Skyscape Aura Escrow Account

Dubai Islamic Bank (Public Joint Stock Company) holds the escrow account for Skyscape Aura, account number 0015*****141801 (the complete number is available in the Escrow Details section above). On Dubai REST the account is recorded against DLD project number 3160, registered under the name Skyscape on 9 October 2024.

The Project Status service in the Dubai REST app lists the record under project number 3160 and the register name Skyscape; a search for Skyscape Aura does not return it. The Escrow panel on that record shows the bank name and the account number, and both should agree with the Escrow Details section of this page and with the escrow clause of the Sales and Purchase Agreement ahead of every transfer.

Payments toward a Skyscape Aura apartment, including the 40% due during construction under its 60/40 payment plan, stay in the escrow account until the Dubai Land Department records construction progress, and the bank releases funds to the developer against that recorded progress rather than against the payment calendar. The latest DLD register reading for the Skyscape registration, which covers all three of its buildings, was 38.27% on 21 September 2026, following a previous reading of 30.08% that the register shows without a date. Each reading is tracked on the Skyscape Aura construction updates page.

No. The 4% DLD registration fee is paid to the Dubai Land Department at booking and does not pass through the escrow account; only payments toward the purchase price go into escrow. Under the Skyscape Aura payment plan the fee is paid alongside the 20% down payment, and it is that 20%, the 40% during construction and the 40% on handover that go into escrow; the timing of the construction 40% is set in the Sales and Purchase Agreement.

No. Each off-plan payment toward a Skyscape Aura apartment belongs in the DLD-registered escrow account 0015*****141801 at Dubai Islamic Bank (the complete number is available in the Escrow Details section above), as recorded in the Sales and Purchase Agreement. A request to pay into a personal account, an agent's account or a different company account, particularly one offered with a discount for paying outside escrow, fits the standard pattern of payment fraud however official it appears. Such a request is checked against the escrow account on Dubai REST and the Sales and Purchase Agreement before any money moves.

The protection does not depend on the calendar. Funds already in escrow stay there and continue to be released only against construction progress recorded by the Dubai Land Department, whenever that progress happens. The expected handover for Skyscape Aura is Q4 2029, and the registered completion date for the whole Skyscape registration is 31 December 2029. Escrow protects capital while construction continues; it does not compensate buyers for a later handover, and delay terms sit in the Sales and Purchase Agreement.

RERA takes control of the escrow account if a project is cancelled, and refunds to buyers are then handled from the protected funds under the supervision of the Dubai Land Department. That safeguard reaches only money paid into the registered account; funds sent anywhere else fall outside it. The wider regulatory picture is covered in the Dubai Land Department guide.

Yes. A retention portion of the escrow funds is held for a period after completion to cover the repair of defects identified at handover. The size and duration of that retention for Skyscape Aura are not stated in the documents behind this page; the Sales and Purchase Agreement and the developer are the sources for those terms.

The Dubai Land Department lists the developer of project 3160, Skyscape, as SOBHA L.L.C, developer number 966. It is the registered entity behind Sobha Realty's Skyscape development and the developer name shown on the same register record that carries the Dubai Islamic Bank trust account.

The dated evidence is the register's own record for the Skyscape registration: construction started on 15 August 2024, the project was registered on 9 October 2024, enabling and foundation works were recorded as complete at the 21 September 2026 inspection, and the DLD register reading for the whole registration was 38.27% on that date. Sobha Realty describes a backward integration model, with design, engineering and construction handled in-house from concept to completion; that is the developer's own description rather than a delivery record.

The escrow account protects payments made into it and controls when they reach the developer. It does not guarantee a handover date, compensate for a later completion, or protect money sent to any other account. Terms on specifications, defects beyond the retention, and remedies for a later handover sit in the Sales and Purchase Agreement.