This service allows real estate developers to apply for profits withdraw of their projects from the escrow accounts of these projects.
The service is provided by the Real Estate Trust Account Section at the Real Estate Trust Account Development Department.
Attach written request to withdraw project profits
Terms of Service Required Documents:
1- Payment of any fees due to Dubai Land Department or RERA
2- Ensure that there is an amount equal to (5%) of the net collections in the project completion Escrow account. This amount is not released until one year from the date of the project completion 3- Completion of the project 100%
After one year of the project completion date, the amount available in the project completion Escrow account will be transferred to the developer after theCompletion of establishing of the owners' association for the project
Last updated 19/10/2019 03:08:31 PM
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