Real Estate Escrow Account

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.

Customized MIS of funds received and disbursed
Ability to receive funds through a bank transfer
Periodic reporting to MOCI
All corporate clients are eligible

To apply please email our sales team on Tss-cmsales@riyadbank.com or call:

Eastern region: +966-13-833-5733 Ext. 4505
Western region:+966-12-260-9092
Central region: +966-11-486-5978

One-time set-up fee and a monthly maintenance fees are charged in addition to a transactional fee which is added on.

Apply Online - Real estate escrow account

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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Keeping in mind that a current account is required to obtain any product or service from Riyad bank, if you do not have one yet, you can open an account from here

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Riyad Bank, Public Shareholding Company, Capital of S..R 30 Billion, Commercial Register (1010001054), P.O. Box 13519 Riyadh 6671, Tel. +966 11 4013030, National Address: King Abdullah Financial District (KAFD) Financial Boulevard - Al Aqeeq District - Building No. 3128 - Riyadh, Kingdom of Saudi Arabia. www.riyadbank.com, is licensed by the Council of Ministers Resolution (91) dated 23.11.1957, and regulated by Saudi Central Bank.

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