Can real estate projects be mortgaged?

The real estate projects can be mortgaged to obtain a loan from banks or legally approved finance companies, provided that the value of the mortgage is deposited in the project's escrow account to ensure that the deposited amounts are disposed of according to the law. The bank and the developer are committed to ensure that the purchasers fulfilled their contractual obligations towards the developer receive the ownership Certificates upon completion of the real estate project.

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