Sobha Elwood Villas Escrow Account

The Sobha Elwood Villas escrow account is held at First Abu Dhabi Bank P.J.S.C. under account number 1011*****3244016 (the complete number is displayed in the Escrow Details section above). It sits under DLD project number 3602, registered on 29 April 2025, with SOBHA L.L.C as the registered developer.

No. Off-plan payments for Sobha Elwood Villas belong in the DLD-registered escrow account 1011*****3244016 at First Abu Dhabi Bank P.J.S.C. (the full number is in the Escrow Details section above), matching the escrow details in the Sales and Purchase Agreement. A request to pay into a personal account, an agent, or a differently named company account is a recognised payment-fraud pattern, most of all when it arrives with an incentive for paying outside escrow. Money sent that way falls outside the protection the escrow account provides.

Instalments paid by Sobha Elwood Villas buyers, including the 40% share due during construction, are held in the escrow account and released to the developer in stages linked to construction progress recorded through DLD inspections. The DLD register reading for project 3602 stood at 14.35% on 20 July 2026, with a previous inspection reading of 10.18%. Reading-by-reading progress is tracked on the Sobha Elwood Villas construction updates page.

No. The 4% DLD registration fee on a Sobha Elwood Villas purchase is paid to the Dubai Land Department when the sale is registered, not into the project escrow account; only the 20% booking payment made at that stage goes into escrow. The fee is a government charge levied on top of the villa price, so it is neither held for construction nor released to the developer.

The Dubai REST app lists the project under Services and Project Status as project number 3602, registered with the DLD as Elwood Estates. The project's escrow details show the bank, First Abu Dhabi Bank P.J.S.C., and the account number, and both are expected to match this page and the Sales and Purchase Agreement before any transfer.

No. The account keeps operating on the same terms whatever the calendar shows: funds remain in escrow and leave it only against recorded construction progress. Under the 60/40 plan the final 40% of the price is linked to handover of Sobha Elwood Villas, which is expected in Q2 2027, and a retention portion stays in escrow after completion for defect repairs. Escrow protects capital rather than compensating for lateness; any delay terms sit in the Sales and Purchase Agreement.

RERA takes control of the escrow account if a project is cancelled by the Dubai Land Department, with refunds to buyers paid out of the protected balance under DLD oversight. That safeguard covers money paid into the registered account for Sobha Elwood Villas; payments made anywhere else do not benefit from it. How the regulator handles a cancelled project is covered in the Dubai Land Department guide.

Not on request. Money in the Sobha Elwood Villas escrow account is held for the project under DLD supervision and is not a balance an individual buyer can draw back at will. Whether any amount returns to a buyer who ends a purchase depends on the Sales and Purchase Agreement and the off-plan rules that apply in Dubai, while refunds on a project cancellation follow the RERA process.

The escrow account protects money paid into it toward the construction of Sobha Elwood Villas. It does not protect payments sent to any other account, it does not guarantee a handover date, and it does not pay compensation for delays, which is a matter for the Sales and Purchase Agreement. Escrow safeguards the capital buyers pay in; it is not a guarantee of the investment's future value.