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This service allows banks and Financial Institutions to apply to deregistration of approved Account Trustees and Auditing company at the Real Estate Regulatory Agency.

None

Account Trustee
1- Undertaking to provide the RERA with any required information after deregistration
2- Undertaking to abide by the terms of the Account Trustee's agreement with the RERA regarding cancellation
3- Undertaking to transfer all belongings of the projects escrow accounts to the Trustee of the account to which the transfer is being made within (30) business days
4- Undertaking to immediately transfer the deposits collected after the account transfer process to the escrow account at the new Account Trustee
5- Undertaking to keep the project escrow account open for a period of not less than 3 months and not more than a year

Auditing company
1- Completion and delivery of all remaining financial reports for the RERA through the escrow account system
2- Undertaking to abide by the terms of the auditing firm's agreement with the RERA regarding deregistration
3- Undertaking to provide the RERA with any information it requires after deregistration

Account Trustee
Notifying the developers of the need to transfer the projects' escrow accounts to another Account Trustee approved by the Department within one month of their date.
Auditing company
None

Free service

Step I: Submitting an application through the Land Department’s website (Real Estate Developers Portal - Oqood), escrow account system, or via e-mail
Step II: The RERA will study and audit the application
Step III: Issuing a cancellation e-certificate and sending the same via e-mail
Step IV: Updating systems by cancellation