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Align your Escrow Trust Account with RERA

Ascent Promart
The Real Estate Property transactions in Dubai have become more transparent through its mandatory Real Estate Regulatory Agency (RERA) compliance regulations. The banks in the Middle East are in the process of streamlining their Escrow Trust Accounts in line with Dubai Land Department, as trustees for multiple stakeholders.

Ascent Escrow ProMart© is an end-to-end Project and Property Lifecycle Management solution, which is highly customizable and incorporates entire life cycle support for property based finance management with automatic transitioning to corresponding phases.

Our Escrow Management Software is built with business users in mind, designed by seasoned banking professionals in the Middle East, who understand different usage, scenarios and requirements at the ground level. The software maintains compliance with RERA mandates.

The property financing solution incorporates and manages different levels of stakeholders like Masters Stakeholders, Developers, Builders, Contractors, Buildings and End Unit Buyers.

It provides a comprehensive overview to manage all the set of stakeholders and cash flows like leasing, rentals & free-hold. It is also capable of maintaining all the end units and entities at a granular level.

Ascent Escrow ProMart© has three modules for complete property life cycle management as listed below:

  1. Escrow Management Module
  2. Property Management Module
  3. Property Financing Module

Escrow Management

Ascent Escrow Management System provides account level management of complete escrow accounts managed by banks with the following features:

  • Classified details management of all stakeholders like master developers, developers, projects, buildings and units
  • Graphical Project progress plan creation, monitoring and payment across stages
  • End-to-end cash flow management & statements of different escrow accounts

Property Management

Ascent Property Management offers a complete support system for management of various types of real estate properties. Some of the salient features include.

  • Listing and managing end-to-end details of real estate properties
  • Classified view of properties with all the subunits inheriting the root unit
  • Comprehensive cash flow management with support for
    1. Managing leases & monitoring incoming payments
    2. Managing sales reservations, bookings & instalments
    3. Managing expenses & all other cash outflows
    4. Hierarchical cash flow statements as per the different properties and units
  • Capital Assessment & Depreciation Management Features
  • Sales Management for property units like Managing Leads, Opportunities, Targets & Invoices
  • Asset Maintenance & Purchase Management
  • Integration Capability with Core Banking Systems
Ascent Promart

Property Financing Module

Ascent Property Financing System enables to design, create and manage different types financing arrangements with developers.

It monitors and manages all types of cash flows of the project financing activities of the bank.

It facilities with automatic or manual payment, ownership calculation and repayment management for any type of product.

It supports both conventional and Islamic banking products like Ijarah, Murabaha, Istisna & Musharakah. The module also provides complete interfaces to integrate the cash flows with core banking systems for banks.

Property Management in UAE

How Escrow Management Software can Stream Line Property Management Business in UAE? Escrow Management primarily focuses on the sound relationship between a Seller of a property and the buyer.