Dubai Launches First-Time Home Buyer Scheme

Photo: Dubai Government Media Office 

Dubai has started a new programme called the First-Time Home Buyer Programme to help more people own their first homes easily. This programme is for both Emiratis and expatriates living in Dubai. It will give them priority access to new houses, lower prices, and special mortgage plans to make buying a home easier.

The programme was launched on 2 July at a press conference held by the Dubai Land Department. Important people like Majid Al Marri, CEO of Real Estate Registration Sector at DLD, and Hadi Badri, CEO of Dubai Economic Development Corporation, were present. Many senior officials from the Dubai Land Department and the Dubai Department of Economy and Tourism attended, along with top banks and real estate companies.

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This new programme supports Dubai’s goals under the Economic Agenda D33 and the Real Estate Strategy 2033, which aim to double the city’s economy and increase the number of people owning homes. It is also part of the UAE’s Year of Community plan to make the country stronger and more united.

This plan shows how Dubai’s government works with private companies to grow the economy. Many big developers have already joined this programme, such as Emaar Properties, Damac Properties, Nakheel, Azizi Developments, Danube Properties, Dubai Properties, Ellington Properties, Majid Al Futtaim Group, Binghatti Holding, Wasl, Palma Holding, Beyond Developments, and Meraas. These companies will give first-time home buyers early access to new housing projects, better prices, and special deals for houses priced up to AED 5 million.

Some of Dubai’s biggest banks are also supporting this plan. Banks like Emirates NBD, Dubai Islamic Bank, Commercial Bank of Dubai, Mashreq, and Emirates Islamic will offer special home loans for people buying their first home. More banks and companies will join in the future to give buyers even more choices.

This programme is open to all UAE residents aged 18 and above, whether they are Emiratis or expatriates. The only condition is that they must not already own a freehold house in Dubai.

Helal Saeed Almarri, Director General of the Dubai Department of Economy and Tourism, said that this programme shows the smart vision of Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Ruler of Dubai. He said it will bring long-term growth to Dubai’s economy by helping more people buy homes and making the city an even better place to live and work.

He also said that while many cities around the world face problems with housing, Dubai is creating a strong, fair, and smart housing system. This will help keep talented people in Dubai, build stronger communities, and make Dubai more competitive globally.

Omar Bu Shehab, Director General of Dubai Land Department, said that this programme will make Dubai’s property market more open, fair, and strong. It will help people and families invest in their future homes and support the goals of the Dubai Real Estate Strategy 2033 and Economic Agenda D33. He said this programme will make Dubai a global leader in building strong and sustainable cities.