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.
Not Applicable
Not Applicable
1- The status of the project should be active.
2- The real estate developer must ensure and comply with the standards of the financial risks of the real estate project before submitting the application.
3- The completion percentage should not be less than 50% (according to a technical report issued by Dubai Land Department)
4- A recent technical report issued by Dubai Land Department (not exceeding 4 months) and the absence of a red flag in the last stages of the project progress.
5- The developer’s undertaking to continue developing the project and not to stop regardless of the collections, and this is done within a clear time frame approved by the project consultant.
6- The approval is valid for 3 months.
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 system is updated
Not Applicable
Dubai Land Department's website (Real Estate Developers Portal -Oqood) TAS System
Not Applicable
Waiting time 26 working hours
Serving time 32 working hours