Dubai property: preferential rates, priority access for first-time buyers

Dubai on Wednesday launched the ‘first-time home buyer programme’ through which units valued up to AED5 million ($1.4m) will be offered at preferential rates.

The initiative is backed by the Dubai Land Department (DLD) and the Dubai Department of Economy and Tourism (DET). As per DLD’s website, perks include priority access to newly launched units from real estate developers, preferential prices on units reserved by program participants, flexible payment plans for registration fees through eligible credit cards, and competitive mortgage offers from banks.

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Developers supporting the initiative include Emaar, Nakheel, Meraas, DAMAC, Azizi, Dubai Properties, Binghatti, and others.

Meanwhile participating banks — Commercial Bank of Dubai, Dubai Islamic Bank, Emirates NBD, Emirates Islamic and Mashreq — will provide customised mortgage solutions.

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Open to all UAE residents aged 18 and above who do not currently own a freehold residential property in Dubai, the programme “aims to promote social inclusion, encourage long-term investment and contribute to community resilience.”

Helal Saeed Almarri, Director-General of DET, said the programme will stimulate demand and liquidity in the real estate sector, enhancing Dubai’s global competitiveness and offering a sustainable model for urban development.

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In order to apply, residents must register via the DLD website or the Dubai REST app and submit the required information. If eligible, they will receive a confirmation email from DLD containing a QR code, which can be used to access programme benefits through participating developers and banks