Beach Walk Grand Escrow Account

First Abu Dhabi Bank P.J.S.C. (FAB) holds the escrow account for Beach Walk Grand, account number 1031*****9863002 (shown in full in the Escrow Details section above). The account is recorded against DLD project number 3367, which the Dubai Land Department registered on 30 December 2024.

The Beach Walk Grand plan is 60/40 and runs on calendar dates rather than construction stages: 20% on booking (November 2024), five instalments totalling 40% from 15 February 2025 to 15 July 2026, and 40% on completion (November 2026). Every instalment is paid into the escrow account, and the bank releases funds to the developer only against construction progress recorded under DLD supervision. By 15 July 2026 the dated instalments came to 60% of the price, while the DLD register reading on 10 August 2026 was 53.22%; one figure counts buyer payments and the other counts recorded construction, and escrow is the mechanism that ties releases to the second.

The Dubai Land Department project register shows 53.22% progress for Beach Walk Grand at the inspection dated 10 August 2026. According to the monitoring report for that inspection, the enabling, piling, foundation and substructure works were complete, while the superstructure, internal works, internal finishes and MEP works were in progress. Releases from escrow to the developer follow recorded progress, so the stages still to be recorded govern the funds still to be released. Reading-by-reading detail is tracked on the Beach Walk Grand construction updates page.

No. The 4% DLD registration fee falls due at booking, alongside the 20% booking instalment, but it is paid to the Dubai Land Department for registering the purchase, not into the Beach Walk Grand escrow account. The escrow account holds payments toward the purchase price only, so the fee is never part of the balance the bank releases to the developer.

Yes. Money in the Beach Walk Grand escrow account stays there and is released only against recorded construction progress, whatever the calendar says, and a retention amount remains in the account after completion against defect repairs. Escrow safeguards the capital paid in; it does not compensate buyers for a later handover, and any delay terms are set by the Sales and Purchase Agreement.

No. All off-plan payments for Beach Walk Grand belong in the DLD-registered escrow account 1031*****9863002 at First Abu Dhabi Bank (the full number sits in the Escrow Details section above), as recorded 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, matches the standard pattern of payment fraud however genuine the paperwork appears. The test for any such instruction is whether it matches the Escrow panel for project 3367 in Dubai REST and the escrow clause of the Sales and Purchase Agreement; one that does not match is not paid.

RERA takes control of the escrow account if a project is cancelled. In that event, refunds to Beach Walk Grand buyers are paid from the funds held in the account, supervised by the Dubai Land Department. Payments made to any other account fall outside that arrangement, which is why the registered escrow account is the only safe destination for instalments. How the DLD regulates escrow across the emirate is covered in the Dubai Land Department guide.

Beach Walk Grand is marketed by Imtiaz Developments, and the Dubai Land Department register records its developer as IMTIAZ BWG REAL ESTATE DEVELOPMENT L.L.C, developer number 2067. The monitoring report for project 3367 carries the same developer name and number together with the trust account bank, First Abu Dhabi Bank P.J.S.C.

Imtiaz Developments has announced the completion and handover of Beach Walk Residence on Dubai Islands, an 80-residence project it reported as the first residential handover on the islands by any developer, and of Westwood Grande in Jumeirah Village Circle, reported as handed over ahead of schedule in December 2024. The developer also names Westwood Grande II and Pearl House in Jumeirah Village Circle and Hyde Walk in Jumeirah Garden City among its completed projects. These are developer announcements, not Dubai Land Department register entries.

The Beach Walk Grand escrow account holds payments toward the purchase price while the building is under construction and releases them to the developer against recorded progress. It does not cover money sent to any other account, the 4% DLD registration fee paid to the Dubai Land Department, agency fees, service charges, rental income or resale value, and it does not compensate for a later handover, which is a matter for the Sales and Purchase Agreement.

After booking, a Beach Walk Grand unit is registered with the Dubai Land Department under Oqood, the interim register for off-plan sales, which records the buyer against the unit within project number 3367. Once the building is completed and the balance due on completion is paid, the Oqood registration is converted into a title deed in the buyer's name.

The Dubai REST app lists Beach Walk Grand under Services, Project Status, where a search for project number 3367 or the register name Beach Walk Grand By Imtiaz opens the project record. Its Escrow panel shows the bank name, First Abu Dhabi Bank P.J.S.C., and the escrow account number, and it is the reference against which payment instructions and the escrow details in the Sales and Purchase Agreement are compared.