RERA Escrow Account

A RERA escrow account is a dedicated, regulator-supervised bank account into which all buyer payments for an off-plan project in Dubai must be deposited. The developer cannot freely withdraw the money; funds are released in stages tied to certified construction progress, under the escrow framework introduced by Dubai's escrow law for property developments. The system exists because of painful history: in earlier cycles, buyers' instalments were sometimes diverted to other projects or lost when developers failed. Today, before paying anything for an off-plan unit you should verify the project's escrow account number — developers are required to state it, and payments should be made to that account, never to a personal or general company account. You meet the escrow regime at every instalment payment, and it becomes critical if a project stalls or is cancelled, because remaining escrow funds are the primary pot from which buyers are repaid.