Real estate developers in the UAE are legally required to open Escrow Accounts for off-plan projects. Banks that serve developers also provide construction finance, project accounts, and bridging loans.
In this guide:
UAE Escrow Account Requirement
Under UAE Law No. 8 of 2007 (Dubai) and equivalent federal regulations, all off-plan property developers must hold buyer deposits in a RERA-registered Escrow Account at an approved UAE bank. Funds can only be released at verified construction milestones.
RERA-Approved Escrow Banks in Dubai
- Emirates NBD
- First Abu Dhabi Bank (FAB)
- Abu Dhabi Commercial Bank (ADCB)
- Dubai Islamic Bank (DIB)
- Mashreq Bank
- RAKBANK
Construction Finance for Developers
UAE banks provide construction loans covering 50–70% of total project cost, secured against the land and future receivables. Drawdowns are made against certified construction milestones. Interest rates are typically EIBOR + 2.5–4.5%. Project timelines of 18–48 months are standard.
Documents Required
- RERA developer registration
- Land title deed
- Master Community Declaration (if applicable)
- Approved building plans
- Sales and marketing plan
- Company financials (2–3 years)