Reserve fund study
Helping Our clients to achieve their visions
Property development is one of the major pillars in the UAE economy. The growth in this sector is associated with the protection of buyer rights. Abu Dhabi has issued Law No. 3 of 2015 on the Regulation of Real Estate Sector to make this sector more regulated and transparent. For new projects the developer that is intending the sale of real estate units as off plan shall submit an application to the DPM for the opening of the project escrow account in which all amounts paid by the buyers of the real estate units or any other amounts shall be deposited.
MERALI’S currently registered with DPM to carry out Escrow Audit services for companies registered within DPM Legalizations and Regulations.
We provide following services for escrow account:
1. Annual escrow audits
2. Profit withdrawal of :
- Under construction projects
- Completed projects
3. Retention withdrawal
4. Refund for discontinued escrow projects
5. Bank escrow system review.