The Quayside Escrow Account

Abu Dhabi Commercial Bank (ADCB) holds the escrow account for The Quayside, account number 1271*****20003 (the full number is in the Escrow Details section above). The account sits against DLD project number 2815, which entered the Dubai Land Department register on 16 November 2023.

No. Every payment toward the purchase price of a unit at The Quayside belongs in the DLD-registered escrow account 1271*****20003 at Abu Dhabi Commercial Bank (the full number is in the Escrow Details section above), as recorded in the Sales and Purchase Agreement. A request to send money to a personal account, a broker's account or a different company account, particularly one sweetened with a discount for paying outside escrow, fits the standard pattern of payment fraud however genuine the paperwork appears. Before any money moves, a request of that kind is tested against the Escrow panel for project 2815 in Dubai REST and against the SPA.

In the Dubai REST app, the Project Status service under Services finds the project by its number, 2815, or by its register name, The Quayside. The project's Escrow panel shows the bank name, Abu Dhabi Commercial Bank, and the escrow account number, which should match the Sales and Purchase Agreement and every payment instruction digit for digit. The same record shows the project status (Active), the registration date and the most recent inspection reading.

The Quayside's 70/30 plan includes four 5% instalments due on completion of 30%, 40%, 50% and 60% of construction, alongside instalments timed from each buyer's reservation date. Buyer payments are held in the escrow account and paid out to the developer as construction progress is recorded through the DLD inspection process. At the reading recorded on 9 June 2026, the DLD register showed 54.57%, past the 30%, 40% and 50% milestones but short of 60%; the developer's own stage notices decide when each instalment is requested. Inspection readings are tracked on The Quayside construction updates page.

The final 30% of The Quayside price falls due on completion; the payment plan attaches no calendar date to it. The Sales and Purchase Agreement sets out how and where the completion payment is made, and an instruction naming any account other than the registered escrow account for project 2815 is a reason to check Dubai REST and the SPA before funds move. With the Q1 2026 handover from the original schedule now passed, the timing of this payment follows the current completion date as confirmed by Ellington in writing.

No. The 4% DLD registration fee for The Quayside is paid to the Dubai Land Department alongside the 20% booking payment and does not enter the escrow account. It covers registration of the purchase on the DLD record (Oqood for an off-plan unit), while the escrow account holds payments toward the purchase price itself.

A registered completion date passing does not release escrow funds. Money in The Quayside escrow account stays under DLD supervision and continues to be released only against construction progress recorded through inspections, whatever the calendar shows. The register for project 2815 carries a completion date of 31 March 2026, which has passed; the Q1 2026 handover in the original schedule has passed as well, and construction is continuing. Because a registered date can be updated on the DLD record, the working position comes from three sources together: the current entry in Dubai REST, the expected handover date confirmed by Ellington in writing, and the completion clause in the SPA. Escrow protects capital while a project completes; it does not compensate for changes in timing, and any such terms sit in the Sales and Purchase Agreement.

Should the Dubai Land Department cancel a registered project, RERA takes control of the escrow account, and refunds to buyers come out of the protected balance under DLD supervision. That protection reaches money paid into the registered account; funds sent anywhere else sit outside it, which is why payments for The Quayside go only to the ADCB escrow account for project 2815. How the regulator oversees off-plan projects is covered in the Dubai Land Department guide.

Yes. Under the escrow framework, a retention portion stays in the account after completion to cover defect repairs instead of passing to the developer straight away. For buyers at The Quayside, that held-back portion means funds remain in the system while defects found at or after handover are addressed, which is why a thorough inspection of the unit before accepting it carries real weight. The exact retention terms sit in the escrow rules and the Sales and Purchase Agreement.

The DLD record for project 2815 lists Quayside Developers L.L.C as the registered developer of The Quayside, which makes it the name to expect on the DLD and RERA records for the project. The project itself is marketed by Ellington Properties, the name that appears on its sales material.

Ellington Properties announced that handover at Harrington House, a 92-residence project in Jumeirah Village Circle, began on 1 November 2022, and described it as completed ahead of schedule. The developer also 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 delivered projects. These are Ellington Properties announcements rather than records of The Quayside's registered developer, and a past record does not fix The Quayside's own completion date.

The Quayside escrow account keeps buyer payments made into the registered ADCB account under DLD supervision, releases them only as construction progress is recorded, and carries the refund mechanism if the project is cancelled. It does not cover money sent to any other account, it does not hold the 4% DLD registration fee, it does not compensate buyers if completion moves (any such terms sit in the Sales and Purchase Agreement), and it does not guarantee a handover date, a resale price or a rental return.