Sunset Bay 5 Escrow Account

First Abu Dhabi Bank P.J.S.C. holds the escrow account for Sunset Bay 5 by Imtiaz, account number 1011*****3396004 (shown in full in the Escrow Details section above). The account is tied to DLD project number 3811, registered with the Dubai Land Department on 4 July 2025.

In the Dubai REST app, the Project Status service lists Sunset Bay 5 as project number 3811, with the status Active, under the name "Sunset Bay Five By Imtiaz" in the register. Its Escrow panel shows the bank as First Abu Dhabi Bank P.J.S.C. together with the account number, and the registered developer is IMTIAZ UG REAL ESTATE DEVELOPMENT L.L.C, DLD developer number 2212. A match on all of these details confirms the account is the registered one.

The latest Dubai Land Department register reading for Sunset Bay 5 is 44.53%, dated 5 October 2026, with an earlier 32.62% reading that carries no date in the register. The RERA progress report of that day lists enabling, piling and foundation works as done, puts the structure works at an advanced stage, and shows MEP, internal works, external envelope and internal finishes in progress. Releases from escrow to the developer follow progress recorded in this way. Reading-by-reading detail is tracked on the Sunset Bay 5 construction updates page.

Sunset Bay 5 uses a 60/40 plan with fixed dates: 20% on booking, 5% on 15 December 2025, 5% on 15 March 2026, 10% on 15 June 2026, 10% on 15 October 2026, 10% on 15 May 2027 and 40% on completion (Q4 2027). Every instalment is paid into the escrow account, and funds are released to the developer against construction progress recorded by DLD inspections rather than on the payment dates. By the register reading of 5 October 2026 the instalments called came to 40% of the price, set against 44.53% recorded progress, and the total due reached 50% by mid October 2026.

No. The 4% DLD registration fee for Sunset Bay 5 is paid at booking alongside the 20% booking instalment, but it goes to the Dubai Land Department as a registration charge and is not held in the escrow account. The escrow account receives the purchase price instalments.

No. Off-plan payments for Sunset Bay 5 belong in the DLD-registered escrow account 1011*****3396004 at First Abu Dhabi Bank (the full number is in the Escrow Details section above), 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 direct, matches the usual pattern of payment fraud however genuine the documents appear. Money sent to any other account sits outside escrow protection, and a changed payment instruction can be checked against the Dubai REST record and the Sales and Purchase Agreement ahead of a transfer.

The final 40% of the Sunset Bay 5 price is due on completion; handover is scheduled for Q4 2027, and this payment goes into the same escrow account as the earlier instalments under the terms of the Sales and Purchase Agreement. Under the escrow framework, a retention amount stays in the account after completion to cover defect repairs.

Yes, the escrow protection continues if handover moves. Funds paid toward Sunset Bay 5 stay in the escrow account and are released only against recorded construction progress, whatever the calendar says. Escrow protects capital while the building is completed; it does not compensate buyers for delay, and any delay terms sit in the Sales and Purchase Agreement.

RERA takes control of the escrow account if a project is cancelled. For Sunset Bay 5, refunds to buyers would then be handled from the funds held in the First Abu Dhabi Bank escrow account, supervised by the Dubai Land Department. Payments made into any other account fall outside that protection, which is why the registered account matters. The wider regulatory framework is explained in the Dubai Land Department guide.

The Sunset Bay 5 escrow account protects payments toward the purchase price while the building is under construction. It does not hold the 4% DLD registration fee, it does not cover money sent to any account other than the registered one, it does not compensate for delays (those terms sit in the Sales and Purchase Agreement), and it does not guarantee a handover date, a resale price or a rental return.

Imtiaz has announced completed projects including Beach Walk Residence on Dubai Islands, which it reports made it the first developer to complete and hand over a residential project on the islands (80 residences), and Westwood Grande in Jumeirah Village Circle, reported in December 2024 as handed over ahead of schedule. 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 are Imtiaz group announcements; Sunset Bay 5 itself is registered under the developer entity recorded on Dubai REST.