Request to Activate an Escrow Account
Description

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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