Can I run UE4 on the iMac?

I’m thinking of buying an iMac for game development.
The specs are:
quad-core Intel Core i5 processor
8GB (two 4GB) of 1600MHz DDR3 memory
Intel Iris Pro Graphics
Can I run UE4 on the above specs?
Or can you recommend some other Desktop/Laptop, Windows/Mac which can run UE4 smoothly. I will be developing games for the mobile devices.

Yes, it’s possible:

installation guide

Here is the recommended hardware for developing with UE4

I would recommend having a good GPU, the one in the machine you are mentioning scores around 1600 on Passmark, For the price you are spending ~2000$ you can get a Desktop machine that will destroy the IMac in computing speed and GPU power. IMO, I wouldnt get an iMAC because your main reason is to develop in UE4/