Escrow, Oqood and the off-plan paper trail
Buyer payments for registered off-plan projects in Dubai are meant to go into the project's escrow account, and the sale is recorded through the interim registration system known as Oqood. Keep every document and pay only into the account named in your contract.
- The escrow account: Dubai's regulations require developers of registered off-plan projects to hold buyer payments in a project-specific escrow account, from which funds are released against construction progress.
- Oqood: the interim registration: Off-plan sale contracts are recorded through an interim register at the Dubai Land Department, commonly called Oqood.
- The sale and purchase agreement: The agreement sets out the payment schedule, the handover window, what happens on delay and what you may and may not do before handover.
- What to keep: Keep the signed agreement, every payment receipt, the escrow account details, the registration certificate and every written exchange with the developer.
The escrow account
Dubai's regulations require developers of registered off-plan projects to hold buyer payments in a project-specific escrow account, from which funds are released against construction progress. For you, that means the account details in your contract matter: pay only into the named escrow account, never to a personal or general company account.
Oqood: the interim registration
Off-plan sale contracts are recorded through an interim register at the Dubai Land Department, commonly called Oqood. It links you, the unit and the project. Ask your adviser to explain what was registered, when, and how to obtain the registration certificate.
The sale and purchase agreement
The agreement sets out the payment schedule, the handover window, what happens on delay and what you may and may not do before handover. Read the clauses on delay, cancellation and assignment before you sign, and ask for plain-language explanations of anything unclear.
What to keep
Keep the signed agreement, every payment receipt, the escrow account details, the registration certificate and every written exchange with the developer. If you buy from abroad, scan them into one folder so a family member or lawyer can find them quickly.
Where to confirm
Rules and procedures change, and individual projects differ. Confirm the current requirements with the Dubai Land Department and the Real Estate Regulatory Agency, or with a licensed adviser, rather than relying on this summary.
Frequently Asked Questions
What is the single most important takeaway from "Escrow, Oqood and the off-plan paper trail"?
Buyer payments for registered off-plan projects in Dubai are meant to go into the project's escrow account, and the sale is recorded through the interim registration system known as Oqood. Keep every document and pay only into the account named in your contract.
Where can I independently verify Dubai project registration, escrow, or transaction records?
Always verify project registration numbers, escrow bank accounts, and historical transaction data directly through the official Dubai Land Department (DLD) portal or the Dubai REST application.
Does SWK Properties provide a written checklist or side-by-side worksheet for this topic?
Yes. Request a tailored consultation from our Sheikh Zayed Road advisory desk (RERA ORN 51517) and your assigned consultant will prepare a written side-by-side comparison in AED and your preferred reference currency.
