Dubai Unveils New Home Ownership Scheme For Residents

The scheme provides buyers with priority access to new residential projects, preferential pricing, and custom mortgage options. It’s part of the emirate’s Real Estate Strategy 2033, which seeks to increase home ownership and double the sector’s contribution to Dubai’s GDP. Several leading developers – including Emaar, Nakheel, Meraas and DAMAC – have signed on to support the initiative. These developers will offer enhanced commercial terms and early access to units priced up to Dhs5 million. Participating banks such as Emirates NBD, Dubai Islamic Bank and Mashreq will also roll out mortgage products tailored specifically for first-time buyers.

The programme is open to all UAE residents aged 18 and above who do not currently own a freehold residential property in Dubai. Applications can be submitted online. The initiative supports the broader goals of the UAE’s Year of Community, aiming to foster a greater sense of belonging while encouraging sustainable urban development.

According to Helal Saeed Almarri, Director General of the Dubai Department of Economy and Tourism, the programme is designed to stimulate long-term investment and make housing more accessible. He noted that by reducing barriers to ownership, Dubai strengthens its appeal as a city where people can thrive personally and professionally.

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