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. 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.
Official sources
This article is general information, not financial, legal or investment advice. Market conditions and regulations change — speak to a consultant before you decide.
