RAK buyers demand escrow
Ras Al Khaimah buyers are increasingly insisting on escrow‑backed transactions — BNW founder Ankur Agarwal says UAE investors 'check escrow' the way some cultures check kundalis, signaling a shift toward more transparent, escrow‑first deals in RAK video interview.
Emirates NBD signed) an agreement with Ras Al Khaimah Municipality on Jan. 10, 2024 to operate as an account trustee and offer escrow services in the emirate. The bank's role as an accredited account trustee is explicitly to manage off‑plan customer funds and ring‑fence payments so developers can only draw on proceeds for construction, according to industry coverage. gccbusinessnews.com BNW Developments’ public filings and profiles put its UAE portfolio north of Dhs22 billion, and the company reported selling 97 units of the Taj Wellington Mews launch on Al Marjan Island within 24 hours. gulfbusiness.com BNW has publicly outlined a pipeline of roughly eight to ten forthcoming projects across Ras Al Khaimah and Dubai as part of its next‑phase expansion, with several projects tied to Al Marjan Island and RAK Central. cbnme.com Legal and advisory notes from UAE law firms describe escrow accounts as a regulated mechanism to protect off‑plan buyers and ensure funds are used for construction, with guidance drawn from UAE and free‑zone frameworks. charterlegal.ae Ankur Aggarwal has been reiterating BNW’s RAK strategy in recent interviews and conference appearances, including a virtual session at the India Today Conclave 2026 and multiple feature profiles that outline the developer’s focus on branded luxury and coastal projects. youtube.com
