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Escrow Management Services
Bank of Sharjah is certified as an Account Trustee for approved property developers pursuant to the escrow account law No. 8 issued by the Dubai Land Department in 2007.
Our Escrow Management Services will assist real estate developers manage their projects finances in harmony with the regulations imposed by the Dubai Land Department.
It also instils transparency and confidence in the real estate investors.
Documents required
- Land department approval
- Escrow account agreement
- Memorandum and Articles of Association
- Municipality License, Chamber of Commerce & Register of Commerce
- Land title deed in the name of the Developer
- Plot sale contract
- Board Resolution, Power of Attorney, Partnership Agreement
- Passport copy (ies) of authorized signatory (ies)
- Cash flow projection of the project
The Bank reserves the right to request for any additional documents in line with its Policies and Procedures from time to time