Beach Walk Residence Escrow Account

The Beach Walk Residence escrow account is held by First Abu Dhabi Bank P.J.S.C. under account number 1011*****8110028 (shown in full in the Escrow Details section above), linked to DLD project number 3162, which was registered with the Dubai Land Department in July 2024.

Buyer payments under the launch plan went into the project escrow account rather than to the developer directly. The bank then released funds to Imtiaz in stages as RERA inspections recorded construction progress, so money followed work on site. That cycle ran through the build up to the DLD register reading of 100% on 18 May 2026, and the regulatory framework behind it is covered in the Dubai Land Department guide.

The DLD register reads 100% at the inspection dated 18 May 2026, up from a previous reading of 93.93% whose date the register does not show, which means every construction-linked release stage of the escrow account has been reached. The RERA inspection report of the same date records the project as Completed, with a Building Completion Certificate issued by Trakhees on 14 May 2026. The full inspection record is tracked on the Beach Walk Residence construction updates page.

Under the original 60/40 launch payment plan, 40% of the price falls due on completion. That payment is made into the project escrow account in line with the Sales and Purchase Agreement, and the exact payment instruction is confirmed with the developer and matched against the account registered in Dubai REST. Units still available today are sold on terms the developer confirms at reservation.

No. The 4% DLD registration fee goes to the Dubai Land Department as the charge for registering the sale, so it is never held in the escrow account. Under the launch plan it was paid at booking alongside the 20% deposit, and only the deposit went into escrow.

No. Payments due to the developer under a Beach Walk Residence Sales and Purchase Agreement go to the DLD-registered escrow account 1011*****8110028 at First Abu Dhabi Bank (the full number sits in the Escrow Details section above), matching the account named in the agreement. Instructions to pay a personal account, an agent, or a different company account are a recognised fraud pattern, and a discount offered for paying outside escrow is a common lure. Any such instruction is compared with the escrow panel for project 3162 in Dubai REST and with the agreement before money moves.

In the Dubai Land Department register, Beach Walk Residence appears as "Beach Walk Residences 1", project number 3162, with the status Finished. The registered developer is Imtiaz Real Estate Investment & Development L.L.C, developer number 1129, and the trust account bank is First Abu Dhabi Bank P.J.S.C. These identifiers locate the project and its escrow panel in Dubai REST.

Under RERA rules, a retention amount is typically held in a project escrow account after completion as cover for defects, before the balance is released to the developer. The developer's project documents state no retention figure or release date for Beach Walk Residence, so the specific terms are those set by RERA and the Sales and Purchase Agreement. Defect checks on individual apartments before acceptance are covered in the Beach Walk Residence snagging inspection guide.

Off-plan buyers at Beach Walk Residence were registered under Oqood, the Dubai Land Department's interim register for units sold before completion. Once the building is complete and the completion payment and handover formalities are settled, the registration is typically converted to a title deed issued by the DLD in the owner's name. A purchase of a ready unit is registered directly with the DLD, and the title deed is issued on transfer.

Escrow protects the capital paid into the project account while a building is constructed. It does not compensate buyers for delays, it does not repair defects by itself, and it offers no protection for money sent to any other account. Delay and defect terms sit in the Sales and Purchase Agreement, and service charges and utility connection costs fall outside the escrow account.