Cotier House 2 Escrow Account

First Abu Dhabi Bank P.J.S.C. (FAB) holds the Cotier House 2 escrow account, account number 1011*****3396002 (the unmasked number is available under Escrow Details at the top of this page). The account is tied to Dubai Land Department project number 3671, which the register records as registered on 24 April 2025.

Instalments paid for Cotier House 2 stay in the escrow account until construction progress is recorded through inspections filed with the Dubai Land Department. The bank then releases funds to the developer in line with that recorded progress, not in line with the payment dates. The latest DLD register reading was 16.06 percent after the inspection dated 20 July 2026, and each dated reading is tracked on the Cotier House 2 construction updates page.

The Cotier House 2 plan is date-based: 20 percent on booking in March 2025, 5 percent on 15 June 2025, 5 percent on 15 October 2025, 10 percent on 15 January 2026, 10 percent on 15 May 2026 and 10 percent on 15 September 2026, with the final 40 percent due on completion in April 2027. Payment dates follow that schedule, while releases from escrow follow inspected progress. By the 20 July 2026 reading date, 50 percent of the price had fallen due on the launch plan against a DLD register reading of 16.06 percent, and money paid ahead of the work stays under escrow supervision until inspections record further progress. Buyers entering after launch settle the instalments already due at signing, with the current schedule confirmed by the developer.

No. The 4% DLD registration fee on a Cotier House 2 purchase is paid to the Dubai Land Department at the booking stage, alongside the 20 percent booking payment, and it is not held in the escrow account. The escrow account receives the purchase price instalments; the fee is a government registration charge and never passes to the developer.

After booking and signing of the Sales and Purchase Agreement, an off-plan Cotier House 2 unit is registered with the Dubai Land Department under Oqood, the interim register that records the buyer against the unit while the building is under construction. Once the building is complete, the completion payment is settled and handover formalities are finished, the Oqood registration is converted into a title deed issued by the Dubai Land Department. The expected handover for the building is Q2 2027.

Yes, the escrow protection continues whatever the calendar says. Funds paid toward Cotier House 2 stay in the escrow account and are released only against progress recorded by DLD inspections, so a later handover does not move money to the developer any faster. Escrow protects capital rather than compensating for time: delay terms sit in the Sales and Purchase Agreement. After completion, a retention portion remains in escrow as a reserve for defect repairs, and handover is currently expected in Q2 2027.

If a registered project such as Cotier House 2 were cancelled, RERA takes control of the escrow account; buyer refunds are then handled from the funds held in it under Dubai Land Department supervision. That protection reaches only money paid into the registered account, so payments sent anywhere else fall outside it. The wider regulatory framework for off-plan projects is covered in the Dubai Land Department guide.

No. Every off-plan payment for Cotier House 2 belongs in the DLD-registered escrow account 1011*****3396002 at First Abu Dhabi Bank (the complete number appears under Escrow Details at the top of this page), 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 usual pattern of payment-diversion fraud, however official the documents appear. The reliable test for any such request is a match with the project record in Dubai REST and with the escrow clause of the Sales and Purchase Agreement.

The Cotier House 2 escrow account can be checked in the Dubai REST app under Services, then Project Status, by searching project number 3671 or the register name Cotier House 2 By Imtiaz. The project record shows the escrow bank and account number, which match First Abu Dhabi Bank P.J.S.C. and the account in the Escrow Details section above, as well as the escrow clause of the Sales and Purchase Agreement.

Escrow protects the purchase price paid into the Cotier House 2 account while the building is under construction. It does not cover money paid to any other account, the 4% DLD registration fee paid to the Dubai Land Department, compensation for a later handover (those terms sit in the Sales and Purchase Agreement), or the future resale price and rental income of the unit. It safeguards capital; it does not guarantee returns.

Imtiaz Developments states that its Beach Walk Residence, with 80 residences, was the first residential project completed and handed over on Dubai Islands. Its other delivered Dubai projects include Westwood Grande in Jumeirah Village Circle, reported by Gulf Business in December 2024 as handed over ahead of schedule, Westwood Grande II and Pearl House in Jumeirah Village Circle, with Pearl House also handed over ahead of schedule, and Hyde Walk in Jumeirah Garden City. Cotier House 2 itself was registered on 24 April 2025 and is under construction.

The RERA progress monitoring report for DLD project number 3671 records the developer of Cotier House 2 as IMTIAZ UG REAL ESTATE DEVELOPMENT L.L.C, developer number 2212. The project is marketed under the Imtiaz Developments name, and its escrow account at First Abu Dhabi Bank P.J.S.C. is tied to the project rather than to the company's general accounts.