Of the units purchased, 49 per cent were bought by residents who have lived in Dubai for more than five years without previously owning a home.

The Dubai Department of Economy and Tourism (DET) and DLD launched the FTHB programme in July last year to make home ownership more accessible for first-time property buyers. This project was launched in cooperation with developers and banks, offering first-time buyers access to new projects on a priority basis, tailored mortgage solutions, and preferential pricing.

Data showed that more than 41,000 residents have registered in the programme to-date.

Expanding Programme

Following the success of the programme, the government plans to expand it to include additional developers and properties. The partners in the programme, as per the DLD website, include Aziz, Emaar, Damac, Ellington Properties, Majid Al Futtaim, Beyond Properties, Danube Properties, Wasl, Nakheel, Dubai Properties, Meraas, Palma Development and Binghatti.

The participating financial institutions are Dubai Islamic Bank, Commercial Bank of Dubai, Emirates Islamic, Emirates NBD and Mashreq.

Many UAE tenants are shifting to ownership, especially in Dubai, in order to avoid rising rents and also gain from the capital appreciation. The UAE is no longer a transient place for expatriates, as many of them migrate to the country and retire here.

“This initiative not only strengthens investor confidence but also accelerates the real estate sector’s contribution to Dubai’s economy, in line with the goals of the Dubai Economic Agenda, D33,” said Hadi Badri, CEO of the Dubai Economic Development Corporation (DEDC), the economic development arm of DET.

Life-Changing milestone

Hailing the programme, the first-time property buyers found this initiative was a life-changing milestone for them.

According to Fatma Almarri, a first-time home buyer under the programme, owning a home felt distant, especially on a single income. “This programme made the process simpler and more achievable, and it has helped me take control of my financial future with greater confidence.”

Jade Lee, another resident who benefitted from the programme, said: “Owning my own property has been a life-changing milestone. Growing up in a family where homeownership was not common, I watched my parents move from one rental to another. Thanks to this programme, I now have stability and a foundation I can build on for my future.”

Majid Al Marri, CEO of the Real Estate Registration Sector at Dubai Land Department, explained that the rising interest in the programme underscores its success in converting latent demand into tangible real estate transactions.

He added that the DLD views the initiative as a practical model for integrating regulatory policies with effective partnerships across government entities, developers, and financial institutions, thereby simplifying the homeownership journey and reinforcing trust, transparency, and market stability.