The Crestmark Escrow Account

Commercial Bank of Dubai (PSC) holds the escrow account for The Crestmark, account number 1008*****0 (listed unmasked in the Escrow Details section above), registered against DLD project number 2832, which the Dubai Land Department recorded on 8 November 2023.

In the Dubai REST app, the Project Status service lists the project under number 2832 and the register name "The Crestmark". Its Escrow panel shows the bank name, Commercial Bank of Dubai (PSC), together with the escrow account number, and both should agree with this page and with the escrow clause of the Sales and Purchase Agreement ahead of any instalment.

Every instalment of the 70/30 plan is paid into the escrow account: 20% at booking; 10%, 10%, 5% and 5% at 30, 90, 150 and 240 days from the reservation date; four construction-linked 5% instalments at 30%, 40%, 50% and 60% construction; and 30% on completion. By the 7 August 2026 inspection, which the register records at 61.18%, all four construction-linked instalments had been triggered, with Ellington confirming the due date of each under the individual SPA. The bank releases funds to the developer against construction progress recorded through DLD inspections, and the dated readings are tracked on The Crestmark construction updates page.

The last 30% of the price is due on completion and goes into the escrow account in the same way as the earlier instalments. Q1 2026 was The Crestmark's originally scheduled handover quarter and it has now passed; the completion payment therefore follows whatever completion date Ellington confirms in writing, read together with the completion clause of each buyer's Sales and Purchase Agreement.

No. The 4% DLD registration fee is due at booking together with the down payment, but it goes to the Dubai Land Department to register the purchase and is never deposited in the project escrow account. Only the payment-plan instalments are paid into the Commercial Bank of Dubai escrow account.

Nothing about the escrow mechanism changes when a timetable moves: money already in the account stays there and is released only as DLD inspections record further progress. Escrow safeguards the capital itself; it pays no compensation for a later handover, and any remedy of that kind depends on the terms of the Sales and Purchase Agreement. For The Crestmark, Q1 2026 was the original handover quarter and has passed, so the expected date that now applies is the one Ellington confirms in writing.

No. Every off-plan instalment for The Crestmark belongs in the DLD-registered escrow account 1008*****0 at Commercial Bank of Dubai (the full number is in the Escrow Details section above), matching the escrow details recorded in the Sales and Purchase Agreement. A request to pay into a personal account, an agent's account or any other company account, particularly one offering a discount for paying outside escrow, fits the usual pattern of payment fraud, however official the documents look. Such a request is tested against the escrow account shown in Dubai REST and against the SPA before any money moves.

RERA takes control of the escrow account if a project is cancelled by the Dubai Land Department, and refunds to buyers are then paid out of the protected balance under DLD supervision. That protection covers money paid into the registered account; payments sent anywhere else sit outside it. With 61.18% recorded on the register at the 7 August 2026 inspection, The Crestmark is well into construction, yet the safety net applies at every stage of a build. How the DLD framework fits together is explained in the Dubai Land Department guide.

Yes. Under Dubai's escrow framework, a retention portion stays in the account after completion to cover the repair of defects, which gives the developer a financial incentive to fix what a handover inspection records. How an independent inspection works once Ellington issues the handover notice is covered in The Crestmark snagging inspection guide.

According to Ellington's announcements, Harrington House in Jumeirah Village Circle, a project of 92 residences, began handover on 1 November 2022, and the developer lists Belgravia Heights I in Jumeirah Village Circle, DT1 in Downtown Dubai, and Wilton Terraces and Wilton Park Residences in Mohammed Bin Rashid City among its completed projects. These records describe the developer's earlier projects and do not set a handover date for The Crestmark.

The Dubai Land Department register and the RERA progress report list the developer of The Crestmark as ELLINGTON PROPERTIES DEVELOPMENT L.L.C, developer number 1117, under project number 2832. That is the name shown in the register for this project, which is marketed under the Ellington Properties brand.