Six Senses Residences The Palm Escrow Account

Emirates NBD Bank (P.J.S.C) holds the trust account for Six Senses Residences The Palm, account number 0204*****2018 (the complete number is available in the Escrow Details section above). The account is recorded against DLD project number 2350, which the Dubai Land Department registered on 04 February 2022.

Buyer instalments are deposited in the trust account first. The bank pays funds out to the developer only against construction progress recorded through DLD-supervised inspections, not according to the buyer's payment calendar. Because the launch plan is time-based, with shares due at 1, 6 and 12 months from reservation, money paid ahead of the works stays in escrow until the matching progress is recorded. The register reading for the project stood at 100 percent on 01 September 2026.

At its final stage. The DLD inspection dated 01 September 2026 recorded 100 percent, compared with 97.86 percent in May 2026, and gave the Progress Status as Completed. TKS issued the Building Completion Certificate on 14 January 2026; at the September visit the remaining site work was snagging, painting in common areas and deep cleaning. Handover is scheduled for Q3 2026, so the payment still ahead for launch-plan buyers is the completion balance. The dated inspection record is kept on the Six Senses Residences The Palm construction updates page.

No. The 4% DLD registration fee is a government charge that goes to the Dubai Land Department when the purchase is booked, at the same stage as the 5 percent reservation instalment. It never enters the project escrow account, it is never released to the developer, and it is not counted toward any instalment of the payment plan. The DLD's part in registering sales and supervising escrow is described in the Dubai Land Department guide.

Under the launch plan of record, 50 percent of the price falls due upon completion. It is paid into the same DLD-registered escrow account as every earlier instalment, the account listed in the Escrow Details section. The building is finished, its Building Completion Certificate dates from 14 January 2026, and the scheduled handover quarter is Q3 2026. Terms for any unit still available are agreed with Select Group at the point of reservation.

Yes. Funds held in the escrow account stay under DLD supervision and are released only against recorded progress, whatever the calendar says. Escrow protects capital; it does not pay compensation for a late handover, and any delay terms are set out in the Sales and Purchase Agreement. A retention portion also remains in escrow after completion toward defect repairs, and its link to a pre-handover defect inspection is covered in the Six Senses Residences The Palm snagging inspection guide.

No. Every instalment for Six Senses Residences The Palm belongs in the DLD-registered escrow account 0204*****2018 at Emirates NBD (the complete number is available in the Escrow Details section above), the same account named in the escrow clause of the Sales and Purchase Agreement. A request to pay into a personal account, an agent's account or a different company account, particularly one that offers a discount for paying outside escrow, follows the standard pattern of payment fraud however convincing the documents appear. Such a request is checked against the escrow account shown in Dubai REST and the SPA before any money moves.

An off-plan purchase is recorded in the Dubai Land Department's Oqood interim register once the Sales and Purchase Agreement is registered, and the payments made under that agreement go into the project escrow account. The DLD issues the title deed after completion, once the balance is settled and handover of the unit takes place. The registration route for a specific unit at Six Senses Residences The Palm is confirmed with Select Group and the DLD at the time of purchase.

The Dubai REST app lists the escrow details for every registered project. Under Services and then Project Status, a search for project number 2350 opens the record for Six Senses Residences The Palm, Dubai, and its Escrow Account panel shows the bank and account number. Those details are compared with the Sales and Purchase Agreement and with any payment instruction before each transfer.

Select Group was established in 2002. On project 2350 itself, the DLD record and inspection reports date construction start to 05 January 2022, DLD registration to 04 February 2022, DCD to 05 November 2025 and LPG to 11 December 2025, with the Building Completion Certificate dated 14 January 2026, followed by readings of 97.86 percent on 05 May 2026 and 100 percent, with a Completed status, on 01 September 2026.

The escrow account protects buyer payments made into it for this project. It does not cover money sent to any other account, it does not hold the 4% DLD registration fee, and it does not pay compensation for a late handover, since delay terms sit in the Sales and Purchase Agreement. It also offers no assurance on resale value, rental income or service charges after handover, and the rectification of defects is governed by the developer's obligations under the SPA.