Skyvue Solair Escrow Account

Dubai Islamic Bank (Public Joint Stock Company) holds the escrow account for Skyvue Solair, account number 0015*****999001 (shown in full in the Escrow Details section above). The account belongs to DLD project number 3435, registered as Skyvue on 25 February 2025, the registration that includes Skyvue Solair.

In the Dubai REST app, the Project Status service under Services opens the DLD project record. A search for project number 3435 or the name Skyvue returns the registration that includes Skyvue Solair, and its Escrow panel lists Dubai Islamic Bank (Public Joint Stock Company) with the account number. That record, together with the escrow details in the Sales and Purchase Agreement, is the reference a payment instruction has to match.

Skyvue Solair follows a 60/40 plan: 20% on booking, 40% during construction spread over four payments, and 40% on handover in Q1 2029. Each payment goes into the escrow account first, and the bank releases funds to Sobha Realty only against construction progress recorded by DLD inspections. The dates of the four construction payments are set in each Sales and Purchase Agreement.

No. The 4% DLD registration fee due alongside the 20% booking payment is paid to the Dubai Land Department to register the purchase, and it is not held in the Skyvue Solair escrow account. The escrow account receives the payments made toward the purchase price.

The DLD inspection dated 30 July 2026 recorded 10.54% for the whole Skyvue registration, which covers four buildings including Skyvue Solair, up from 5.11% at a previous inspection whose date the register does not show. The inspection notes describe mobilisation under way, enabling and foundation works progressing and structure works ongoing. Releases to the developer follow recorded progress, so the escrow balance moves only as later inspections record further work. The dated record is tracked on the Skyvue Solair construction updates page.

Yes. Money already paid stays in the escrow account, and releases keep following recorded construction progress rather than dates on a calendar. Escrow protects capital while the project is completed; it does not itself pay compensation if the timetable changes, and any such terms sit in the Sales and Purchase Agreement.

No. Each off-plan payment for Skyvue Solair belongs in the DLD-registered escrow account 0015*****999001 at Dubai Islamic Bank (the full number sits in the Escrow Details section above), as recorded in the Sales and Purchase Agreement. A request to pay a personal account, an agent's account or a different company account, particularly one offering a discount for paying outside escrow, matches the usual pattern of payment fraud however official the documents appear. Such a request can be tested against the escrow panel in Dubai REST and the escrow clause of the Sales and Purchase Agreement before a single dirham moves.

If the Dubai Land Department cancels a registered project, RERA takes control of the escrow account, and refunds to buyers are paid out of the protected balance under DLD supervision. That safeguard reaches only money paid into the registered account; funds sent to any other account sit outside it. The wider regulatory framework is explained in the Dubai Land Department guide.

Yes. A retention portion of the escrow balance is held after completion to cover the repair of defects, which gives the developer a financial reason to resolve issues raised at handover. The terms that apply to an individual purchase sit in the Sales and Purchase Agreement.

Skyvue Solair is marketed under the Sobha Realty name, while the DLD register and the July 2026 inspection report record the developer of the Skyvue registration as SOBHA L.L.C. That registered entity name is the one the Sales and Purchase Agreement and the Dubai REST project record are compared against.

The escrow account protects payments made into the registered Dubai Islamic Bank account of the Skyvue registration. It does not cover money sent to any other account, it does not pay compensation if the construction timetable changes, and it does not hold the 4% DLD registration fee. It also says nothing about the future market value of an apartment: it protects the capital paid toward the purchase while the project is built.