Sunset Bay 3 Escrow Account

First Abu Dhabi Bank P.J.S.C. holds the escrow account for Sunset Bay 3, account number 1031*****3829005 (revealed in full in the Escrow Details section at the top of this page), registered against DLD project number 3604. The same bank is named as the trust account bank on the RERA progress report dated 17 September 2026.

Each instalment falls due on a fixed calendar date, but the money is paid into the escrow account first and reaches the developer only as Dubai Land Department inspections verify progress on site. At the reading of 17 September 2026, instalments adding up to half of the price (50%) were due, compared with 60.04% progress on the project register. The next 10% instalment falls on 15 October 2026, and 40% remains payable on completion.

No. The 4% DLD registration fee is paid at booking alongside the 20% first payment, but it goes to the Dubai Land Department as a government registration fee and is not held in the project escrow account. Only the instalments of the purchase price are paid into escrow.

The 40% completion payment, due on completion of the building in the expected Q1 2027 window, is paid into the same escrow account as every earlier instalment, not to the developer directly. Under the escrow framework, part of the project funds is also held back after completion as a retention against defects, so the final stage of the account stays tied to the condition of the finished building.

Escrow releases to the developer follow construction progress verified by Dubai Land Department inspections. The project register showed 60.04% at the inspection of 17 September 2026, up from a previous reading of 38.26% for which no date is shown, and the RERA progress report of the same day lists structure works as complete while MEP, internal works, internal finishes, the external envelope and external works continue. Each reading is tracked on the Sunset Bay 3 construction updates page.

Yes. Buyer money remains in the escrow account, and the developer can draw on it only as progress is verified on site, however long the build takes. Escrow protects capital while the building is completed; it does not compensate for delay, and any delay terms sit in the Sales and Purchase Agreement. After completion, a retention held back from the project funds supports defect repairs, and the handover inspection that relies on it is covered in the Sunset Bay 3 snagging inspection guide.

No. Each off-plan payment toward Sunset Bay 3 belongs in the DLD-registered escrow account 1031*****3829005 at First Abu Dhabi Bank (the complete number is available in the Escrow Details section above), as recorded in the Sales and Purchase Agreement. A request to pay a personal account, a broker's account or a different company account, particularly one offered with a discount for paying outside escrow, matches the usual pattern of payment-diversion fraud. Because other Imtiaz projects also hold escrow accounts at First Abu Dhabi Bank, the bank name alone does not confirm the account; the full number is checked against project 3604 in Dubai REST and against the Sales and Purchase Agreement.

RERA takes control of the escrow account if a project is cancelled by the Dubai Land Department, and refunds to buyers are then handled from the protected balance under DLD supervision. Money paid anywhere other than the registered account falls outside that mechanism. With 60.04% progress on the register and structure works recorded as complete, Sunset Bay 3 is well into its build, though the safeguard applies at every stage. The regulatory framework behind this protection is set out in the Dubai Land Department guide.

In the Dubai REST app, Services and then Project Status lead to the project record, which can be found by project number 3604 or by its register name, Sunset Bay Three By Imtiaz. The record lists the registered developer as Imtiaz Sunset Real Estate Development L.L.C (developer number 2157), and its Escrow panel shows First Abu Dhabi Bank P.J.S.C. and the full account number, the reference against which any payment instruction is compared.

According to the developer's own announcements, Imtiaz completed and handed over Beach Walk Residence, an 80-residence building it reported as the first residential project completed and handed over on Dubai Islands, and handed over Westwood Grande in Jumeirah Village Circle ahead of schedule, as reported in December 2024. Westwood Grande II and Pearl House in Jumeirah Village Circle and Hyde Walk in Jumeirah Garden City are also among its delivered buildings. Past deliveries do not guarantee the Q1 2027 handover of Sunset Bay 3.

The escrow account protects the purchase price instalments paid into it. It does not hold the 4% DLD registration fee, it does not protect money sent to any other account, and it does not pay compensation for delay, which is governed by the Sales and Purchase Agreement. It also does not replace a handover inspection: the defect retention gives buyers leverage, but identifying defects in the finished residence remains a separate step at handover.