For citizens and residents .. Dubai launches the “First Real Estate” program

The Dubai Land and Property Department and the Department of Economy and Tourism in Dubai launched the “Ownership of the First Property” program, which aims to make home ownership within reach a broader segment of citizens and expatriates.

The program provides financial facilities, in addition to the priority of seeing new projects, as well as obtaining preferential prices and mortgage solutions.

The initiative was launched with the participation of a group of major real estate development companies, including “Wasl”, “Marsas”, “Emaar”, “Azizi”, “Nakheel”, “Damac” and “Bin Ghati”; In addition to a group of banks, including Emirates NBD, Emirates Islamic Bank, Dubai Islamic Bank, Dubai Commercial Bank and Mashreq Bank.

The program provides solutions to home buyers for the first time, through the priority of seeing new projects that are launched from the planning stage, and other features of owning the property.

The program provides preferential prices on the units of up to 5 million dirhams and less for all qualified groups of various nationalities and income levels. The applicants require some conditions, including; The ages of those wishing to buy are not less than 18 years old, and that they are residents in the UAE and have no real estate free ownership in Dubai at the present time.