Key takeaways
- Every payment for Xenia Residence goes into the project’s escrow account at United Arab Bank, not to NYX.
- The bank releases funds to the developer only as construction progresses, under rules set by the Dubai Land Department (DLD) and the Real Estate Regulatory Agency (RERA).
- Your purchase is registered with the DLD in the Oqood off-plan register, which records the unit in your name.
- You can check the project yourself: DLD Project No. 3880, RERA Permit No. 1468647, verifiable on the DLD’s Madmoun portal.
Buying a home before it is built means paying for something you cannot yet stand in. Dubai’s off-plan rules exist to make that safe: buyers’ money is ring-fenced in a regulated escrow account for the project, the developer can only draw on it as the building rises, and every sale is recorded with the government. This page explains how that works for NYX buyers, step by step, and how to verify each part independently.
Xenia Residence escrow bank: United Arab Bank.
DLD Project No. 3880 · RERA Permit No. 1468647.
You pay the escrow account directly, never NYX.
What happens to each payment
- Reservation and sales agreement. You choose a unit and sign the sales and purchase agreement (SPA), which sets out the price, payment schedule and handover date.
- DLD registration (Oqood). The sale is registered with the Dubai Land Department in the Interim Real Estate Register, known as Oqood. This creates an official government record of your purchase and prevents the same unit being sold twice. The DLD registration fee is paid at this stage.
- Payments into escrow. Each instalment is paid by bank transfer directly into the Xenia Residence escrow account at United Arab Bank. Our sales team gives you the account details in writing.
- Construction-linked release. Funds are released to the developer only against construction progress, as certified under DLD and RERA rules. Money you pay today cannot be used for another project or for anything other than building Xenia Residence.
- Handover and title deed. On completion (Xenia Residence is scheduled for March 2027), you settle the final payment, receive your keys, and the Oqood record is converted into a title deed in your name.
The rules behind it
Off-plan escrow in Dubai is governed by Dubai Law No. 8 of 2007 on escrow accounts for real estate development, and off-plan registration by Dubai Law No. 13 of 2008 on the Interim Real Estate Register. In practice this means a developer must register the project and open an approved escrow account before selling units, buyers’ payments must go into that account, and withdrawals must follow construction progress. The escrow bank acts as trustee, and RERA and the DLD supervise the account.
If a registered project were cancelled, the regulator oversees what happens to the escrow funds, including returning money to buyers. This is the core protection: your payments sit with a regulated bank under government supervision, not on a developer’s balance sheet.
Verify it yourself
You do not need to take our word for any of this.
- Check the project on Madmoun. Scan the QR code on the Xenia Residence page or open it on the DLD’s official Madmoun portal. It confirms the project registration and permit.
- Check the numbers. Xenia Residence is DLD Project No. 3880, RERA Permit No. 1468647. Any advertisement for the project should carry the same numbers.
- Check your own registration. After purchase, your Oqood registration can be viewed through the DLD’s official channels, including the Dubai REST app.
Protect yourself from payment fraud
Property buyers worldwide are targeted by scams that imitate a seller’s email and send “updated” bank details. Three rules keep you safe with NYX:
- Payments for Xenia Residence go only to the project escrow account at United Arab Bank, in the project’s name. We will never ask you to pay a personal account or a different bank.
- Our bank details do not change by email. If you receive a message saying they have, do not pay; call us first.
- Before your first transfer, confirm the account details by phone on +971 56 734 7533.
Calla Isle
Calla Isle on Dubai Islands is our second development. Its DLD project registration and escrow details will be published here once registration is complete.
Frequently asked questions
Do I pay NYX directly when I buy off-plan?
No. Instalments for Xenia Residence are paid by bank transfer into the project’s escrow account at United Arab Bank. The developer receives funds from that account only as construction progresses.
Which bank holds the Xenia Residence escrow account?
United Arab Bank. Our sales team provides the account details in writing, and you can confirm them by phone before paying.
How do I verify Xenia Residence is registered?
Xenia Residence is registered with the Dubai Land Department as Project No. 3880, RERA Permit No. 1468647. You can verify it on the DLD’s Madmoun portal using the QR code on the Xenia Residence page.
What is Oqood?
Oqood is the Dubai Land Department’s Interim Real Estate Register for off-plan property. Registering your purchase there records the unit in your name and prevents it being sold twice. At handover it is converted into a title deed.
What happens to my money if an off-plan project in Dubai is cancelled?
Buyers’ payments are held in the project’s escrow account under Dubai Law No. 8 of 2007. If a registered project is cancelled, RERA and the DLD supervise the escrow funds, including refunds to buyers.