Beach Walk Grand 2 Escrow Account

First Abu Dhabi Bank P.J.S.C. (FAB) holds the Beach Walk Grand 2 escrow account, number 1011*****6258012 (the full number is in the Escrow Details section above). The account is linked to DLD project number 3724, which the Dubai Land Department registered on 11 July 2025.

Beach Walk Grand 2 is marketed by Imtiaz Developments. The Dubai Land Department record and the RERA monitoring report for project 3724 name the developer as IMTIAZ GHD REAL ESTATE DEVELOPMENT L.L.C, developer number 1641. Both names refer to the same developer; the registered form is the one used in the DLD and RERA records.

The Beach Walk Grand 2 schedule follows a 60/40 split set by dates: 20 percent at booking, six dated instalments totalling 40 percent between 15 October 2025 and 15 June 2027, and 40 percent on completion, with handover expected in Q4 2027. Each payment goes into the project escrow account at First Abu Dhabi Bank, and the bank releases funds to the developer against construction progress verified through the DLD inspection system, not against the payment dates.

By 15 June 2026 the plan had called 40 percent of the price: 20 percent at booking plus instalments of 5, 5 and 10 percent. The next 10 percent falls due on 15 October 2026. The DLD register read 23.53 percent construction progress at 14 September 2026. The two figures measure different things, a payment calendar and recorded site work, and the escrow account is the mechanism that ties developer releases to the second rather than the first. Each register reading is tracked on the Beach Walk Grand 2 construction updates page.

No. The 4% DLD registration fee falls due at booking alongside the 20 percent payment, but it is paid to the Dubai Land Department for registering the purchase, not into the project escrow account. It is a government fee on top of the purchase price, so it is not held for release to the developer.

No. Off-plan payments for Beach Walk Grand 2 belong in the DLD-registered escrow account 1011*****6258012 at First Abu Dhabi 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, or a different company account, particularly one offering a discount for paying direct, fits the common pattern of payment-diversion fraud, however formal the documents appear. Money sent outside the registered account falls outside the escrow protection described on this page.

Escrow protection does not lapse when a calendar date passes. Funds paid into the Beach Walk Grand 2 escrow account stay there until they are released against verified construction progress, so a later handover does not move them to the developer early. Escrow protects capital rather than compensating for time: any delay terms sit in the Sales and Purchase Agreement. Handover is expected in Q4 2027, while 15 December 2027 is what the DLD register shows as the registered completion date.

RERA takes control of the escrow account if a project is cancelled, and refunds to buyers are then handled from the money held in that account under Dubai Land Department supervision. That protection reaches only payments made into the registered Beach Walk Grand 2 account; funds sent anywhere else are not part of it. The regulation behind that safeguard is set out in the Dubai Land Department guide.

The Dubai REST app shows it directly. Under Services, then Project Status, a search for project number 3724 or "Beach Walk Grand 2 By Imtiaz" opens the project record, and its Escrow panel lists the bank, First Abu Dhabi Bank P.J.S.C., and the account number. Those two details are the ones to match against this page and the Sales and Purchase Agreement before a transfer.

According to developer announcements, Imtiaz completed and handed over Beach Walk Residence on Dubai Islands (80 residences), which it reports made it the first developer to complete and hand over a residential project on the islands, and handed over Westwood Grande in Jumeirah Village Circle ahead of schedule, as reported in December 2024. Imtiaz also names Westwood Grande II and Pearl House in Jumeirah Village Circle and Hyde Walk in Jumeirah Garden City in its track record. These are developer statements rather than DLD register entries.

The escrow account protects money paid into it. It does not guarantee a handover date or pay compensation for delay, since those terms sit in the Sales and Purchase Agreement. It does not cover funds sent to any other account, and it does not hold the 4% DLD registration fee, which goes to the Dubai Land Department. Questions about the finished residence itself, such as specification and furnishing, are matters for the Sales and Purchase Agreement rather than the escrow account.