Investing Guide
What Should I Verify Before Wiring Money for a Dubai Property?
Confirm the developer, the escrow account, the payment instructions, the reservation terms, and that you're working with licensed professionals. Never wire funds until you've verified every detail directly with the developer, rather than relying only on emailed instructions, which are the most common target for fraud.
Confirm the account is the project’s RERA-registered escrow account and that the account name matches the developer and project exactly. On a compliant off-plan purchase your instalments go to escrow, not to the developer’s general trading account.
Verify the payment details directly with the developer through a channel you initiated, a number from their official website, not one supplied in the email. Fraudulent payment-detail changes sent from a compromised or lookalike email address are the single most common way international buyers lose money in any property market.
Check that everyone you are dealing with is licensed: the broker should hold a valid RERA registration, and you can confirm the project’s registration independently.
Read the reservation terms before the funds move, particularly whether the deposit is refundable and under what conditions. Once an international wire has left, recovering it is difficult, every check is far cheaper before the transfer than after.
GG’s perspective
I personally help clients confirm each step before funds are transferred.