This service enables the real estate developer to apply for raising / lowering the cap of administrative, marketing and tax expenses for the real estate project.
1- The real estate developer must ensure and adhere to the financial risk criteria for the real estate project before submitting the application
2- The completion percentage should not be less than 50% (according to a technical report issued by Dubai Land Department)
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.
Dubai Land Department's website (Real Estate Developers Portal -Oqood)
Waiting time 26 working hours
Serving time 32 working hours