In Dubai’s real estate market, escrow account trustees play a vital role in protecting buyers’ interests and ensuring financial transparency. These trustees are licenced entities regulated by the Dubai Land Department (DLD) to oversee the handling of funds for off-plan property transactions. In addition, the approved escrow account trustees in Dubai help build investor confidence. They also support a secure property market environment.
A LIST OF ESCROW ACCOUNT TRUSTEES IN DUBAI
Approved escrow account trustees in Dubai are essential pillars of the city’s real estate regulation framework. They manage the funds paid by property buyers for off-plan developments. The main role of these escrow regulations in Dubai is to ensure that developers use the collected payments solely for the construction of the specific project associated with the account.
This system helps protect buyers from potential fraud or misuse of funds, promoting transparency and accountability in the property sector. You can access the official list of approved escrow account trustees through the DLD website or the Dubai REST app.
Here’s a complete list of Dubai Land Department escrow trustees and their contact details.
Abu Dhabi Commercial Bank (ADCB)
- Phone: +971 2 621 0090
- Fax: +971 2 644 3384
- Website: http://www.adcb.com
Abu Dhabi Islamic Bank
- Phone: +971 2 610 0600
- Fax: +971 2 665 4340
- Website: http://www.adib.ae
Ajman Bank
- Phone: +971 4 707 6773
- Fax: +971 4 707 6800
- Website: http://www.ajmanbank.ae
Al Masraf
- Phone: +971 4 2212100
- Fax: +971 4 223 4311
- Website: http://www.arbift.com
Bank of Baroda
- Phone: +971 4 353 8093
- Fax: +971 4 353 0839
- Website: https://www.bankofbarodauae.ae/
Bank of Sharjah
- Phone: +971 4 282 7278
- Fax: +971 4 282 7270
- Website: http://www.bankofsharjah.com
Commercial Bank International
- Phone: +971 4 260 8125
- Fax: +971 4 228 5279
- Website: http://www.cbiuae.com/
Commercial Bank of Dubai (CBD)
- Phone: +971 4 228 9000
- Fax: +971 4 221 8265
- Website: http://www.cbd.ae
Dubai Islamic Bank (DIB)
- Phone: +971 4 295 3000
- Fax: +971 4 295 4111
- Website: http://www.dib.ae
Emirates Islamic Bank (EIB)
- Phone: +971 4 316 0101
- Fax: +971 4 222 7321
- Website: http://www.emiratesislamicbank.ae
Emirates National Bank of Dubai
- Website: http://www.emiratesnbd.com
Mashreq Bank
- Phone: +971 4 424 4433
- Fax: +971 4 223 8830
- Website: http://www.mashreqbank.com
National Bank of Fujairah
- Phone: +971 4 397 1700
- Fax: +971 4 397 2910
- Website: http://www.nbf.ae/
Sharjah Islamic Bank
- Phone: +971 6 599 8888
- Website: http://www.sib.ae
United Bank Limited
- Phone: +971 4 226 7191
- Fax: +971 4 226 9209
- Website: https://www.ubldirect.com
First Abu Dhabi Bank
- Phone: +971 2 305 3145
- Fax: +971 4 340 7214
- Website: https://www.bankfab.com/v1/en-ae/ccib/global-transaction-banking
ARAB Bank
- Phone: +971 4 373 7493 | +971 4 373 7585
- Fax: +971 4 338 5330
- Website: https://www.arabbank.ae/
United Arab Bank
- Phone: +971 6 507 5222
- Fax: +971 6 507 5554
- Website: https://www.uab.ae
Arab African International Bank
- Phone: +971 4 373 6666
- Website: http://www.aaib.com/
Invest Bank PSC
- Phone: +971 6 598 0555
- Fax: +971 6 569 3807
- Website: http://www.investbank.ae/
National Bank of Ras Al Khaimah
- Phone: +971 4 2915165
- Fax: +971 4 3263640
- Website: https://www.rakbank.ae/
Aafaq Islamic Finance
- Phone: +971 4 330 6444
- Website: http://www.aafaq.ae/
Zand Bank
- Phone: +971 4 214 0578
- Website: https://www.zand.ae/en
Al Ahli Bank of Kuwait K.S.C.P (UAE)
- Phone: +971 4 607 5598
- Fax: +971 4 268 4445
- Website: https://abk.eahli.com/en/
Banque Misr
- Phone: +971 2 652 2722
- Website: https://www.banquemisr.ae/
FAQs
How do I find approved escrow account trustees in Dubai?
You can find approved escrow account trustees in Dubai via the DLD website or the Dubai Rest app.
What documents are needed to open an escrow account in Dubai?
To activate an escrow account in Dubai, a payment plan for the project is required.
How long does it take to set up an escrow account in Dubai?
It takes up to three days to activate an escrow account in Dubai real estate.
These were the details of the approved escrow account trustees in Dubai. These trustees help streamline the process of investing in new residential projects in Dubai, thereby enhancing the transparency of the real estate sector.
Besides, if you’re planning to settle in the city, check out these properties for sale in Dubai that offer a bunch of listings under different budgets.
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