Luxor Escrow Account

United Bank Limited (Management Office) holds the escrow account for Luxor by Imtiaz, account number 2009***** (available in full via Show in the Escrow Details section above). The account is tied to DLD project number 2770, which entered the Dubai Land Department register on 20-10-2023.

The Dubai REST app lists the project under Services, Project Status, as number 2770 with the register name "Luxur Tower By Imtiaz", spelled with a u. Its Escrow panel shows the bank, United Bank Limited (Management Office), and the account number, and both should match the Escrow Details section of this page and the Sales and Purchase Agreement. The lookup takes about two minutes.

Luxor by Imtiaz sells on a 60/40 plan: 20% on booking, then five dated instalments of 10% on 15 December 2023, 10% on 15 June 2024, 10% on 15 December 2024, 5% on 15 June 2025 and 5% on 15 December 2025, with the remaining 40% on completion, expected in Q4 2026. Each payment lands in the escrow account first, and funds reach the developer only against construction progress recorded by DLD inspections. By the 17 September 2026 reading of 90.02%, the booking payment and all five dated instalments, 60% of the price, had fallen due.

The Dubai Land Department register recorded 90.02% for project 2770 on 17 September 2026, after a previous reading of 80.04% that the register shows without a date. The RERA report from the same inspection lists enabling, foundation, substructure and superstructure works as completed, with internal works, the external envelope, MEP, external works and internal finishes progressing. Because releases follow recorded progress, the construction-linked funds still held in escrow relate broadly to that outstanding work, while the 40% completion payment is made at handover. Each new reading is tracked on the Luxor by Imtiaz construction updates page.

No. The 4% DLD registration fee is paid to the Dubai Land Department at booking, alongside the 20% booking payment, and is not held in the Luxor by Imtiaz escrow account. The escrow account receives the purchase price instalments only.

No. All off-plan payments for Luxor by Imtiaz, the 40% completion payment included, belong in the DLD-registered escrow account 2009***** at United Bank Limited (the complete number appears in the Escrow Details section above), as recorded in the Sales and Purchase Agreement. Instructions to pay into a personal account, an agent's account or any company account other than the escrow, and above all offers of a discount for paying directly, fit the usual pattern of payment-diversion fraud however official the documents look. The registered account on Dubai REST and the SPA details are the two references such a request is checked against before money moves.

The protection does not depend on the calendar. Money already paid stays in the escrow account and is released only against progress recorded on the DLD register, whether the building completes by the registered completion date of 15-12-2026 or at a different point. Escrow protects capital; it does not compensate for delay, and any delay terms sit in the Sales and Purchase Agreement. After completion part of the money is retained in escrow as a reserve for defect repairs, and the independent check that uses that window is covered in the Luxor by Imtiaz snagging inspection guide.

When a registered project is cancelled by the Dubai Land Department, RERA takes control of the escrow account, from which buyer refunds are paid under DLD supervision. Only money paid into the registered account sits inside that protection. With the register at 90.02% on 17 September 2026, Luxor by Imtiaz is at a late stage of construction, yet the mechanism applies regardless of progress. The wider regulatory framework is set out in the Dubai Land Department guide.

The DLD register and the RERA report list the developer of project 2770 as IMTIAZ REAL ESTATE INVESTMENT & DEVELOPMENT L.L.C, developer number 1129. Luxor by Imtiaz is marketed under the Imtiaz Developments name, while the registered entity is the name that appears on the official record and in the escrow registration.

Imtiaz has announced completed projects including Beach Walk Residence on Dubai Islands, which it reported as the first residential project completed there, and Westwood Grande in Jumeirah Village Circle, reported as delivered 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 completed projects. These statuses come from developer announcements rather than from the DLD register.

The escrow account protects purchase payments made into it while Luxor by Imtiaz is built. It does not hold the 4% DLD registration fee, does not compensate for timing changes (those terms sit in the Sales and Purchase Agreement), gives no assurance on rental income or resale value, and offers no protection for money sent to any other account. The condition of the furnished apartment at handover is addressed through the handover inspection and the terms of the Sales and Purchase Agreement rather than by escrow itself.