Dubai has launched a game-changing initiative to facilitate first-time investors. Spearheaded by the Dubai Land Department (DLD), this new program is a collaborative effort between 13 leading developers and five prominent banks. The goal is simple yet powerful: empower residents and locals to take their first step onto the property ladder with flexible financing, preferential pricing, and government-backed incentives.
Here’s everything you need to know about Dubai’s first time investor property scheme.
What is the Initiative?
The newly introduced Dubai first-time investor property initiative targets individuals looking to buy their very first home in the emirate. The scheme is open to UAE residents aged 18 and above who hold a valid Emirates ID and do not currently own a freehold property in Dubai.
Under this program, eligible buyers can invest in properties valued up to AED 5 million (approximately USD 1.36 million), regardless of their income level. Importantly, there are no salary criteria attached to the eligibility, with participating banks having the discretion to decide financing terms.
Which Developers Are Part of the Program?
The DLD has brought together a powerhouse lineup of 13 developers:
- Emaar
- Nakheel
- Azizi Developments
- Wasl
- Dubai Properties
- Damac Properties
- Danube Properties
- Binghatti
- Meraas
- Ellington Properties
- Beyond Developments
- Majid Al Futtaim
- Palma Holding
Which Banks Are Participating?
In parallel, five major financial institutions are offering financing solutions:
- Emirates NBD
- Emirates Islamic
- Mashreq Bank
- Dubai Islamic Bank
- Commercial Bank of Dubai
Key Benefits for Investors
- Priority Access: First-time buyers will be given exclusive early access to newly listed properties.
- Flexible Payment Plans: Customizable options that allow easier entry into the market.
- Zero-Interest Registration Fees: DLD registration fees can be paid via banks or credit cards with 0% interest.
- Developer Discounts: Special offers and price cuts are expected from partnered developers.
- Attractive Financing Offers: Participating banks are extending preferential mortgage terms to qualified buyers.