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Riyad Bank, through its Real Estate Escrow Account (REEA), acts as an Escrow agent and protects the interest of buyers and sellers of real estate projects.
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Our team will be glad to serve you from 9am till 4:30pm, Sunday through Thursday.
Real Estate Escrow Account is a bank account designated for property development, in which all payments by buyers for the construction of the off-plan project are credited into this account.
An Escrow Account provides security to both the Developer and the Buyer, because unless all the conditions are met on the “sale” the funds are not released to the Developer, whereas the Developer receives payments to cater for the needs of the project to keep it going.
To apply please email our sales team on Tssemail@example.com or call:
One-time set-up fee and a monthly maintenance fees are charged in addition to a transactional fee which is added on.