Sunset Bay 2 Escrow Account

First Abu Dhabi Bank P.J.S.C. holds the Sunset Bay 2 escrow account, number 1011*****8110046 (the full number is available in the Escrow Details section of this page). The account is linked to DLD project number 3570, which the Dubai Land Department registered on 28-02-2025.

The Dubai Land Department lists the project as "Sunset Bay Two By Imtiaz" under project number 3570. The registered developer is IMTIAZ REAL ESTATE INVESTMENT & DEVELOPMENT L.L.C, developer number 1129, and the register shows the project status as Active, with First Abu Dhabi Bank P.J.S.C. as the trust account bank.

Sunset Bay 2 runs a 60/40 schedule tied to calendar dates: 20% on booking, five dated instalments totalling 40% between 15 May 2025 and 15 September 2026, and 40% on completion. Each payment goes into the escrow account, and First Abu Dhabi Bank releases money to the developer only against progress recorded by DLD inspections. At the reading dated 4 August 2026, 50% of the price had fallen due against 70.2% registered progress; since 15 September 2026 the dated total has stood at 60%, leaving only the 40% completion payment.

No. The 4% DLD registration fee is paid at the booking step together with the 20% deposit, but it goes to the Dubai Land Department as the registration charge for the unit. It is not deposited into the escrow account and is not part of the funds released to the developer against construction progress.

The final 40% is due on completion, which the developer expects in Q1 2027; the DLD register lists 20-02-2027 as the registered completion date. It is paid into the project escrow account named in the Sales and Purchase Agreement, not to the developer directly, and a portion of the escrow balance is retained after completion to cover defect repairs.

The Dubai Land Department project register showed 70.2% progress for Sunset Bay 2 at the reading dated 4 August 2026, up from a previous reading of 43.2% for which no date is shown. Releases from the escrow account follow progress recorded in this way rather than the payment calendar. The RERA report from that inspection lists enabling, foundation and structural works as completed, with internal, external and MEP works progressing. Reading-by-reading detail is tracked on the Sunset Bay 2 construction updates page.

Yes. Funds already in the Sunset Bay 2 escrow account stay there and continue to be released only against recorded progress, whatever the calendar says. Escrow protects capital while the building is completed; it does not pay compensation for delay, and any delay terms sit in the Sales and Purchase Agreement. After completion, a retained portion of the escrow balance supports defect repairs, and how that retention pairs with an independent handover inspection is covered in the Sunset Bay 2 snagging inspection guide.

No. Sunset Bay 2 buyers pay each off-plan instalment into the DLD-registered escrow account 1011*****8110046 at First Abu Dhabi Bank (the full number is available in the Escrow Details section 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 it appears. Money sent that way sits outside escrow protection, which is why any such request is compared with the Escrow panel for project 3570 in Dubai REST before funds move.

RERA takes control of the escrow account if a project is cancelled, and refunds to Sunset Bay 2 buyers would be handled from the protected funds under the supervision of the Dubai Land Department. That protection reaches only money paid into the registered account; payments made anywhere else fall outside it. With 70.2% progress on the DLD register at the 4 August 2026 reading, Sunset Bay 2 is well into construction, but the cancellation mechanism applies at every stage. How the Dubai Land Department supervises escrow, cancellations and refunds across the market is covered in its Dubai Land Department guide.

The escrow account protects buyer capital paid into it and limits releases to recorded construction progress. It does not compensate for a later handover (delay terms sit in the Sales and Purchase Agreement), it does not hold the 4% DLD registration fee, and it offers no protection for money paid to any other account. It also does not replace a handover inspection of the furnished residence, and costs that begin after handover, such as service charges, fall outside it.

According to Imtiaz's own announcements, the developer completed and handed over Beach Walk Residence on Dubai Islands (80 residences), reported as the first residential handover on the islands, and handed over Westwood Grande in Jumeirah Village Circle ahead of schedule, reported in December 2024. Its delivered portfolio also includes Westwood Grande II and Pearl House in Jumeirah Village Circle and Hyde Walk in Jumeirah Garden City. These are developer-reported records, not entries in the Sunset Bay 2 register.