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?
Just launched two weeks ago, this government-backed initiative is a joint effort between the Dubai Land Department (DLD) and the Department of Economy and Tourism — all about making homeownership more within reach, especially for first-time buyers.
Top-tier developers like Emaar, Nakheel, Azizi, and Binghatti are already on board, offering direct discounts on properties. Word in the industry? These price cuts could go up to 10% on homes priced up to Dh5 million.
So whether you’re eyeing a chic one-bedroom or a roomy family villa, this could be your golden ticket into Dubai’s real estate scene.
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 you’re signed up, you’ll get first dibs on new launches — even if you haven’t locked in your dream property just 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)
Not taking out a mortgage? No worries — you’re still eligible for all the property perks and discounts.
Who’s involved?
The Dubai First Home initiative has heavyweight backing — with some of the biggest names in real estate and banking behind it.
Developers:
Big names like Emaar, Nakheel, Meraas, DAMAC, Danube, Azizi, Ellington, Dubai Properties, Majid Al Futtaim, Binghatti, Beyond, Wasl, and Palma Holding are already on board — and the list is still growing.
These top developers are dropping exclusive direct discounts of up to 10% on select properties priced under AED 5 million. So far, 13 developers have officially jumped in.
Banks:
Commercial Bank of Dubai, Emirates NBD, Mashreq, Dubai Islamic Bank, and Emirates Islamic are all in, each rolling out custom mortgage deals designed for first-time buyers.
With mortgage interest rates holding steady around 3.99% for the first three years (before moving to a variable rate), some banks are sweetening the deal with lower processing fees — and even waiving valuation charges as part of the program.
Is it worth it?
Short answer: yes. First-time buyers could pocket Dh8,000 to Dh10,000 in savings on bank fees early on, thanks to waived or slashed charges.
Plus, developers are throwing in up to 10% off on property prices, flexible payment plans, and speedier mortgage approvals to seal the deal.
And while mortgage rates haven’t dipped just yet, expected U.S. rate cuts later this year could bring down mortgage costs in the UAE too — unlocking even more long-term value for buyers.
Bottom line: it’s a savvy time to make your move into Dubai’s property market.
I’m sold. How do I apply?
You can sign up online now through the official DLD website. If you’re not eligible, they’ll tell you why — so you’ll know exactly what to fix before reapplying.
Images: Unsplash
