Dubai Introduces First-Time Buyer Scheme For UAE Residents

Dubai has launched a first-of-its-kind initiative to support first-time property buyers, offering exclusive benefits through partnerships with 13 developers and 5 banks. The scheme targets UAE residents aged 18 and above who have never owned a freehold home in Dubai, allowing them to purchase properties valued up to Dh5 million.

Buyers will receive priority access to new launches, flexible payment plans, preferential pricing, and interest-free registration fee options. Participating developers include Emaar, Nakheel, Damac, Meraas, and others, while banks such as Emirates NBD and Dubai Islamic Bank will offer tailored mortgage solutions.

Registration is available via the Dubai Land Department website or the Dubai REST app. Officials expect the initiative to attract 5,000 new investors this year, reinforcing Dubai’s goal of reaching Dh1 trillion in property transactions by 2033.