Verve City Walk Escrow Account

Abu Dhabi Commercial Bank holds the escrow account for Verve City Walk, account number 1050*****20022 (shown in full in the Escrow Details section above). The account is recorded against DLD project number 3152, registered with the Dubai Land Department on 03 July 2024.

The Verve City Walk launch schedule sets 20 percent at booking, six dated construction-period instalments totalling 55 percent (November 2024, March 2025, August 2025, January 2026, June 2026 and November 2026) and 25 percent on handover. Five of those dates have already passed, so the schedule for a purchase made now is the one Meraas confirms at booking and records in the Sales and Purchase Agreement. Every instalment, whatever its date, is paid into the escrow account and reaches the developer only as verified construction progress allows.

No. The 4% DLD registration fee is paid to the Dubai Land Department at booking, separately from the escrow account, and covers registration of the sale on Oqood, the off-plan register. Only payments toward the purchase price go into the Verve City Walk escrow account.

Funds leave the Verve City Walk escrow account only against construction progress verified through DLD-supervised inspections, not according to the payment calendar. The DLD register reading at the 04 August 2026 inspection was 13.71 percent, up from 10.74 percent at the previous inspection, with enabling, foundation, substructure and superstructure works progressing. Each new reading is tracked on the Verve City Walk construction updates page.

No. Every off-plan payment for Verve City Walk belongs in the DLD-registered escrow account 1050*****20022 at Abu Dhabi Commercial Bank (the full number is in the Escrow Details section above), matching the escrow details in the Sales and Purchase Agreement. A request to pay a personal account, an agent's account or a different company account, particularly one offering a discount for paying outside escrow, is a recognised fraud pattern, and polished documents do not change that. The reference point is the Dubai REST record for project 3152: a payment instruction that does not match it is not a valid instruction.

Yes. Instalments already paid stay in the escrow account, and releases keep following verified construction progress rather than the date. The current handover estimate is Q3 2028. Escrow protects the capital while construction continues; it does not itself pay compensation for delay, and any delay terms sit in the Sales and Purchase Agreement.

If the Dubai Land Department cancels a registered project, RERA takes control of the escrow account and buyer refunds are paid out of the protected balance under DLD supervision. That safety net reaches only the money deposited in the registered account, which is why routing matters from the first payment. The wider regulatory framework is explained in the Dubai Land Department guide.

The account is listed in the Dubai REST app under Services, then Project Status, by searching project number 3152 or the name Verve City Walk. The project record includes an Escrow panel showing the bank name and account number, which match the Escrow Details section of this page and the escrow clause of the Sales and Purchase Agreement.

The Verve City Walk escrow account protects buyer payments toward the purchase price. It does not compensate for delays, guarantee resale value or rental returns, or hold the 4% DLD registration fee, which goes to the Dubai Land Department. Service charges after handover fall outside it, and so does any money sent to an account other than the registered escrow account.

CITYWALK RESIDENTIAL 1 L.L.C is the registered developer of Verve City Walk, DLD developer number 1109, and the project is developed under the Meraas brand. The escrow account at Abu Dhabi Commercial Bank is held for project 3152 under that registration.

Meraas handed over the first BVLGARI Residences homes on Jumeirah Bay Island in February 2018 and the first phase of Bluewaters Residences on Bluewaters Island in February 2019, two addresses the Verve brochure also names in the Meraas portfolio. Verve City Walk itself was registered with the DLD on 03 July 2024 and its construction start is logged as 15 November 2024.

A Verve City Walk purchase is registered on Oqood, the Dubai Land Department off-plan register, once the Sales and Purchase Agreement is signed and the booking payment and 4% DLD registration fee are paid. The title deed follows completion and handover, once the final instalment is settled and the unit is transferred through the DLD.