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Ras Al Khaimah sets up escrow
- United Arab Emirates: Monday, July 14 - 2008 at 08:55
In a decree issued on 3 July, the Ras Al Khaimah government has made escrow account of real estate developments mandatory, Gulf News has reported. The guarantee accounts aim to help regulate the emirate's booming property sector. Developers who wish to sell off-plan units in real estate development projects must apply to the Ras Al Khaimah Investment Authority.
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Medilyn Manibo, Assistant News EditorMonday, July 14 - 2008 at 08:55 UAE local time (GMT+4)
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