A Dubai First-Time Home Buyer Programme has launched for UAE residents to make homeownership more accessible and affordable.
The milestone initiative is a joint venture between the Dubai Land Department (DLD) and the Dubai Department of Economy and Tourism (DET). It is intended for aspiring Emirati and expat homeowners.
The programme will offer participants priority access to new launches, preferential prices, and tailored mortgage solutions.
To be eligible to participate in the Dubai First-Time Home Buyer Programme, residents must:
- Be a resident of the UAE (any nationality)
- Be over 18 years old
- Are looking for a property under AED 5 million
- Must not currently own any freehold residential property in Dubai
Leading developers are already committed to the Dubai First-Time Home Buyer Programme, including Azizi Developments, Beyond Developments, Binghatti Holding, DAMAC Properties, Danube Properties, Dubai Properties, Ellington Properties, Emaar Properties, Majid Al Futtaim Group, Meraas, Nakheel, Palma Holding, and Wasl.
Participating UAE banks include: Commercial Bank of Dubai, Dubai Islamic Bank, Emirates NBD, Emirates Islamic Bank, and Mashreq Bank.
The programme will continue to onboard new partners after the launch to increase the choice for first-time home buyers.
Interested individuals and agencies must register eligible applicants with DLD and submit their property preferences through the Dubai First-Time Home Buyers website.
The landmark initiative aligns with the Dubai Economic Agenda, D33, the Dubai Real Estate Strategy 2033, and the UAE’s Year of Community.
In 2024, Dubai real estate transactions reached a record high with a total of 226,000, valued at AED 761 billion. The Dubai Economic Agenda D33 aims to double the size of Dubai’s economy by 2033.
