Cove Edition 6 by Imtiaz Escrow Account

The Cove Edition 6 escrow account is held with Ajman Bank P.J.S.C. under account number 0111*****014 (shown in full in the Escrow Details section above), recorded in Dubai REST under DLD project number 3803, which was registered on 30 June 2025.

Both Cove Edition 6 plans are date-based. Booking and dated construction installments are paid into the escrow account, and the bank releases funds to the developer against construction progress verified through DLD inspections rather than against the payment calendar. By the 13 October 2026 reading, the amount due had reached 40% of the price on Option 1 (50/50) and 50% on Option 2 (70/30), against a DLD register reading of 25.86%. The next installment under both options is 5% on 15 November 2026.

The DLD register reading dated 13 October 2026 is 25.86%, with a previous reading of 20.09% shown without a date. The RERA progress report of the same day notes that enabling works and the foundation were completed, while substructure, superstructure, internal works and MEP were progressing. Each reading is tracked on the Cove Edition 6 construction updates page.

Yes. Funds stay in the escrow account and are released only against inspected progress, whatever the calendar says. The DLD register records a completion date of 10-09-2027 and the developer's estimated handover is Q4 2027; written confirmation of the current timetable comes from the developer. Escrow protects capital while the building completes, but it does not compensate buyers for a change in the handover date; those terms sit in the Sales and Purchase Agreement.

No. Each off-plan payment for Cove Edition 6 belongs in the DLD-registered escrow account 0111*****014 at Ajman Bank (the full number sits 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 bundled with a discount for paying direct, matches the standard pattern of payment fraud however official the paperwork appears. Any such request is checked against the escrow record in Dubai REST and the Sales and Purchase Agreement before money moves.

Under the Dubai framework, RERA takes control of the escrow account if a project is cancelled, and refunds to buyers are handled from the funds held there under the supervision of the Dubai Land Department. That protection reaches only money paid into the registered account for project 3803; funds sent anywhere else sit outside it. The cancellation and refund framework is covered in the Dubai Land Department guide.

No. The 4% DLD registration fee on a Cove Edition 6 purchase is paid to the Dubai Land Department to register the sale, not into the project escrow account. It is paid alongside the 20% booking payment, and it is the booking payment that enters escrow.

The completion payment, 50% under Option 1 or 15% under Option 2, falls due on completion, estimated for Q4 2027. The remaining 30% under Option 2 is paid in 2.5% quarterly installments over three years after handover; those installments are paid to the developer under the Sales and Purchase Agreement, after the construction period that the escrow account covers.

The DLD record lists IMTIAZ COVE REAL ESTATE DEVELOPMENT L.L.C, developer number 2275, as the registered developer of Cove Edition 6 (project 3803). The project is marketed under the Imtiaz Developments name.

In the Dubai REST app, the Project Status service lists Cove Edition 6 under project number 3803 and the register name "Cove Edition Residence 6 By Imtiaz". Its Escrow panel shows the bank name and the account number, which correspond to the Escrow Details section of this page and to the escrow section of the Sales and Purchase Agreement.

Yes. Dubai's escrow framework holds a retention portion after completion to cover defect repairs, which keeps a financial incentive in place for the developer to fix faults identified when the apartment is inspected before handover. The exact share and period of the retention follow the applicable rules and the Sales and Purchase Agreement.

Imtiaz reports Beach Walk Residence on Dubai Islands as the first residential project completed and handed over there, with 80 residences, and reports that Westwood Grande in Jumeirah Village Circle was handed over ahead of schedule in December 2024. The developer also lists Westwood Grande II and Pearl House in Jumeirah Village Circle and Hyde Walk in Jumeirah Garden City among its completed projects. Each has its own DLD record; the registered developer of Cove Edition 6 is IMTIAZ COVE REAL ESTATE DEVELOPMENT L.L.C.