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Location: City Walk and Nikki Beach
Project Value: Confidential
Purpose: Escrow release reports
Meraas is a holding company based in Dubai with portfolio and activity in real estate, tourism, hospitality, healthcare, technology, retail, F&B, leisure and entertainment. Meraas had recently developed high-quality properties in Dubai and required property observers to prepare Escrow Release Reports to allow funds to be released from escrow accounts.
Escrow Release Reports are required by RERA to ascertain the community is complete and in a suitable state to handover completely to the owners. If defects are identified, relevant funds may be retained by RERA to cover any defective works.
The inspection process was carried out with assistance from the on-site FM team with the aim of identifying the current building condition in order to expose significant defects and clarify items that should have been undertaken by the developer.
We then prepared and submitted our report to Meraas to allow them to review and evaluate any further work that was required.
Following liaising with the developer, we carried out a re-inspection once defects had been rectified to allow these items to be removed from the report.
RERA verified property observers acting impartially to prepare reports required for their developments.
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