Dubai Launches Landmark Initiative for First-Time Homebuyers

On July 2, 2025, the Dubai Land Department (DLD), in partnership with the Dubai Department of Economy and Tourism (DET), launched the First-Time Home Buyer Programme — a groundbreaking initiative designed to make homeownership more attainable for UAE residents. This marks a significant step towards Dubai’s goal to increase property ownership rates and strengthen its real estate market. The programme offers applicants priority access to off-plan and new launch properties, preferential pricing with discounts on homes valued up to AED 5 million, and bespoke mortgage solutions developed alongside leading financial institutions. This approach is tailored to ease financial burdens and encourage more residents to invest in property. Participation from major developers including Emaar, DAMAC, Nakheel, Danube, and Ellington reflects a strong commitment from the private sector to support this initiative. They are providing specially allocated units, flexible payment plans, and enhanced after-sales services exclusively for first-time buyers under this scheme. Several banks such as Emirates NBD, Dubai Islamic Bank, Mashreq, and Commercial Bank of Dubai have created specialized mortgage products featuring reduced interest rates, longer repayment terms, and lower down payments to complement the programme. This synergy between developers and banks is a key factor in the initiative’s potential success. Eligibility criteria are inclusive, allowing all UAE residents aged 18 and above who do not currently own freehold residential property in Dubai to apply. The programme aims not only to boost homeownership but also to foster stronger communities by increasing housing stability and diversity. The initiative aligns closely with Dubai’s Economic Agenda D33 and the Real Estate Strategy 2033, which focus on sustainable economic growth, urban development, and enhancing quality of life. Officials believe the programme will also contribute significantly to GDP growth by stimulating demand, investment, and innovation in the real estate sector. This program exemplifies Dubai’s model of public-private collaboration and innovative urban planning. It is expected to attract both local and international investors, bolster the residential real estate market’s resilience, and set a benchmark for similar initiatives in the region and beyond.