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Abu Dhabi / WAM
Aldar Properties signed its first ESCROW Agreement with Abu Dhabi Commercial Bank, the first registered ESCROW bank in Abu Dhabi.
This agreement will enable Aldar Properties to have ESCROW accounts for the recently announced Yas Acres, a golf and waterfront development comprising 1315 villas and townhouses, on Yas Island.
Aldar Properties was the first company to be granted a Master Developer Licence under the Abu Dhabi Real Estate Law.
Talal Al Dhiyebi, Chief Development Officer at Aldar and Colin Fraser, Group Head of Wholesale Banking at Abu Dhabi Commercial Bank expressed the importance of the agreement during its signing at Cityscape.