Cove Boulevard by Imtiaz Escrow Account

Cove Boulevard's escrow account is held with First Abu Dhabi Bank P.J.S.C., account number 1091*****8110055 (shown in full in the Escrow Details section above). It is the trust account of DLD project number 3675, entered in the Dubai Land Department register on 28 May 2025.

In the Dubai REST app, the project sits under Services, then Project Status, and can be found by project number 3675 or by its register name, Cove Boulevard By Imtiaz. Its Escrow Account panel lists the bank and the account number, which should match both this page and the escrow details in the Sales and Purchase Agreement. Where the three ever differ, the Dubai REST record is the authoritative one.

Cove Boulevard's 60/40 plan collects payments on fixed calendar dates, while the escrow account releases funds to the developer only against progress recorded by the Dubai Land Department. By the register reading of 30 September 2026, the 20% booking payment and instalments of 5%, 10%, 5% and 5% had fallen due, 45% of the price in total, against registered progress of 10.45%. The total was still 45% on 26 October 2026; the next 5% falls on 15 November 2026, followed by 5% on 15 March 2027 and 5% on 15 October 2027. Each new reading is tracked on the Cove Boulevard construction updates page.

No. The 4% DLD registration fee falls due at booking together with the 20% booking payment, but it is a government fee paid to the Dubai Land Department and is not held in the Cove Boulevard escrow account. The escrow account receives payments toward the purchase price only.

Under the 60/40 plan, the final 40% is due on completion, which is expected in Q2 2028. A retention portion of the escrow funds is held after completion to cover defect repairs. Under the developer's 70/30 option, 10% is due on completion and the remaining 30% follows in quarterly payments of 2.5% for three years after handover, on the terms set in the Sales and Purchase Agreement.

Yes. The money stays in the escrow account and is released only as the Dubai Land Department records construction progress, so a later handover does not loosen that control. Escrow protects capital while the tower is completed, but it does not pay compensation for a late handover; delay terms sit in the Sales and Purchase Agreement. The expected handover for Cove Boulevard is Q2 2028.

No. Every off-plan payment toward a Cove Boulevard unit belongs in the DLD-registered escrow account 1091*****8110055 at First Abu Dhabi Bank (the full number is in the Escrow Details section above), as recorded in the Sales and Purchase Agreement. A request to pay into a personal account, an agent's account or a different company account, particularly one that comes with a discount for doing so, follows the standard pattern of payment fraud however official the paperwork appears. The Dubai REST escrow record and the Sales and Purchase Agreement are the two references that settle whether an account is genuine.

When a registered project is cancelled by the Dubai Land Department, RERA takes control of the escrow account; refunds to buyers are then handled from the protected funds under DLD supervision. That protection reaches only money paid into the registered account; payments sent anywhere else fall outside it. The wider DLD framework is set out in the Dubai Land Department guide.

The DLD register lists IMTIAZ REAL ESTATE INVESTMENT & DEVELOPMENT L.L.C, developer number 1129, as the developer of project 3675. The project is marketed under the Imtiaz Developments name, while the registered company name is the one shown in the Dubai REST project record and the RERA report.

Imtiaz has announced completed projects in Dubai including Beach Walk Residence on Dubai Islands, which it reported as the first residential project completed and handed over there, and Westwood Grande in Jumeirah Village Circle, with handover reported in December 2024. Westwood Grande II and Pearl House in Jumeirah Village Circle and Hyde Walk in Jumeirah Garden City are also among the group's completed projects. These are Imtiaz group announcements, and the DLD register does not attribute them to the company registered for Cove Boulevard.

The escrow account protects money paid into it toward the purchase price. It does not hold the 4% DLD registration fee, it does not protect payments sent to any other account, and it does not compensate buyers for a late handover, since delay terms sit in the Sales and Purchase Agreement. Escrow also gives no assurance on rental income, resale value or the finish of the completed unit; defect repairs after completion are supported by the retention portion rather than by the account as a whole.