Solaya Escrow Account

Commercial Bank of Dubai (PSC) holds the escrow account for Solaya by Meraas, account number 1010*****2 (the complete number appears in the Escrow Details section above). It is the trust account bank on the Dubai Land Department record for project number 4123, registered as Solaya (5,7) on 28 November 2025.

Solaya by Meraas is launched under the Meraas name, while the Dubai Land Department record for project 4123 lists LA MER CENTRAL PROPERTY CO. L.L.C, developer number 1941, as the registered developer. The escrow account at Commercial Bank of Dubai (PSC) sits under that registration, so the registered developer name is the one shown against the project in Dubai REST and on the RERA inspection report.

The 60/40 plan published for Building 5 and 7 places 20 percent on booking in January 2026, four 10 percent instalments between July 2026 and January 2028, and 40 percent on handover in June 2029. Each of those payments is made into the escrow account, and the bank releases funds to the developer only against construction progress verified by inspection, not on the payment dates. Handover is estimated for Q2 2029.

No. The 4 percent registration fee due alongside the 20 percent down payment is paid to the Dubai Land Department to register the purchase, not into the escrow account. It is a government fee, so it is neither held in escrow with the purchase price nor released to the developer.

The escrow account. At the inspection of 8 June 2026 the DLD register read 0%, and the RERA inspection report found demolition works ongoing with construction activities not yet started on site. Instalments paid in that period are held in the DLD-registered escrow account at Commercial Bank of Dubai (PSC), and their release to the developer is governed by verified construction progress under Dubai Land Department supervision. Each new reading is tracked on the Solaya by Meraas construction updates page.

No. Every off-plan payment for Solaya by Meraas belongs in the DLD-registered escrow account 1010*****2 at Commercial Bank of Dubai (PSC) (the full number is in the Escrow Details section above), as set out 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 offering a discount for paying outside escrow, fits the standard pattern of payment fraud however official it looks. The safe reference for any such request is the escrow entry for project 4123 in Dubai REST, read together with the Sales and Purchase Agreement, before any money moves.

Yes. Money paid into the escrow account stays under Dubai Land Department supervision whatever happens to the timetable, and it is still released only against verified construction progress. Escrow protects capital while the project is completed; it does not compensate for delay, and delay terms are set in the Sales and Purchase Agreement. The estimated handover is Q2 2029, and the DLD record carries a registered completion date of 30 September 2029.

RERA takes control of the escrow account if a project is cancelled, and refunds to buyers are handled from the funds held in that account under Dubai Land Department supervision. That protection reaches only money paid into the registered account; payments made anywhere else fall outside it. How the Dubai Land Department regulates escrow more broadly is covered in the Dubai Land Department guide.

Oqood is the Dubai Land Department register for off-plan sales. Registering a Solaya by Meraas purchase under Oqood records the buyer against a specific residence in project 4123 before construction is complete, and the 4 percent DLD fee is paid as part of that registration. The Oqood record is replaced by a title deed after handover.

The escrow account protects payments made into it toward the construction of Solaya 5 and Solaya 7. It does not cover money sent to any other account, it does not hold the 4 percent DLD fee, it does not compensate for delays (those terms sit in the Sales and Purchase Agreement), and it does not guarantee resale prices or rental returns.