DLD completes 1,508 disbursement processes in 5 weeks via escrow accounts – ZAWYA

DLD completes 1,508 disbursement processes in 5 weeks via escrow accounts – ZAWYA

DLD completes 1,508 disbursement processes in 5 weeks via escrow accounts. It added that business in the escrow account during the past five weeks continued electronically and 126 real estate developers benefited from RERA's services, helping these companies continue construction on off-plan sales projects, with 1,508 disbursement procedures that having been implemented for 342 companies as well as disbursement procedures for doing business accounts in off-plan real estate projects under development.. Khalifa Alsalfa, senior director of the Escrow Account Department at DLD, commented, "The process of following up on the off-plan real estate development process is completely electronic, which helps us serve all real estate developers and approve the disbursement of their payments through the electronic escrow account application.. Customers can submit requests for credits and disbursement through the electronic escrow account application account linked with the managers of the project development's escrow account.".