RERA partners with CBD to offer escrow services

Dubai: The Real Estate Regulatory Agency (Rera) at the Dubai Land Department said on Tuesday that it has signed a partnership agreement with Commercial Bank of Dubai (CBD).

The agreement focuses on offering escrow account management services to owners’ association (OA) communities in Dubai, Rera said in an emailed statement.

Through this agreement, CBD, under the supervision of Rera, will open escrow accounts for owners’ associations to help regulate relations and service agreements with property owners.