Dubai Launches 'Own First Home' Scheme to Help Residents Become Property Owners

Dubai has unveiled the ‘Own First Home’ initiative to help UAE residents become property owners with exclusive incentives. Jointly launched by the Dubai Land Department and the Dubai Department of Economy & Tourism, the programme features preferential pricing, access to select property releases, and attractive mortgage options. Eligible properties are priced below AED 5 million, with financing rates among the lowest in the market and mortgage tenures of up to 18 years. Buyers can also benefit from flexible payment plans offered by participating banks and additional support from developers.

The initiative has already seen participation from 13 developers and five banks, with more expected to join. Leading real estate portals such as Bayut, Property Finder, and dubizzle, along with brokers, are also supporting the programme. Banks will determine the salary eligibility criteria for applicants. With over 110,000 new property investors recorded recently in Dubai, experts view this scheme as a key step in encouraging first-time buyers and broadening access to homeownership across the emirate.