The Dubai Land Department (DLD) launched the “First Property Ownership” program on Wednesday for UAE citizens and residents, in partnership with real estate development companies and several banks operating in the local market. The program targets more than 5,000 beneficiaries by the end of 2025.
The program offers numerous benefits to beneficiaries, including credit facilities of up to 18 years and the possibility of paying the 4% Dubai Land Department registration fee in installments. Participating real estate development companies also offer discounts and preferential rates on property prices, which may be up to 10% lower than the market price, whether ready or off-plan.
The program requires applicants to be residents of the UAE, not currently owning any residential property under the freehold system in Dubai, be 18 years of age or older, and ensure the property value does not exceed AED 5 million.
The program applies a one-time use policy, freeing properties from rental restrictions for long-term investment purposes.
Regarding the program’s benefits, Khalid Al Shaibani, Director of the Rental Affairs Department at Dubai Land Department, said: “The program offers several benefits, the most important of which are priority access to viewing and reserving residential units in new projects from real estate developers, preferential rates for new residential units, a flexible payment plan for registration fees with the department (4%), or through interest-free credit cards, and competitive mortgage financing offers from banks with reduced interest rates and fees.”
Applicants can apply to the program via an electronic link provided by Dubai Land Department, the Dubai REST app, or the department’s website. Applications will then be reviewed to include eligible residents on the program’s beneficiary list, and developers will be notified of this list.
Applicants can apply to the program via an electronic link provided by Dubai Land Department, the Dubai REST app, or the department’s website. Applications will then be reviewed to include eligible residents on the program’s beneficiary list, and developers will be notified of this list.