Beach Walk Residence 3 Escrow Account

The escrow account for Beach Walk Residence 3 is held at United Bank Limited (Management Office) under account number 2009*****, with the complete number shown in the Escrow Details section above. Dubai Land Department records link this trust account to project number 3285, which was registered on 30-09-2024.

Each payment under the 60/40 plan is made into escrow: 20% at booking, five dated instalments between 15 December 2024 and 15 March 2026 worth 40% together, and 40% on completion. The developer receives money from the account only as DLD inspections record progress. At the 20 July 2026 inspection, all six dated instalments (60% of the price) had fallen due and the register showed 82.01%; the 40% completion payment is still to come, with handover stated by the developer for Q4 2026.

82.01% is the figure the DLD inspection of 20 July 2026 placed on the project register; the reading before it was 67.21%, and the register gives no date for that earlier entry. According to the RERA report issued on that date, enabling, foundation, structure and internal works were completed, while the external envelope, MEP and internal finishes were still progressing. Releases from escrow can only follow stages the register has recorded, so money tied to the outstanding works, the completion payment and the retention remains in the account. Each reading is logged on the Beach Walk Residence 3 construction updates page.

No. The 4% DLD registration fee is a government charge collected by the Dubai Land Department, and it never enters the project escrow account. It is payable at the booking step together with the 20% booking payment; only the 20% is deposited into escrow as purchase money.

Escrow protection is tied to inspections, not to dates. Whenever completion arrives, the money remains in the account and leaves it only as DLD inspections record progress. What escrow does not do is pay compensation if completion comes later than planned; any such terms belong to the Sales and Purchase Agreement. The developer's stated handover for Beach Walk Residence 3 is Q4 2026, and Dubai REST shows the current registered completion date for project 3285.

After completion, the escrow framework keeps a retention in the project account to pay for defect repairs, so not all of the money moves to the developer when construction ends. Neither the retention amount nor its release period appears in the Beach Walk Residence 3 documents on file; both are set by the Sales and Purchase Agreement. The role of an independent inspection of a furnished unit around the Q4 2026 handover is covered in the Beach Walk Residence 3 snagging inspection guide.

No. The Beach Walk Residence 3 plan routes payments to the DLD-registered escrow account 2009***** at United Bank Limited, the account named in the Sales and Purchase Agreement, and the complete number appears in the Escrow Details section above. Instructions to pay a private person, a broker or some other company account, particularly when a discount is offered for bypassing escrow, are the textbook shape of payment fraud, however convincing the documents look. The reliable test for any such instruction is a comparison with the Escrow panel for project 3285 on Dubai REST and with the agreement itself before money is released.

Dubai REST lists the project under Services, Project Status, as project 3285, registered under the name Beach Walk Residences 3 By Imtiaz. The project's Escrow panel names United Bank Limited (Management Office) and gives the escrow account number, which should be identical to the number on this page and in the Sales and Purchase Agreement. Since the register uses the plural Residences, searching by the project number avoids a missed match.

The registered developer is IMTIAZ REAL ESTATE INVESTMENT & DEVELOPMENT L.L.C, developer number 1129, as shown on the DLD project record and on the RERA inspection report for project 3285. The building is marketed as an Imtiaz Developments project; the registered company name is the one the Dubai Land Department holds on file.

According to the developer's announcements, the earlier Beach Walk Residence was the first residential project on Dubai Islands to be completed and delivered, and Westwood Grande in Jumeirah Village Circle was reported in December 2024 as delivered ahead of schedule. The developer also lists Westwood Grande II and Pearl House in Jumeirah Village Circle and Hyde Walk in Jumeirah Garden City among its delivered buildings. Beach Walk Residence 3 is recorded as Active on the DLD register, at 82.01% on 20 July 2026, and the developer states handover for Q4 2026.

The main refund route out of a project escrow account is cancellation: RERA takes control of the escrow account if a project is cancelled, and buyers are repaid from the protected balance under the supervision of the Dubai Land Department. That route covers only money paid into the registered account, which is the practical reason every payment belongs there. Beach Walk Residence 3 is recorded as Active at 82.01% on the register, and the mechanism stands at any stage. Individual refund claims, for example after a contract is terminated, follow the Sales and Purchase Agreement and the relevant Dubai Land Department procedures, which are summarised in the Dubai Land Department guide.

Escrow safeguards buyer capital by linking releases to recorded construction; it is not insurance. It pays no compensation if completion moves, promises nothing on resale prices or rents, and does not meet the service charges and utility bills that start after handover. The 4% DLD registration fee sits outside it, and so does any payment sent to an account other than the registered escrow account.