An escrow account is a special bank account opened for a specific off-plan project. In Dubai, payments for off-plan property go into the project's escrow account, not directly to the developer.
How it protects you
- The account is held by an approved bank and regulated by RERA and the Dubai Land Department.
- Money is released to the developer in stages as construction progresses, confirmed by inspections.
- Funds can only be used for that project — not for the developer's other projects or costs.
What to check
- The escrow account number in your Sales & Purchase Agreement matches the project's registered account.
- You pay to the escrow account, never to a personal or unrelated account.
- The project is registered with RERA.
I check these details for every off-plan purchase, so my clients' money is protected from the first payment.