Buying Property in Dubai: New ‘Own First Home’ Initiative

Ever thought of buying property in Dubai? Now might just be the best time.  

The demand for homeownership in Dubai continues to rise, as more and more residents look to settle down and invest in their future. Rents are climbing astronomically, and the city continues to grow at an unprecedented rate. It is understandable that many are weighing up whether it is time to step onto the property ladder.   

To further support this, Dubai has launched the ‘Own a First Home’ initiative. This gives UAE residents a chance to secure a home in one of the world’s most dynamic multicultural cities. 

What is the ‘Own A First Home’ Initiative?  

The ‘Own a First Home’ initiative is a new programme designed to help residents take the step from renting to owning a property in Dubai. It offers access to homes priced under AED 5 million. Thus, making it easier for first-time buyers to find a place that suits their needs and budget.  

One of the key benefits is access to lower mortgage rates in Dubai, along with flexible payment plans that ease the path to ownership. Mortgage terms can extend up to 18 years, helping buyers manage repayments with more confidence.   

The initiative is made possible through partnerships with top banks and developers in the city. It helps residents build a stable future and become part of Dubai’s growing community of homeowners. 

Who is Eligible?  

The ‘Own a First Home’ initiative is open to UAE nationals and residents who are looking to begin their journey into property ownership in Dubai. To apply, you will need to meet the following criteria:  

• • You must be over 18 years old.   

• • You must not already own a home anywhere in the UAE.   

• • You must be a current resident or UAE national.  

Participating Developers & Banks  

The ‘Own a First Home’ initiative is supported by some of the most trusted names in the city. Buyers can gain more confidence as they look to buy property in Dubai under this scheme.  

Participating Developers:  

• • Emaar  

• • Nakheel  

• • Damac  

• • Azizi  

• • Meraas  

• • Wasl Properties  

• • Majid Al Futtaim  

These developers offer a range of apartments, villas, and townhouses across Dubai’s top communities.  

Participating Banks:  

• • Emirates NBD  

• • Mashreq  

• • Emirates Islamic  

• • Dubai Islamic Bank  

• • Commercial Bank of Dubai  

These banks provide competitive mortgage rates and flexible payment plans under the initiative. Salary requirements, however, will be set by each bank.   

Why This Is a Good Time to Buy  

Dubai property investment has proven to be a steady way to build long-term value while enjoying life in the city. In many top communities, property values have doubled within just a few short years.  

Furthermore, Dubai’s investment in new roads, communities, and business areas is adding strength to the market. 

Government support makes it easier for residents and nationals to secure their home before prices climb further. For those considering taking a step onto the property ladder, acting now can help you take advantage of a market that shows no signs of slowing down.  

How Key One Can Help  

At Key One, we support your property journey at every stage. We guide you through the process of buying with clear, informed advice, to help you find the right property that suits your goals and budget.  

But we don’t stop there. We offer full property management to protect and grow your investment. Your home will be expertly managed from start to finish, while delivering consistent returns.   

If you prefer to generate income through short-term stays, we have you covered. Our holiday home rental services can position your property in Dubai’s thriving holiday market. And if you want to enhance your space, our interior design team can help create a home that reflects your style while adding value to your investment.  

Your property investment is more than a transaction. It’s your legacy, and it’s our business.  

Ready to Take Your Next Step?  

Buying property in Dubai is a step towards building a secure and rewarding future in a city that continues to grow. With the government’s ‘Own a First Home’ initiative, owning your first home in Dubai has never been more within reach.  

With us by your side, you will feel informed and supported as you take this important step. If you are considering buying your first home in Dubai, get in touch with our investment specialists to discuss your options. Begin your journey with confidence.