Скачать или смотреть Invest Smart in Dubai: How to Check a Developer’s Escrow Account Before Booking a Unit

When investing in Dubai real estate, verifying the developer’s escrow account is a critical step to protect your investment. The escrow account, regulated by the Dubai Land Department (DLD), ensures that funds paid by buyers are used solely for the construction of the property, minimizing the risk of fraud or mismanagement.

🔍 Why is it important?
In Dubai, developers are required by law to open an escrow account for each project. Your payments go directly into this account and can only be withdrawn by the developer based on construction progress, as monitored by DLD. This protects both investors and homebuyers from financial loss if something goes wrong with the project.

✅ Steps to check the escrow account:

1. Verify with DLD: Use the Dubai Rest app or visit the Dubai Land Department's website. Here, you can check whether the developer and project are registered and if an escrow account is in place.

2. Request Escrow Account Details: Ask the developer for their escrow account number and details. Ensure these match the information you receive from DLD.

3. Check Compliance: Make sure the escrow account is linked to the specific project you're investing in and that the developer is compliant with all DLD regulations.

4. Understand Your Rights: Familiarize yourself with Dubai's real estate laws regarding escrow accounts. If the developer doesn't have an escrow account, it’s a red flag – reconsider the deal.

By taking these steps, you safeguard your investment and ensure that your funds are used appropriately during the construction process. Protect your future, and always check the escrow account before booking! For more such insightful inside real estate tips, contact us first ➡️🔜

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