Request for Bank Guarantee Cancellation

This service allows the developer to submit a request to cancel the bank guarantees provided after the availability of the financial solvency of the real estate projects


A copy of the bank guarantee

1- Project Status (Active - Completed)
2- The completion percentage of the project is 50%, according to a recent technical report issued by Dubai Land Department, and the absence of a red flag in the last stages of the project’s progress.
3- The amount available in the main escrow account covers the value of the remaining construction works.

Free Service

Via the electronic system
Step 1: Enter Oqood portal, choose the escrow account link, choose the service and submit the request
Step 2: The application is sent to the account trustee
Step 3: The account trustee studies the financial solvency, uploads the documents and sends them through TAS system
Step 4: The escrow account department checks for financial solvency with approval or rejection.
Step 5: In case of approval the request will be transferred to the account trustee to do the necessary work.


Dubai Land Department's website (Real Estate Developers Portal -Oqood) TAS System


Waiting time 26 working hours
Service delivery time 32 working hours