Dubai Announces New Incentives For Residents Buying Property For The First Time

Dubai announced a new initiative on Wednesday to make it easier for residents to purchase their first home, offering exclusive benefits.

Aimed at encouraging home ownership and boosting investment in real estate, the programme is open to UAE residents who are first-time property buyers. The programme offers eligible buyers priority access to new launches, preferential pricing and attractive mortgage solutions.

Jointly by the Dubai Land Department and the Department of Economy and Tourism, the programme was launched along with more than 13 developers, five banks and strategic partners. This reflects Dubai's vision, promoting residents to own their first home, which will improve their quality of life, and is in line with the D33 strategy.

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Majid Al Marri, CEO of the Real Estate Registration Sector at Dubai Land Department, said 10,000 new investors are coming to Dubai every month.“We hope to increase these numbers through this programme.”

Khalid Al Shaibani, director of Rental Affairs Department at Dubai Land Department, said this is a pioneer programme and strategic and social initiatives enabling people to own their first time based on fair criteria, clear conditions and easy options in a safe way.

He said the programme is open to every resident of the UAE above 18 years who has a valid Emirates ID and has not owned a home before. They can own an apartment for less than Dh5 million. He said there are no restrictions on leasing or selling the unit.

“In terms of benefits, people who register through the DLD website and the Dubai REST app will have access to new projects listed by developers, and preferential prices for new units from developers. There will be a flexible payment plan, and you can pay the registration fee without any interest,” said Al Shaibani.

He added that the link is active for registration.

"People need to enter their preferences, whether they want to buy a villa or apartment, decide their budget and also how they want developers to contact them - through email or phone. All the details will go directly to the developer only. Upon registration, people will get a notification that their application has been accepted, and banks will also come to know about the interest," he said.

He added that those people who don't want to register can do so through brokers.

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