Following the implementation of incentives by the Dubai Land Department (DLD) and the Dubai Department of Economy and Tourism (DET), in collaboration with leading developers, the developers are reporting a strong response from first-time purchasers.
The developers are attempting to entice new purchasers with additional options in addition to the incentives that 13 developers and five banks are providing in collaboration with DLD and DET.
The first-time home buyer program, which was introduced on July 2 for UAE citizens who are 18 years of age or older, offers priority access to units in new off-plan launches, improved commercial terms, such as preferential pricing on units up to Dh5 million, and customized mortgage products made just for qualified buyers.
Azizi Developments, Beyond Developments, Binghatti Holding, DAMAC Properties, Danube Properties, Dubai Properties, Ellington Properties, Emaar Properties, Majid Al Futtaim Group, Meraas, Nakheel, Palma Holding, and Wasl are among the developers who have previously committed to the program.
Commercial Bank of Dubai, Dubai Islamic Bank, Emirates NBD, Emirates Islamic, and Mashreq Bank are among the participating banks.
