Dubai Launches First-Time Home Buyer Programme to Boost Homeownership

Introduction

In a landmark initiative aimed at transforming Dubai’s real estate landscape, the Dubai Land Department (DLD) and the Dubai Department of Economy and Tourism (DET) have introduced the First-Time Home Buyer Programme. Launched on 2 July at a press conference held at DLD, this initiative seeks to make homeownership more accessible and affordable for both Emiratis and expatriates. The programme aligns with the Dubai Real Estate Strategy 2033, which focuses on increasing homeownership rates and doubling the real estate sector’s contribution to Dubai’s GDP.

Key Features of the Programme

The First-Time Home Buyer Programme offers:

• Priority Access: Eligible buyers gain early access to new off-plan project launches.

• Preferential Pricing: Special pricing on properties up to AED 5 million.

• Tailored Mortgage Solutions: Participating banks, including Commercial Bank of Dubai, Dubai Islamic Bank, Emirates NBD, Emirates Islamic, and Mashreq Bank, provide customized mortgage products.

• Eligibility: Open to UAE residents aged 18 and above who do not currently own freehold residential property in Dubai.

Strategic Partners

The programme is supported by a robust collaboration between public and private sectors. Key real estate developers involved include:

• Azizi Developments

• Beyond Developments

• Binghatti Holding

• DAMAC Properties

• Danube Properties

• Dubai Properties

• Ellington Properties

• Emaar Properties

• Majid Al Futtaim Group

• Meraas

• Nakheel

• Palma Holding

• Wasl

These developers are committed to offering priority access to units and enhanced commercial terms to support first-time buyers.

Alignment with Dubai’s Vision

The initiative supports the Dubai Economic Agenda D33, which aims to double the size of Dubai’s economy, and the UAE’s Year of Community, promoting social cohesion and economic resilience. By lowering barriers to homeownership, the programme stimulates long-term demand, enhances market liquidity, and strengthens Dubai’s position as a global hub for living, working, and investing.

Leadership Statements

• His Excellency Helal Saeed Almarri, Director General of DET, emphasized:

“This initiative represents a powerful economic lever—stimulating long-term demand, driving liquidity into the real estate ecosystem, and accelerating the sector’s contribution to GDP in line with the Dubai Economic Agenda, D33. Dubai is offering a model of sustainable urban development—one that supports talent retention, fosters community cohesion, and enhances the city’s competitiveness.”

• His Excellency Omar Bu Shehab, Director General of DLD, stated:

“The First-Time Home Buyer programme embodies Dubai’s strategic vision for a more inclusive, transparent, and accessible real estate market. This initiative is a key driver of market resilience and positions Dubai as a global benchmark for sustainable urban development.”

How to Participate

Eligible individuals and agencies must register with the Dubai Land Department and submit property preferences. For more details, visit the official First-Time Home Buyer Programme website.

Source of information: Dubai Land and Property Department