Beach Walk Residence 2 Escrow Account

The Beach Walk Residence 2 escrow account is held by First Abu Dhabi Bank P.J.S.C., account number 1011*****6258005 (the complete number is in the Escrow Details section above). It is the trust account recorded against DLD project number 3224, registered with the Dubai Land Department on 28 August 2024.

The 60/40 launch plan routed every buyer payment into escrow first: 20% on booking, then five dated instalments from 15 October 2024 to 15 December 2025 totalling 40%, with the remaining 40% due on completion. Funds were released to the developer only against progress recorded at DLD inspections. At the inspection of 6 August 2026 the six dated instalments, together 60% of the price, were all due, and the 40% completion payment falls due at handover.

The DLD inspection dated 6 August 2026 recorded 100% on the project register, up from a previous reading of 97.15% whose date is not shown, and the project status reads Finished. The RERA inspection report of that date lists a Building Completion Certificate dated 9 July 2026. For the escrow account, this means the construction stages that releases were tied to are complete on the record, leaving the completion payment and the post-completion retention. The full inspection record is tracked on the Beach Walk Residence 2 construction updates page.

No. The 4% DLD registration fee is paid to the Dubai Land Department, not into the escrow account. On the launch plan it was paid at the booking step alongside the 20% booking instalment, which itself went into escrow. The fee is a government registration charge and is not part of the purchase money held for the project.

Under the escrow framework, a retention portion stays in the project account after completion to cover defect repairs, instead of being released to the developer with the construction stages. The project documents on file do not state the retention amount or its release period, so the Sales and Purchase Agreement is the reference for those terms. How an independent defect inspection fits this handover is covered in the Beach Walk Residence 2 snagging inspection guide.

No. Payments under the Beach Walk Residence 2 plan go into the DLD-registered escrow account 1011*****6258005 at First Abu Dhabi Bank (full number in the Escrow Details section above), as recorded in the Sales and Purchase Agreement. A request to send money to a private individual, to an agent, or to another company's account, particularly one paired with a discount for paying outside escrow, matches the usual pattern of payment fraud. A remaining unit bought today follows the payment terms written into its own Sales and Purchase Agreement, and any receiving account named there is checked against the project's escrow record in Dubai REST before funds move.

In the Dubai REST app, the project appears under Services, Project Status, as project number 3224 with the register name Beach Walk Residences 2. Its Escrow panel lists the bank as First Abu Dhabi Bank P.J.S.C. together with the escrow account number, which matches the number on this page and the escrow details in the Sales and Purchase Agreement. The register name uses the plural Residences, so a search by project number is the most reliable route.

The DLD project record and the RERA inspection report list the developer as IMTIAZ GHD REAL ESTATE DEVELOPMENT L.L.C, developer number 1641. The project is marketed under the Imtiaz Developments name, while the registered entity is the name shown on the DLD project record for Beach Walk Residence 2.

Imtiaz reported its earlier Beach Walk Residence on Dubai Islands as the first residential project on the islands to reach completion and handover, and reported in December 2024 that Westwood Grande in Jumeirah Village Circle was delivered ahead of schedule. Westwood Grande II and Pearl House in Jumeirah Village Circle and Hyde Walk in Jumeirah Garden City are also among its delivered buildings. Beach Walk Residence 2 itself recorded 100% on the DLD register on 6 August 2026, four days before its registered completion date of 10 August 2026.

Refunds from a project escrow account arise mainly when the Dubai Land Department cancels a registered project: RERA takes control of the escrow account if a project is cancelled, and buyer refunds are then handled from the protected funds under DLD supervision. Beach Walk Residence 2 is recorded as Finished, so cancellation is not a live scenario for this building. Refund rights in an individual case, such as a contract termination, are governed by the Sales and Purchase Agreement and the applicable Dubai Land Department procedures. The regulator's wider framework is covered in the Dubai Land Department guide.

Escrow protects buyer capital by tying releases to recorded progress; it does not compensate for delays, guarantee resale value or rental returns, or cover the service charges and utility costs that begin at handover. Delay and compensation terms sit in the Sales and Purchase Agreement. Money sent to any account other than the registered escrow account also falls outside its protection.