Wynwood Escrow Account

Ajman Bank P.J.S.C. holds the escrow account for Wynwood by Imtiaz, account number 0111*****010 (shown in full in the Escrow Details section above). The account is recorded against DLD project number 3784, which was registered with the Dubai Land Department on 1 July 2025.

Buyer payments are held in the DLD-registered escrow account and released to the developer in stages against construction progress verified through Dubai Land Department inspections, not on the instalment due dates. Because the account is supervised by the Dubai Land Department, money paid ahead of construction stays in escrow until the matching progress is on record.

At the DLD register reading of 16% dated 9 July 2026, 40% of the price had been called: the 20% booking payment plus the 10% instalments of 15 February and 15 May 2026. The 15 August 2026 instalment brought the called share to 50%, and the next 5% falls due on 15 November 2026. This is arithmetic, not a risk assessment: called instalments sit in the escrow account and are released against recorded progress. Each new register reading is tracked on the Wynwood 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 does not enter the Wynwood escrow account. It is a government registration charge, so escrow protection applies to the purchase price payments only.

No. Every off-plan payment for Wynwood by Imtiaz goes into the DLD-registered escrow account 0111*****010 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 a personal account, an agent's account or a different company account, particularly one that offers a discount for paying outside escrow, matches the standard pattern of payment fraud however official the documents appear. Such a request is checked against the escrow record in Dubai REST and the Sales and Purchase Agreement before any money moves.

Yes, the protection continues. Payments stay in the escrow account and are released only against recorded construction progress, whatever the calendar says, so a handover later than the expected Q3 2027 does not move buyer funds outside DLD supervision. Escrow protects capital; it does not compensate for delay, and any delay terms sit in the Sales and Purchase Agreement.

If the Dubai Land Department cancels a registered project, RERA takes control of the escrow account and buyer refunds are handled from the protected funds under DLD supervision. That protection reaches only money paid into the registered account; payments sent anywhere else fall outside it. The wider regulatory framework is covered in the Dubai Land Department guide.

The escrow account protects purchase payments made into it while the building is under construction. It does not cover the 4% DLD registration fee, money paid to any other account, compensation for a late handover, or the outcome of a buyer's own decision to leave the purchase; delay and termination terms sit in the Sales and Purchase Agreement. It also gives no guarantee of a resale price or a rental return.

The Dubai Land Department register lists IMTIAZ GI REAL ESTATE DEVELOPMENT L.L.C, developer number 2323, as the developer of project 3784, recorded under the name Wynwood Residences By Imtiaz. The project is marketed by Imtiaz Developments as Wynwood by Imtiaz, and the register name is the one that appears when the project is searched in Dubai REST.

According to the developer's announcements, Imtiaz completed and handed over Beach Walk Residence on Dubai Islands, an 80-residence building it reported as the first residential handover on the islands. Its handed-over projects in Dubai also include 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. Past deliveries do not guarantee the Q3 2027 handover for Wynwood.

The account is visible in the Dubai REST app under Services, Project Status: a search for project number 3784 opens the register entry, and its Escrow panel shows the bank name and account number. A genuine payment instruction carries the same details as that panel and as the escrow clause in the Sales and Purchase Agreement, and where they differ the Dubai REST record is the reference.