked on the Seagate construction updates page.

During construction, each Seagate off-plan sale was registered with the Dubai Land Department on the Oqood interim register, which recorded a buyer's interest in an apartment that was not yet built and tied that sale to project 2163. Once the project was completed and the purchase price was paid in full, the Oqood record gave way to a title deed issued by the Dubai Land Department. A completed Seagate apartment bought today changes hands through a title transfer registered with the Dubai Land Department.

No. The 4% DLD registration fee is a Dubai Land Department charge on the purchase rather than part of the apartment price, so it was not one of the instalments held in the Seagate escrow account. Seagate's launch plan listed it alongside the 10% down payment on booking. A ready or resale purchase of a Seagate apartment also carries the 4% DLD registration fee when the transfer is registered. The wider framework is explained in the Dubai Land Department guide.

Yes. Money paid toward Seagate stayed in the escrow account and moved to the developer only against recorded construction progress, whatever the calendar said, so a later handover would not have exposed buyer capital to the developer's general accounts. Escrow protects capital and does not compensate for delays; delay terms sit in each buyer's Sales and Purchase Agreement. In the event, handover took place in September 2025, the same month as the registered completion date of 30 September 2025.

The registered account appears in the Dubai REST app under Services, then Project Status, by searching project number 2163 or the register name Seagate and opening the Escrow Account panel. It reads Dubai Islamic Bank (Public Joint Stock Company) and 0016*****917501, the number masked on this page and available in full in the Escrow Details section above, and it should agree with the escrow details in the Sales and Purchase Agreement. A request to send Seagate money to a personal account, an agent's account or a different company account, especially one that comes with a discount for paying directly, matches the most common shape of payment diversion fraud, however official the documents look.

Seagate itself is the first entry: registered with the Dubai Land Department on 1 May 2019, construction started on 1 September 2019, the BCC issued by PCFC on 31 December 2024, 100% in the DLD project register on 14 April 2025, and handover in September 2025. Other recent Emaar deliveries in Dubai are Creek Palace (March 2026), June (June 2025) and Bliss (November 2024), which place Seagate within a run of completions by the same developer before and after its own handover.

The Seagate escrow account protected buyer capital while the buildings were under construction. It does not compensate for delays, it does not guarantee resale prices or rental returns, and it does not protect money sent to any account other than the registered one. It also does not hold the 4% DLD registration fee, service charges, or the price paid for a completed apartment bought on resale, which is settled as part of the transfer registered with the Dubai Land Department.

For a completed Seagate apartment, the escrow account has already done its main work. The DLD project register recorded 100% on 14 April 2025, a reading about seventeen months old as of 23 September 2026, the project status reads Finished, and handover took place in September 2025, so the construction risk the account guarded against has closed. A purchase today is a registered transfer of a finished apartment rather than a series of construction instalments. The escrow record remains evidence that the original buyers' money was supervised through the build, and the registered account number remains the reference for testing any payment request that claims to relate to Seagate's escrow.