Dubai has introduced a new initiative aimed at helping more people buy their first homes in the city. The “First Home Ownership” program, announced by the Dubai Land Department together with the Department of Economy and Tourism, is designed to make owning a property more accessible to both Emiratis and expatriates.
The program comes with several advantages. First-time buyers will have the opportunity to see and choose from new property developments at their earliest stages, well before they are made available to the general market. This gives them a better chance to select homes that meet their needs, in terms of location, size, and price.
In addition to early access, the initiative offers preferential pricing on properties valued up to AED 5 million. This aims to make homeownership more affordable for people across different income levels and nationalities. The program is being rolled out in collaboration with some of Dubai’s biggest real estate developers, including Emaar, Meraas, Wasl, Azizi, Nakheel, Damac, and Binghatti, offering a wide selection of residential options in key areas of the city.
To support buyers with financing, several major banks have joined the initiative, among them Emirates NBD, Emirates Islamic, Dubai Islamic Bank, Commercial Bank of Dubai, and Mashreq Bank. These banks will provide mortgage solutions tailored specifically for first-time homeowners, with flexible terms designed to ease financial commitments.
Officials say the “First Home Ownership” program reflects Dubai’s ongoing efforts to enhance living standards and provide practical support to residents and citizens looking to settle down and invest in their future within the emirate.
