The Cove 2 at Dubai Creek Harbour Escrow Account

Dubai Islamic Bank (Public Joint Stock Company) holds the escrow account for The Cove 2, account number 0015*****780501 (shown in full in the Escrow Details section above). The account is tied to DLD project number 2450, which was registered with the Dubai Land Department on 28 October 2022.

The 2022 launch schedule placed 80 percent of the price during construction and 20 percent on completion, and every instalment is paid into the project escrow account first. The bank releases funds to the developer only against construction progress recorded by DLD inspections. On that schedule the final 20 percent is tied to 100 percent construction completion, scheduled for December 2026, while the amounts and dates that apply to any individual buyer are set by that buyer's Sales and Purchase Agreement.

The DLD inspection dated 29 April 2026 recorded The Cove 2 at 100 percent, up from 92.45 percent at the previous inspection, so the construction-linked release stages have reached their end point. What remains on the escrow side is the completion payment, the handover scheduled for Q4 2026 and the retention held after completion. The inspection history is tracked on The Cove 2 construction updates page.

The 4% DLD registration fee is a government charge for registering the purchase with the Dubai Land Department. It is calculated on the purchase price but is separate from it, and it does not form part of the balance held in The Cove 2 escrow account at Dubai Islamic Bank, which receives payments toward the price of the unit.

Oqood is the Dubai Land Department's interim register for off-plan sales, and a buyer's booking payment enters the project escrow account once the unit is registered there. After completion and handover, with the price paid in full, the Oqood registration is replaced by a title deed issued by the Dubai Land Department. At The Cove 2, construction was recorded at 100 percent on 29 April 2026 and handover is scheduled for Q4 2026.

Yes, the protection continues. Funds in the escrow account are released only against recorded progress, and a retention portion stays in escrow after completion to cover defect repairs, whatever the handover date turns out to be. Escrow protects capital, but it does not itself compensate for delays; those terms sit in the Sales and Purchase Agreement. How the handover defect inspection works alongside that retention is covered in The Cove 2 snagging inspection guide.

No. Every payment toward the price of a Cove 2 unit bought from the developer must go into the DLD-registered escrow account 0015*****780501 at Dubai Islamic Bank (the full number sits in the Escrow Details section above), exactly as recorded in the Sales and Purchase Agreement. A request to send funds to a personal account, an agent's account or an alternative company account, particularly one offering a discount for paying directly, is the standard pattern of payment fraud, however official the paperwork looks. Any such request should be checked against the escrow account registered in Dubai REST and the details in the Sales and Purchase Agreement before any funds move.

If the Dubai Land Department cancels a registered project, RERA takes control of the escrow account and buyer refunds are processed from the protected funds under DLD supervision. That protection applies only to money paid into the registered account; funds sent anywhere else sit outside it. With construction recorded at 100 percent on 29 April 2026 and the register listing the project as Finished, The Cove 2 is far past the stage where cancellation is a realistic concern, but the mechanism exists regardless. The wider framework is explained in the Dubai Land Department guide.

The escrow account protects buyer capital paid into it and ties its release to recorded construction progress. It does not compensate for delays, guarantee a resale price or a rental return, or protect money sent to any other account. Defects found at handover are handled through the developer's rectification obligations, with the post-completion retention giving that process financial weight, and the terms of each purchase sit in its own Sales and Purchase Agreement.

The Cove 2 was registered on 28 October 2022, started on 10 February 2023 and recorded at 100 percent on 29 April 2026, about eight months ahead of its registered completion date of 31 December 2026, after DCD, LPG and DDA building completion approvals issued between 13 February and 21 April 2026. Recent Emaar handovers elsewhere in Dubai include Creek Palace (March 2026), Seagate (September 2025), June (June 2025) and Bliss (November 2024), dates taken from independent tracking of Emaar's portfolio and not verified against DLD records. The project brochure reported more than 81,600 residential units delivered by Emaar, a figure dated 31 December 2021.

In the Dubai REST app, Services and then Project Status lead to the project search, where The Cove 2 is found by project number 2450. The Escrow Account panel for that project lists the bank as Dubai Islamic Bank (Public Joint Stock Company) together with the escrow account number, which can then be compared with the Escrow Details section above and with the Sales and Purchase Agreement before any transfer.