Commercial Bank launches Real Estate Escrow Account in partnership with AREDC

Commercial Bank has announced the launch of the Real Estate Escrow Account service in collaboration with the General Authority for Regulating the Real Estate Sector (AREDC), becoming the first bank in Qatar to offer this service. The announcement was made during a press conference held by the Authority to mark the implementation of Law No. (6) of 2014 on regulating the real estate sector—considered a major milestone in developing this vital industry.

This cooperation between the banking and real estate sectors reflects a shared commitment to enhancing the investment environment in line with Qatar National Vision 2030.

Commenting on the occasion, H.E. Eng. Khalid bin Ahmed Al Obaidli, Chairman of AREDC, stated:

“The launch of the Real Estate Escrow Account stems from a fruitful partnership with the Qatar Central Bank. It requires developers to open a dedicated bank account for each project, ensuring that buyers’ funds are used solely for that project. This initiative aims to protect buyers’ rights and increase transparency and credibility in real estate transactions.”

Joseph Abraham, Group CEO of Commercial Bank, said:

“Signing the MoU with AREDC marks a key step in our continuous support of Qatar’s real estate sector. We congratulate AREDC on this pioneering achievement that will strengthen trust and provide greater protection for all stakeholders. This service aligns with our long-term strategy to offer innovative, secure, and efficient financial solutions that meet our clients’ evolving needs.”

Ali bin Abdullah Al Thani, Assistant General Manager and Head of Government and Public Sector at Commercial Bank, expressed his pride in the initiative:

“In line with our commitment to supporting national development, we are proud to be the first bank in Qatar to launch the Real Estate Escrow Account in cooperation with AREDC. This step reinforces transparency and trust, while paving the way for sustainable growth in the real estate sector.”

Commercial Bank reiterated its ongoing commitment to supporting the country's economic diversification and sustainable development objectives through its strategic vision.