Dubai has implemented a ground-breaking program that involves supporting first-time property buyers with various exclusive incentives for people living in the city buying homes worth AED 5 million and below. The programme is led by Dubai Land Department and the Department of Economy and Tourism, which offers zero registration fees, the possibility to purchase affordable off-plan units, and custom mortgage services with large banks.
The project can be used by all UAE residents who are 18 and older with a valid Emirates ID. It can help increase homeownership, expand real estate investment, and attract more than 10,000 new investors per month to real estate, according to DLD officials.
Aligning Real Estate With the D33 Masterplan
The initiative is also in line with the rest of the economy, the D33 economic agenda put in place by Dubai, as well as its Real Estate Strategy 2033, which targets to expand the contribution of the sector to GDP by AED 1 trillion of property transactions annually.
The programme enhances this momentum by increasing the ease of property ownership, particularly for the younger residents and expats. It also strengthens the notion of the city as it grows its population to 5.8 million people by 2040 and ranks Dubai as a world capital of sustainable investment and living.
Who Qualifies, and What Are the Benefits
Eligibility criteria for these incentives include:
- The resident who lives in the UAE
- At the age of 18 years or more
- He or she must possess a valid Emirates ID
- Should not already be a property owner in Dubai
- The value of the property should not exceed AED 5 million
- Both the salaried people and business people are eligible.
Key Benefits
This benefit can only be used once - it cannot be claimed again.
- Their main point of interest is that the buyers are offered a lead on the upcoming off-plan launches of top developers and get ahead of the competition.
- Part of the units are put under the programme, which offers special rates and will make homeownership more affordable.
- They offer long and flexible instalment plans whereby developers lower the capital requirements, as well as making it affordable with respect to the buyers.
- The partner banks will provide the financing solutions on terms and conditions that will favour them because it is targeted at first-time buyers.
- Individuals do not have to submit any Dubai Land Department registration fees, and this greatly reduces the amount spent on making first purchases or payments.
- Applicants can do their registration fast using the Dubai REST app or the DLD site, and they can be helped by the use of certified real estate brokers.
How To Apply
Applications should be made by the eligible residents by registering in the Dubai REST application or on the official website of the Dubai Land Department (DLD). The applicants will have to share some basic information, such as their Emirates ID number, the type of property they prefer to be accommodated in, and the budget they plan to spend. When filled in, the application is immediately posted to participating developers and banks, which simplifies the business.
It is also possible to address prospective buyers through accredited real estate brokers. It then links the buyers with the right property options and funds providers, streamlining the process between applying and owning property. There are no extra expenses in order to enrol in the programme.
To the people who prefer a more practical method, the DLD has also ensured that registered brokers can be hired by the residents who want to help them in the registration and selection process.
Key Participants
1. Government Authorities
- Dubai Land Department (DLD) – Lead organiser and platform operator
- Department of Economy and Tourism (DET) – Strategic partner in aligning with D33 goals
2. Property Developers
Major developers offering properties through the programme include:
3. Banks and Financial Institutions
Partner banks offering customised mortgage solutions:
- Emirates NBD
- Emirates Islamic
- Commercial Bank of Dubai (CBD)
- Dubai Islamic Bank
- Mashreq
4. Real Estate Portals
Platforms participating in promoting listings and connecting buyers:
- Dubizzle
- Property Finder
- Bayut
Majid Al Marri, CEO of the Real Estate Registration Sector, DLD, said that new investors are coming, with 10,000 coming every month to Dubai. This programme is one way of making more residents own their houses and not just rent them."
Omar Bu Shehab, the CEO of Dubai Land Department, announced that this programme is part of the commitment through the Dubai government to include a transparent and inclusive real estate environment that favours long-term residency and investment.
Khalid Al Shaibani, CEO of Strategy and Corporate Excellence, DLD, explained that the scheme is where the young people are given fair criteria, clear conditions, easy choices and the opportunity of owning a house and being financially stable in the future, by being first-time buyers.
According to Hadi Badri, CEO of Economic Development, DET, he said that we want the new generation of dwellers in Dubai to be in a position to plan and shape their future with comfort, and have somewhere of their own that they can call home.
Closing In
The program that Dubai offers to first-time homebuyers is more than a financial incentive: it is also a peek at a long-term strategy of encouraging stability, inclusiveness, and investment in the population. The programme fosters the integration of renters into owners.
It also reaffirms the position of Dubai being a progressive, resident-friendly location, having a well-built infrastructure, tax-free property ownership, and a sufficiently high level of visa perks.
Although the emirate is looking to achieve its goals of population and economic growth through its D33 strategy, enabling people to become homeowners will be a key milestone in transforming Dubai into a destination where people will not only live, but also where they belong.
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