Tamweel, the leading real estate finance provider in the UAE brings you a new trust based service, the Escrow Management Services.

Escrow Management Services from Tamweel provides transparency while making your project cash flow management hassle free. Escrow Management processes are in accordance with the regulations of the Government of Dubai. In addition, Tamweel offers customised value added services and expert guidance to enhance fund management.

Services Offered

• Guidance for successful completion of Land Department processes
• Account opening and balance management services
• Comprehensive MIS on account receivables and payables
• Timely payment to consultants, suppliers, contractors, developers, and land owners as per Land Department approval
• Inspection services and technical supervision
• Add-on services
• Outsource management of your receivables through our collection management services
• Register buyer units
• Audit project cash flow
• Adhoc MIS reports & statements (per request)

Key Benefits

• Transparent and convenient pricing structure
• Competitive profit rates
• Comprehensive reporting, MIS and immediate access to account information
• Experienced team with a proven track record in Escrow Management Services
• Developers serviced by Relationship Managers who offer a single touch point for all services under Escrow Management Services
• Adherence to Sharia principles
• Online Access to Escrow accounts

Documents Required

For account opening only the following document are required

• Land Department Approval (RERA Developer registration approval + RERA project approval)
• Escrow Account Agreement
• Certificate of Incorporation, Trade License and/or Commercial Registration
• Memorandum & Articles of Association of the Developer
• Escrow Application Form
• Certificate of incumbency for authorized signatories of the developer.

To be collected on a later stage

• Land Title Deed in the name of the Developer
• Plot Sale Agreement
• Contract between Developer and Consultant and specimen of signature of authorised signatory of the Consultant
• Contract between Developer and Contractor and specimen of signature of authorised signatory of the Contractor
• Cash Flow Projection for the Development Project
• Up-to-date list of all Third Party Purchasers including the Purchase Price, Schedule of Payments, Payments Received by Company and Balance Due from each Third Party Purchaser
• Insurance Policy for the Development Project