Dubai: New scheme offers priority and discounts for first-time home buyers of all nationalities
Developers and banks unite under groundbreaking housing affordability initiative
DUBAI: In a game-changing move for Dubai’s property sector, the Dubai Land Department (DLD) and the Dubai Department of Economy and Tourism (DET) have launched the First-Time Home Buyer Programme, a strategic initiative designed to enhance accessibility and affordability for first-time property buyers across the emirate.
Officially launched on 2 July at a press conference held at DLD headquarters, the programme was introduced by senior officials from both departments, including Majid Al Marri, CEO of Real Estate Registration Sector at DLD, and Hadi Badri, CEO of the Dubai Economic Development Corporation (DEDC), the economic development arm of DET.
Representatives from leading banks and real estate developers also attended the event, marking a unified public-private front in addressing housing accessibility.
First-Time Home Buyer Programme
The initiative is aligned with Dubai’s wider ambitions under the Dubai Economic Agenda D33 and the Dubai Real Estate Strategy 2033. These frameworks aim to double the city’s GDP and increase the real estate sector’s contribution to the economy by enhancing homeownership rates.
A hallmark of the programme is the collaboration between government entities and private-sector giants. Major developers including Emaar, DAMAC, Nakheel, Danube, Meraas, Azizi, Ellington, Dubai Properties, and others have joined the programme. They are offering eligible first-time buyers priority access to new off-plan launches and preferential unit pricing, particularly for properties valued up to Dh5 million.
Participating financial institutions – Commercial Bank of Dubai, Dubai Islamic Bank, Emirates NBD, Emirates Islamic, and Mashreq – are also providing tailored mortgage products specifically created for this initiative. These solutions are expected to simplify the home buying process, lower financial barriers, and support long-term residential investment in the city.
Inclusive eligibility
The programme is open to UAE residents of all nationalities, aged 18 and above, who do not currently own a freehold residential property in Dubai. This inclusivity is aimed at boosting long-term population stability and economic resilience, key focus areas in the government’s community and growth agendas.
The initiative is a reflection of Dubai’s commitment to inclusive and sustainable urban development. It seeks to strengthen community cohesion by helping residents plant roots through property ownership while simultaneously increasing investor confidence and liquidity in the market.
Real estate gamechanger
With ongoing partner onboarding, the programme is set to expand further, giving prospective buyers even greater choice in terms of property type, location, and financing. By targeting a broad demographic and enabling smoother entry into homeownership, the plan is expected to significantly influence Dubai’s real estate dynamics in the coming years.
The First-Time Home Buyer Programme also supports the objectives of the UAE’s Year of Community by fostering social stability and ensuring more equitable access to one of the country’s most dynamic economic sectors.