Dubai first-time buyer scheme lifts home sales past Dh3.25b in six months

Dubai: Dubai’s First-Time Home Buyer program has helped more than 2,000 residents purchase their first home within six months of its launch, generating over Dh3.25 billion in residential property sales, according to figures released by the Dubai Land Department.

The initiative, introduced in July 2025, was developed by the Dubai Department of Economy and Tourism and the Dubai Land Department to widen access to home ownership. It brings together government entities, developers, and banks to offer first-time buyers priority access to new projects, tailored mortgages, and preferential pricing.

More than 41,000 residents have registered so far. Of those who completed purchases, 49% had lived in Dubai for more than five years without previously owning a home, underscoring the program’s focus on long-term residents.

Officials said the figures point to rising end-user demand in a market long dominated by investors.

The program aligns with Dubai’s Economic Agenda D33, which aims to double the size of the economy by 2033, and with the Dubai Real Estate Strategy 2033. Authorities also linked it to broader efforts to strengthen social stability and economic resilience.

Dubai Land Department data show transactions have been spread across participating developers, with first-time buyers making strong use of mortgage products offered by all five partner banks.

Hadi Badri, chief executive of the Dubai Economic Development Corporation, said the response reflects strong coordination between the public and private sectors and growing confidence in Dubai’s property market.

He said the program is supporting the real estate sector’s contribution to economic growth, while encouraging residents to put down long-term roots in the city.

Majid Al Marri, head of the real estate registration sector at Dubai Land Department, said the initiative is helping convert underlying demand into completed transactions.

Dubai’s real estate market recorded total transactions of Dh917 billion in 2025, Al Marri said, describing the year’s performance as exceptional and driven by sustained buyer interest.

He said the first-time buyer scheme offers a practical framework for linking regulation with partnerships across developers and financial institutions, easing the ownership process and reinforcing market transparency.

Officials said the program continues to stimulate activity by expanding access for residents who previously viewed ownership as unattainable.

Some early participants described the initiative as a turning point.

Fatma Almarri, who bought her first home through the scheme, said the structured support made ownership achievable and gave her greater financial confidence.

Another buyer, Jade Lee, said the purchase marked a shift from years of renting and provided long-term stability.

Dubai authorities said work is underway to add more developers and properties, widening the range of homes available to first-time buyers.

They said the next phase will focus on expanding choice while maintaining support mechanisms aimed at strengthening end-user demand.

Officials described the program as part of a broader push to build a more inclusive housing market that supports population growth, workforce retention, and long-term economic competitiveness.