Dubai Launches ‘Own First Home’ Initiative to Help Residents Become Property Owners
Dubai has unveiled a new real estate initiative aimed at helping UAE residents—locals and expats alike—purchase their first homes on preferential terms. The “Own First Home” programme offers exclusive access to new property launches, attractive mortgage plans, and flexible financing options.
Homes Priced Under AED 5 Million Only
To qualify, properties must be priced under AED 5 million. Buyers benefit from below-market financing rates and longer repayment periods. The mortgage tenor under this programme extends up to 18 years, giving residents more breathing room to plan their finances.
Expats and Locals Encouraged to Buy
Majid Al Marri, CEO of the Real Estate Registration Sector at the Dubai Land Department, confirmed the programme targets both Emiratis and expatriates. He added that a second phase may extend the offer to overseas buyers.
Banks and Developers Offer Exclusive Deals
The programme is a joint effort by the Dubai Land Department and Dubai Department of Economy & Tourism. It includes support from 13 major developers and 5 partner banks. These institutions will provide flexible payment plans and attractive financing to qualified applicants.
Eligibility Depends on Salary Criteria
While the programme is open to all residents, the partner banks will determine eligibility based on the applicant’s salary. This allows banks to tailor offers based on individual financial profiles.
Major Platforms and Brokers Join the Movement
Leading real estate platforms such as Bayut, Property Finder, and dubizzle have signed up to promote the initiative. Brokers across the city are also joining in, opening the door to new buyers and first-time investors.
Dubai Sees Surge in First-Time Property Investors
Dubai’s real estate sector continues to boom, with over 110,000 new property investors entering the market in recent data. This new initiative is expected to accelerate ownership, especially among residents who were previously priced out.
Conclusion: A New Path to Property Ownership in Dubai
Dubai’s “Own First Home” programme offers a rare opportunity for residents to step onto the property ladder with confidence. From affordable pricing to easy financing, the initiative is set to reshape how people buy homes in one of the world’s most dynamic property markets.
