Danube Properties introduces first-time buyers to ownership in Dubai through a sponsorship-supported buying scheme
In a bid to make homeownership more accessible for Emiratis and expatriates in Dubai, Danube Properties has launched a First-Time Home Buyer (FTHB) initiative as part of a wider Dubai government-backed program. This program aims to prioritize and subsidize new homes for first-time buyers, with properties valued up to AED 5 million.
The FTHB initiative offers several key benefits to eligible buyers:
- Priority access to units in new launches by participating developers like Danube Properties.
- Flexible payment plans for off-plan properties.
- Attractive discounts on off-plan property prices from select developers.
- Interest-free installment options for Dubai Land Department (DLD) registration fees when paid via eligible credit cards.
- Improved mortgage access with better interest rates, faster approval times, and reduced fees through participating banks.
- Automatic eligibility checks for residency programs linked to property purchase.
To be eligible for the FTHB initiative, applicants must meet the following requirements:
- Be an Emirati national or UAE resident (expat), aged 18 or over, holding a valid Emirates ID.
- Be a first-time buyer, meaning no ownership of any freehold residential property in Dubai previously.
- The property must be valued at or below AED 5 million.
- No fixed salary criteria; financing approval depends on banks’ assessments based on credit scores.
- Buyers lose their first-time home buyer status once they purchase a property under the scheme, even if they later sell it and wish to participate again.
The FTHB initiative was introduced to counter the surge in foreign investors buying Dubai properties, which has increased prices significantly and made entry difficult for local residents and Emiratis. It aims to give them priority access, competitive prices, and financial facilitation, especially in the mid-range market, thereby encouraging residents to transition from renting to owning.
Danube Properties has partnered with Dubai Department of Economy and Tourism (DET) and Dubai Land Department (DLD) to launch this initiative. The company has allocated 10% of its residential units exclusively for first-time home buyers, offering unmatched flexibility and affordability to those stepping onto the property ladder for the first time.
- The FTHB initiative, part of a wider Dubai government-backed program, provides priority access to units in new launches from developers like Danube Properties.
- Eligible buyers under the FTHB initiative can avail of flexible payment plans for off-plan properties from developers like Danube Properties.
- The First-Time Home Buyer (FTHB) initiative offers attractive discounts on off-plan property prices from select developers, such as Danube Properties.
- In addition to priority access, flexible payment plans, and attractive discounts, the FTHB initiative includes interest-free installment options for Dubai Land Department (DLD) registration fees when paid via eligible credit cards.
