Request to Activate an Escrow Account

This service allows the real estate developer to apply for activating the disbursement mechanism from the escrow account of the off-plan real estate project

Service Form

Not Applicable

Required Documents

Project's payment plan

Service Terms

The real estate developer must ensure and adhere to the financial risk criteria for the real estate project before submitting the application

Service Fees

Free Service

Service Procedures

Via the electronic system
Step 1: Register and create an account on Oqood portal (if the customer is not already registered) or enter Oqood portal and choose the escrow account link and choose the service
Step 2: The application is sent to the account trustee
Step 3: The account trustee studies the solvency, uploads the documents and sends them to the escrow account department
Step 4: The escrow account department checks for financial solvency with approval or rejection.

Payment Method

Not Applicable

Service Channels

Oqood Portal- Real Estate Developers Portal

Issued Documents

Not Applicable

Service Time

Waiting time 19 working hours
Serving time 13 working hours

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