Last updated: July 03, 2025
Dubai: Straight discounts of up to 10% on property deals.
Potentially lowered limits on salary levels to be eligible for bank finance.
The intent is also to have residents earning, say, Dh15,000-Dh20,000 consider investing in a sub-Dh1 million home. And if all the other eligibility criteria match, then developers and banks would become interested. The payment tenor on mortgages would extend to 18 years.
The salary criteria will be made as generous as possible’, according to two of the developers who signed up for the Dubai Land Department program. (So far, 13 developers and 5 banks are part of this.)
These are among the key incentives under Dubai’s new ‘first-time homeownership’ initiative launched on Wednesday (July 2). The plan is to bring onboard as many first-time property owners into Dubai as possible, and where the offered homes would be under Dh5 million.
“This is the first major combined initiative to bring in ‘new’ homeowners into Dubai property – and not just have more investors,” said a developer source. “There are many potential buyers who might have kept on delaying buying a home in Dubai for various reasons.
“Now, Dubai is telling them they are getting special prices, generous and flexible payment plans, and direct support from developers and banks.”
The program is open to UAE Nationals and residents only at this stage.
Salary criteria
The flexibility promised under the first homeownership program will extend to the salary criteria of those signing up. (Potential firs-time home buyers need to sign up using the Dubai Land Department website or the Dubai REST app.)
Property market sources say developers and the banks involved will look come up with financing support that will ease the payment process for the widest pool of buyers.
“The Dubai first homeownership project opens the door to buyers who were previously sidelined,” said Tizian Raab, Chief Communications Officer at Azizi Developments. “This especially resonates with younger residents and signals a more inclusive market approach — one that encourages more people to become long-term stakeholders in Dubai property.”
What should investors keep in mind?
According to the Property Finder platform, those interested in the Dubai first home program should:
· Start with a realistic budget.
· Explore mortgage options early.
· Factor in upfront and long-term costs.
· Use a first-time home buyer checklist to stay on track.
· Work with a licensed broker who understands the programme and can offer you the best tips for first-time home buyers.
“We would certainly see more mid-income salaried individuals becoming first-time homeowners,” said Aakarshan Kathuria, founder of RiseUp consultancy.
“One of the primary drivers behind it would be access to lowest financing rates to buy the property, providing for lower monthly payments throughout its amortization period.”
