Dubai real estate: Property giant Binghatti allocates 10% of units for first-time buyers
The UAE real estate developer has been selected as one of 13 property developers to support the FTHB Programme.
Binghatti will allocate a minimum of 10 per cent of its newly launched and existing residential units, priced under AED 5 million, for first-time buyers.
Binghatti joins Dubai's FTHB programme
The units allocated to the FTHB Programme will be made available ahead of public launches to ensure participants have access.
Binghatti will offer discounts on selected properties to first-time buyers, with incentives tailored for Emiratis and expats, as well as discounted administrative service fees.
'We are honoured to be part of the Dubai Land Department and the Dubai Department of Economy and Tourism's visionary initiative, one that aligns perfectly with our mission to expand real estate ownership in Dubai. The financial benefits that Binghatti is offering eligible first-time home buyers under the First-Time Home Buyer Programme are designed to make the dream of owning a home in Dubai more attainable for a broader segment of the population. By prioritising first-time buyers, we are not only contributing to the growth of the real estate sector and supporting the Dubai Economic Agenda, D33, ambition of reaching AED 1 trillion in real estate transactions, but also helping to build stronger, more sustainable communities,' Katralnada BinGhatti, CEO of Binghatti Holding Ltd. said.
The FTHB Programme launches during a period of growth for Dubai's real estate market. In the first quarter of 2025, the Dubai Land Department reported a 29 per cent year-on-year increase in total transaction value, reaching AED 114 billion.
The volume of property sales grew by 23 per cent, with a 65 per cent surge in villa and townhouse transactions, reflecting a shift from renting to owning.
The programme is open to all UAE residents, both nationals and expatriates, who are residents of the UAE and are purchasing their first freehold residential property under AED 5 million.
Binghatti currently has around 20,000 units under development across about 30 projects in residential areas across Dubai, including Downtown, Business Bay, Jumeirah Village Circle, Al Jaddaf, Dubai Science Park, Dubai Production City and Sports City.
The company's properties are branded residences built in collaboration with Bugatti, Mercedes-Benz, and Jacob & Co. and have attracted celebrity clients including football star Neymar Junior and the opera star Andrea Bocelli.
In May, Binghatti launched 'Aquarise Residences by Binghatti' in Business Bay in Dubai, featuring over 1,500 units spread across 232,300 square feet.
The company also announced in May that it had acquired freehold land with over 8 million square feet of gross floor area, with an anticipated total development value of over AED 25 billion.
The land is in Nad Al Sheba 1, in the heart of Dubai's Meydan district, and is set to be used for what would be the company's first master-planned residential community in the emirate.
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