Escrow Account

Overview

Escrow Account (Off-Plan Sale) was designed to suit the needs of Real Estate Developers (RED) and provide many banking services, in compliance with the rules and regulations of (Wafi) the Off-Plan Sales or Rent Program.

The Client will be able to monitor and manage incoming and outgoing project’s payments throughout a cutting-edge dashboard and reporting tools, to reach full clarity of project’s financial position.

Features

Key Characteristics and Benefits

  • Automated Escrow Business Processes.
  • Substantial savings in time & money.
  • Digital solution to avoid manual process.
  • The solution adheres to all WAFI requirements.
  • Cutting-edge dashboard.
  • Reporting mechanism will grant the developers a clear overview of their projects.
  • Multiple Project schemes.


Escrow Account “Off-Plan Sale” within Al Rajhi Business:

  • Electronic upload for the documents.
  • Funds Request.
  • Create Real Estate Units.
  • Download Monthly & Quarterly Reports.
  • Download Bank Certificates.
  • Financial Inquiry.
  • Escrow Account Status.