An escrow account is a crucial safety mechanism for off plan buyers in Dubai. The real estate laws mandate that developers must deposit investors money into a regulated third party escrow account rather than their own company accounts. These funds c…
An escrow account is a crucial safety mechanism for off plan buyers in Dubai. The real estate laws mandate that developers must deposit investors money into a regulated third party escrow account rather than their own company accounts. These funds can only be accessed for construction purposes of that specific project as verified by the project consultant. This protects the buyer's capital and ensures that the money is strictly used to build the development.
This is general information from the website library. Confirm current rules, fees and property details with the relevant authority before acting.
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