KM Properties and NBD sign escrow account

DUBAI — The real estate arm of KM Holding, KM Properties, has signed an escrow account with National Bank of Dubai (NBD) as part of its adherence to government regulations and to protect its present and future property owners and investors.

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By Jose Franco

Published: Thu 18 Oct 2007, 8:53 AM

Last updated: Sat 4 Apr 2015, 11:27 PM

The company earlier registered with the Dubai Land Department, making it one of the first private developers to embrace Law 8, which assures property buyers' confidence through a guarantee called escrow account. Sanjeer Joher, group chief operating officer at KM Holding, said that with its Dubai properties worth at least Dh1.3 billion, the company is looking to expand to Riyadh and Jeddah, in Saudi Arabia, and to the Indian cities of New Delhi and Bangalore.

Jose Franco

Published: Thu 18 Oct 2007, 8:53 AM

Last updated: Sat 4 Apr 2015, 11:27 PM

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