Binghatti Joins Dubai Authorities to Empower First-Time Home Buyers

Dubai, UAE – In a strategic collaboration with the Dubai Land Department (DLD) and the Dubai Department of Economy and Tourism (DET), Binghatti Holding has joined the newly launched First-Time Home Buyer (FTHB) Programme. This government-backed initiative aims to open doors to homeownership for residents—both Emirati and expatriate—who are stepping into the real estate market for the first time.

As part of this move, Binghatti is reserving at least 10% of its residential units, both from newly launched and existing projects priced under AED 5 million, exclusively for qualified first-time buyers. These units are made available ahead of the public release, ensuring buyers enjoy priority access. In addition to earlier booking, the developer is offering special price reductions and reduced administrative fees, further enhancing the financial ease for eligible buyers.

The FTHB Programme is a cornerstone of Dubai’s broader economic ambition, supporting the Dubai Economic Agenda (D33) and the Real Estate Strategy 2033, which strives to boost homeownership while doubling real estate’s contribution to GDP. Experts expect this shift to reshape the market, welcoming more owner-occupiers into a space previously dominated by investors.

Why Now? A Market in Motion

The launch of this programme coincides with a period of robust growth in Dubai’s property market. In Q1 2025, total transactions surged to AED 114 billion, reflecting a 29% increase year-on-year, and sales of villas and townhouses climbed 65%, showing a growing preference for ownership over renting.

Binghatti’s Expanding Footprint

With about 20,000 homes under development across 30 projects—including locations like Downtown Dubai, Business Bay, JVC, Al Jaddaf, and Sports City—Binghatti remains a prominent player in Dubai’s real estate landscape. Its recent ventures include the 1,500+ unit Aquarise Residences in Business Bay and the acquisition of over 8 million sq. ft in Nad Al Sheba 1 for a planned AED 25 billion masterplanned community. The developer is also known for creating branded residences in collaboration with global icons such as Bugatti, Mercedes-Benz, and Jacob & Co., and attracting celebrity investors such as Neymar Jr. and Andrea Bocelli.