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Receiving payment from project completion account request

Description

This service allows real estate developers to apply for receiving
payments from the project completion accounts of their real estate
projects sold off-plan in freehold areas.

The service is provided by the Real Estate Trust Account  Section at the Real Estate Trust Account Development  Department.

Required Documents

1-The developer must provide an undertaking that he will continue
to develop the project and will not cease operations regardless of
received payments, and cover any other financial claims such as payments due to the project consultant

 

Terms of Service  Required Documents:-

1- Restricting the spending on projects whose percentage of
completion exceeds 80% (pursuant to a technical report issued by
Dubai Land Department)

2-  Restricting the disbursement on construction payments and infrastructure only

Service Procedures

The Client shall access the Oqood Portal and choose Trust Account System and apply for Request for

Service Fee
None
Service Branches
Oqood Portal- Real Estate Developers Portal
Related Services
Additional Information
Last updated 10/02/2019 15:18:32
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