Thinking about buying your first home in Dubai? Now might be the perfect time to make your move

What is the Dubai First Home initiative?

Launched just two weeks ago, this government-backed initiative is a collaboration between the Dubai Land Department (DLD) and the Department of Economy and Tourism, aimed at making homeownership more accessible, especially for first-time buyers.

Leading developers, including Emaar, Nakheel, Azizi, and Binghatti, have already signed up, pledging direct discounts on properties. Industry insiders suggest these discounts could reach as high as 10% on homes priced up to Dh5 million.

So, whether you’re considering a cozy one-bedroom apartment or a spacious family villa, this programme could be the perfect opportunity to step into Dubai’s property market.

Am I eligible?

You’re eligible if you:

  • Are 18+ and currently live in the UAE

  • Don’t own a freehold property in Dubai

  • Want to buy a home under Dhs5 million

  • Are applying alone or jointly (if all parties qualify)

  • Own property in a non-freehold area? You’re still eligible!

  • Want to buy a home under Dhs5 million

Once registered, you’ll get priority notifications for new launches, whether or not you’ve found the right property yet.

What perks do I get as a first-time buyer?

No fluff. Here’s what you’ll actually get:

  • Priority access to off-plan launches from top developers

  • Discounted prices on select new properties

  • Flexible payment plans, including DLD fee instalments via credit card

  • Preferential mortgage rates from participating banks

  • Faster mortgage approvals

  • No extra cost to join the programme (you still pay standard DLD/Developer fees unless specified)

Don’t need a mortgage? You can still benefit from all property-related discounts.

Who’s involved?

The Dubai First Home initiative is backed by some of the biggest names in real estate and banking.

Developers:

Emaar, Nakheel, Meraas, DAMAC, Danube, Azizi, Ellington, Dubai Properties, Majid Al Futtaim, Binghatti, Beyond, Wasl, Palma Holding have already signed up, and more are expected to join.

These developers are offering direct discounts of up to 10% on selected properties priced under Dhs5 million. So far, 13 developers have officially signed on.

Banks:

Commercial Bank of Dubai, Emirates NBD, Mashreq, Dubai Islamic Bank, and Emirates Islamic are participating, each offering tailored mortgage products for first-time buyers.

While mortgage interest rates remain stable at an average of ~3.99% for the first three years (before switching to a variable rate), some banks are offering reduced processing fees and may waive valuation costs under the programme.

Is it worth it?

Short answer: yes. First-time buyers could save Dh8,000 to Dh10,000 in reduced bank fees over the first few years, thanks to waived or discounted charges.

On top of that, developers are offering up to 10% off property prices, plus flexible payment plans and faster mortgage approvals.

And while mortgage interest rates haven’t dropped yet, US rate cuts are expected later this year, which could lead to lower mortgage costs in the UAE, giving buyers even more long-term value.

In short, this is a smart time to take your first step into Dubai’s property market.

I’m sold. How do I apply?

You can register online now, via the official DLD website, and if you’re not eligible, they’ll let you know why so you can reapply later.

Images: Unsplash