Dubai Launches “Own Your First Home” Initiative for Residents

Dubai has introduced a new initiative to help residents become homeowners. Eligible individuals will gain access to preferential pricing, enhanced mortgage terms, and prior access to new property launches.

Eligibility and Property Options

1. Applies to residents and UAE nationals aged 18 or older who have not previously owned a residential property in the emirate.
2. Properties must be priced under AED 5,000,000.
3. Participants benefit from some of the lowest mortgage rates, extended payment tenors up to 18 years, and reduced or zero interest and registration fees

Developer and Bank Participation

Thirteen leading developers are on board, including Emaar, Nakheel, DAMAC, Azizi, Wasl, Dubai Properties, Danube, Binghatti, Meraas, Ellington, Beyond, Majid Al Futtaim, and Palma Development.

Five banks are providing mortgage support: Emirates NBD, Emirates Islamic Bank, Mashreq, Dubai Islamic Bank, and Commercial Bank of Dubai.

Early listings may offer discounts of up to 10 %.

How the Initiative Works

1. Interested residents register via the Dubai Land Department website or the Dubai REST app.
2. Qualifying applicants receive a unique QR code to access the programme at participating developers and banks.
3. Properties are available both off-plan and ready, in established and emerging communities.

Benefits for Buyers

1. Preferential pricing: Up to 10 % discount on selected properties.
2. Flexible financing: Longer mortgage terms and low rates below current market averages.
3. Waived fees: Reduced or zero Dubai Land Department registration fees.
4. First access: Early availability for desirable units from top-tier developers.

A Step Toward Stability and Ownership

This program aims to encourage long-term residency by helping renters transition to ownership. With rising property prices and rent levels, this initiative makes ownership more realistic and accessible for residents who previously waited. It also aims to balance the impact of foreign investment, keeping properties available to residents and building a more stable local market.