Cove Edition 4 by Imtiaz Escrow Account

First Abu Dhabi Bank P.J.S.C. holds the escrow account for Cove Edition 4 by Imtiaz, account number 1011*****8110043 (shown in full in the Escrow Details section above), linked to DLD project number 3483, which was registered on 28-01-2025.

Cove Edition 4 by Imtiaz is registered on Dubai REST as "Cove Edition Residence 4 By Imtiaz" under project number 3483, with the developer recorded as IMTIAZ REAL ESTATE INVESTMENT & DEVELOPMENT L.L.C, developer number 1129. The project's Escrow panel names First Abu Dhabi Bank P.J.S.C. as the bank, and the lookup is set out step by step in the Verify section of this page.

Every dated instalment on both Cove Edition 4 payment options fell due by 15 June 2026: 50 percent of the price on Option 1 (50/50) and 55 percent on Option 2 (70/30), booking payment included. Those payments belong in the project escrow account, and the developer draws on the account as the Dubai Land Department records construction progress, which stood at 30.16 percent on the DLD register at the 4 August 2026 inspection. The difference between payments due and progress recorded is the balance the escrow framework is designed to keep under supervision.

On Option 1 the remaining 50 percent falls due on completion, and on Option 2 15 percent falls due on completion, with handover expected in Q4 2026. Option 2 then spreads the last 30 percent over three years after handover at 2.5% per quarter; those post-handover instalments are paid to the developer under the terms of the Sales and Purchase Agreement rather than as construction-period escrow payments. Payment instructions on a completion notice can be matched against the escrow account registered for project 3483 in Dubai REST.

No. The 4% DLD registration fee for Cove Edition 4 is a government fee calculated on the purchase price and paid to the Dubai Land Department at booking, alongside the 20 percent booking payment. It does not pass through the project escrow account and is not part of the price that escrow protects.

No. Off-plan payments for Cove Edition 4 belong only in the DLD-registered escrow account 1011*****8110043 at First Abu Dhabi Bank (the full number is in the Escrow Details section above), as set out 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 sweetened with a discount for paying outside escrow, fits the typical pattern of payment fraud however genuine the paperwork appears. Any such request is measured against the escrow record for project 3483 in Dubai REST and against the SPA before money moves.

Money already paid remains in the trust account, and releases to the developer keep following recorded construction progress rather than dates. Imtiaz markets handover for Q4 2026, while the DLD record for project 3483 lists a registered completion date of 21-01-2027, a regulatory deadline, not a forecast. Escrow protects capital but does not pay compensation; the terms that apply if completion moves sit in the Sales and Purchase Agreement. After completion, a retention portion stays in escrow against defects. Progress readings are tracked on the Cove Edition 4 by Imtiaz construction updates page.

Under the escrow framework, RERA takes control of the escrow account if a project is cancelled, and refunds to Cove Edition 4 buyers would be handled from the balance held there under Dubai Land Department supervision. That protection reaches only money paid into the registered account for project 3483; funds sent anywhere else fall outside it. How the framework operates across Dubai is explained in the Dubai Land Department guide.

Yes. Under the escrow framework a retention portion of the project funds stays in the account after completion to cover the repair of defects that surface once owners move in. The Cove Edition 4 sources do not state a retention percentage or period, so the amount and duration are those set by the regulator and the Sales and Purchase Agreement.

The Cove Edition 4 escrow account protects buyer capital paid into it. It does not compensate for a completion that moves, fix a handover date, protect money sent to any other account, hold the 4% DLD registration fee, or shield a buyer from changes in market value or rental demand. Completion terms and remedies sit in the Sales and Purchase Agreement.

Imtiaz has announced Beach Walk Residence, with 80 residences, as the first residential project completed and handed over on Dubai Islands, and Westwood Grande in Jumeirah Village Circle as handed over ahead of schedule in December 2024. Westwood Grande II and Pearl House in Jumeirah Village Circle and Hyde Walk in Jumeirah Garden City are also listed among its delivered projects. These are developer-reported outcomes for other buildings, not a commitment about Cove Edition 4.