Thousands rush to buy properties as Dubai offers incentives for first-time homeowners
Property developers are receiving hundreds of enquiries daily from first-time buyers, and thousands of interested candidates have registered to take advantage of incentives offered by Dubai authorities.
The developers are reporting a robust response from first-time buyers after the introduction of incentives by the Dubai Land Department (DLD) and the Dubai Department of Economy and Tourism (DET), in cooperation with top developers.
On July 2, the first-time home buyer programme was launched for UAE residents aged 18 and above, offering priority access to units in new off-plan launches, and enhanced commercial terms, including preferential pricing on units up to Dh5 million and tailored mortgage products designed specifically for eligible buyers.
Developers already committed to the programme include Azizi Developments, Beyond Developments, Binghatti Holding, DAMAC Properties, Danube Properties, Dubai Properties, Ellington Properties, Emaar Properties, Majid Al Futtaim Group, Meraas, Nakheel, Palma Holding, and Wasl.
Participating banks are Commercial Bank of Dubai, Dubai Islamic Bank, Emirates NBD, Emirates Islamic and Mashreq Bank.
Up to 1,000 queries daily
Rizwan Sajan, founder and chairman of Danube Group, said the response from first-time buyers has been very encouraging since incentives were announced.
“We receive 500-700 queries daily, with 99 per cent coming directly from buyers – not brokers, indicating a real shift toward end-user interest,” said Sajan.
Developers’ incentives
Danube Properties has announced a 10 per cent allocation of its residential units to this segment, a one per cent monthly payment plan and an easy payment plan requiring just 60 per cent before handover to make homeownership more attainable.
“By combining these benefits, the initiative removes traditional barriers to property ownership, such as large down payments and rigid financing options, making it easier than ever for residents — especially young professionals and families — to step onto the property ladder. Five top banks have joined hands to make this possible,” said Danube Properties.