Sera 1 at Rashid Yachts & Marina Escrow Account

First Abu Dhabi Bank P.J.S.C. holds the project trust account for Sera 1 at Rashid Yachts & Marina, account number 9009*****6986014, shown in full in the Escrow Details section above. The account is recorded against Dubai Land Department project number 4031, registered on 25 August 2025. The developer named against it on the register is MINA RASHID PROPERTIES L.L.C, developer number 1275, which is the entity registered with the Dubai Land Department for this project, while the project is marketed under the Emaar Properties name.

The account is a DLD-registered escrow account, opened as a condition of registering project 4031 and operated under Dubai Land Department supervision rather than under the developer's own signature alone. RERA-appointed inspectors attend the site and certify how far the works have progressed, and the bank releases money against those certified readings rather than against the developer's request. If a registered project is cancelled, RERA takes control of the escrow account. The regulatory framework behind this is set out in the Dubai Land Department guide.

Oqood is the Dubai Land Department system that records off-plan sales before a building exists to register a title deed against. When an apartment at Sera 1 is sold, the sale is entered on Oqood and the buyer receives an initial contract of sale tying that specific unit, under project 4031, to that specific buyer. Registration normally follows signature of the Sales and Purchase Agreement together with the down payment and the Dubai Land Department registration fee. Oqood records who owns the future apartment; the escrow account holds the money that pays for it, and the two run in parallel rather than one replacing the other.

They are not released on the dates printed in the payment schedule. Buyer money accumulates in the trust account at First Abu Dhabi Bank P.J.S.C., and the bank pays it out against construction progress certified by RERA-appointed inspection. The most recent certified reading for project 4031 is 0.04 percent, recorded at the inspection of 02 June 2026 with the progress status entered as Enabling Works - Progressing, against a previous reading of 0 percent. From the March 2027 instalment onward the schedule itself carries construction-completion tags of 10, 30, 50, 70 and 100 percent, so those later payments are keyed to the same certified scale the inspectors record. Reading by reading detail is published on the Sera 1 construction updates page.

No. Every off-plan payment for Sera 1 belongs in the DLD-registered escrow account 9009*****6986014 at First Abu Dhabi Bank P.J.S.C., the full number sitting in the Escrow Details section above, exactly as recorded in the Sales and Purchase Agreement. A request to send funds to a personal account, to an agent's account, to a different company account, or to an account held outside the UAE, and in particular one attached to a discount for paying directly, matches the standard pattern of payment-diversion fraud however official the paperwork looks. Any such request should be checked against the escrow account registered in Dubai REST and against the Sales and Purchase Agreement before any funds move.

It stays where it is. Funds already paid remain in the trust account at First Abu Dhabi Bank P.J.S.C. and leave it only against progress certified by inspection, so a site that stops moving produces stalled releases rather than money leaving the account. The Dubai Land Department monitors registered projects through that same inspection record and can intervene where a project does not progress. Escrow protects the capital held in the account; it does not itself compensate for lost time, and the consequences of delay are governed by the Sales and Purchase Agreement.

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 Dubai Land Department supervision. That is the mechanism, and it is the whole reason paying into the registered account matters: money sent anywhere else sits outside it entirely and no regulator can reach it. On the current register Sera 1 is recorded as Active under project number 4031, and the remarks field reads that there are no remarks for the project. Cancellation and refund powers sit inside the wider regulatory picture covered in the Dubai Land Department guide.

Full title registration follows completion and handover. Until then the buyer's interest is held as an off-plan interim registration on Oqood against project 4031, and the title deed is issued by the Dubai Land Department once the project is completed and the apartment is handed over. The completion date registered for Sera 1 is 30 November 2029, which places handover in Q4 2029. Ownership at Sera 1 is freehold and open to all nationalities.