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How your money is protected
Off plan payments in Dubai go into a project escrow account at an approved bank, ring fenced for that project and released to the developer only as work is certified. Sales are overseen by the Dubai Land Department and its regulator, RERA, which also licenses every developer, project and broker.
"Is my money safe?" is the first question almost every overseas investor asks me. Dubai tightened its rules after 2008, and the system that came out of it is stronger than most people expect.
How escrow works
Your stage payments go into an escrow account for that specific project, held at an approved bank. The developer is paid from it only as construction work is certified. A portion is held back for a year after completion to cover defects. RERA and the Land Department oversee every stage.
What RERA regulates
- Developers. Registered, must control the land, and every project is approved before sale.
- Projects. Build progress is monitored. You can check it on the Dubai REST app.
- Brokers. Licensed, with an exam and a RERA card for every agent.
- Charges and rents. Service charges are approved yearly. Rent rises follow an official index.
Five rules to stay safe
- Only pay into the escrow account named in your contract.
- Check the developer and project are RERA registered.
- Only deal with a RERA licensed broker.
- Make sure you hold your Oqood certificate.
- Be wary of guaranteed returns. Check who is giving the guarantee.
Your choice of developer is the biggest safeguard of all. That is where I start.
What if the developer is late, or fails?
Delays do happen, which is why I start with government backed and rated developers such as EmaarAldar. Your payments sit in escrow, and RERA has powers to step in, including returning escrow funds to buyers. You can compare the main names on my developers page.
How I can help
Send me your budget and what you want to achieve and I will come back with two or three featured projects that fit, each with a 5 year illustration of equity and rental income. You can see the kind of property I recommend in the featured projects, read the full picture in my free 26 page guide, send me your brief, or book a call with me.
Talk to me directly
Prefer to talk it through? Book a call with me.
Pick a time that suits you. We will go through your budget, your goals and what is available now. No cost and no obligation.
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