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The National
08-07-2025
- Business
- The National
Dubai's plan to help first-time buyers is about more than property
The UAE has become widely recognised as a place of opportunity in a world struggling with sluggish economic growth. Abu Dhabi and Dubai consistently appear in regional and global lists for an enviable quality of life that goes hand in hand with a dynamic and diversifying economy. Over the years, Dubai's glittering skyline became synonymous with glamour and luxury living. But there is a more nuanced picture, and that is increasingly true in Dubai's housing market, too. Less than a week ago, Dubai Land Department announced that the emirate was teaming up with 13 developers and five banks to launch a scheme that would support first-time buyers who want to get their foot on the property ladder. Participating developers will offer flexible payment plans, priority access to new homes and discounts on the sales price of off-plan units. Banks will be able to offer mortgages with better interest rates, faster approval times and reduced fees and buyers will be able to pay the DLD registration fee through banks or credit cards at zero-interest rates. There is no minimum salary requirement and Emirates ID holders of any nationality who are aged 18 and above can take part. It is a comprehensive package of measures that has the potential to revolutionise Dubai's property market – but it could achieve much more than that. With the UAE's residency permits for retired people and remote workers, as well as the expansion of its 10-year golden visa programme and overall economic growth, the country is increasingly becoming a place that attracts people from all walks of life, not for a few years, but for the long term. By making home ownership a realistic possibility for more people, the country is not only empowering residents, it is also laying the foundations for a strong society and sustainable future. The DLD expects 5,000 new investors to enter the market this year following the initiative. Potentially, this could mean thousands more families either owning a home in the UAE or acquiring an important asset that could generate wealth for generations to come. Many homeowners invest time and money not only in their properties but in their neighbourhoods and communities too. By helping to make homeownership a reality for more people, Dubai can expect to develop even more cohesive neighbourhoods with strong community bonds, which could increase the emirate's appeal in a competitive global market for international talent. The Dubai Land Department expects 5,000 new investors to enter the market this year following the initiative. Potentially, this could mean thousands more families owning a home in the UAE The scheme also offers more immediate benefits. An energised real-estate sector means more construction activity, leading to significant job creation as building materials manufacturers, architects, workers and tradespeople find themselves in demand. Of course, such demand will be closely managed – even the most well-designed and implemented first-time buyers' scheme is vulnerable to fluctuating property prices. As the UAE continues its evolving journey, giving people the opportunity to accumulate intergenerational wealth – as well as fulfilling the human need to have a home of one's own – is likely to pay dividends in the future for society as a whole.
Khaleej Times
25-06-2025
- Business
- Khaleej Times
Dubai partition flats crackdown: Residents move to other emirates despite longer commute
After a crackdown on illegal room partitions across Dubai, many residents have found themselves without a place to stay. Some are now moving to Sharjah and other nearby emirates, where rents are lower, but commutes are longer and daily life has become much harder. Shared partitioned flats were never ideal for many, but they were practical considering finances. The rooms were often just big enough for a bed and a fan, yet close to work, public transport, and a community to support them. That has now been replaced by long commutes, shared washrooms, and the challenge of starting over. 'I save on rent, but I am more tired now' Mohammed Irfan, who works at a restaurant in JLT, was paying Dh1,400 per month for a partitioned room in Al Rigga. After authorities raided the building a week ago, he moved to Sharjah's Abu Shagara area, where he now pays Dh700 for a space accommodating three in a room. 'I do save money, but I now travel for over 90 minutes each way just to reach my workplace in JLT,' he said. 'Earlier, I could walk to the metro in 3 minutes. Now, I take a bus, then the metro, and sometimes still need a taxi from the station.' Stay up to date with the latest news. Follow KT on WhatsApp Channels. Despite the inconvenience, Irfan said he had no choice. 'Everything was easy in Dubai. The grocery, pharmacy, and metro were all downstairs. Now, as I am not familiar with the area, it feels complicated.' He now wakes up early due to the extra commute time. 'By the time I get to work at 10:30 am, I have already spent over an hour on the road.' 'We had to split, it was too crowded' Mary, a saleswoman at Al Ghurair Mall in Deira, lived with 13 others in a 2BHK flat in Muraqqabat and had to find new accommodation after the crackdown last week. 'We were paying around Dh800 each for bedspace, with 12 of us in one room. After the raid, we had to split,' said Mary. 'Now, my other flatmates and I are moving to Al Nahda in Dubai, paying Dh1,000 in a shared room with three others. This place has fewer people in the room, but the rent and travel will surely increase.' 'No privacy, but this is all I can afford' Rupa, a salon worker, used to live in a shared space where she paid Dh600. Currently staying with a friend, she is scrambling to find an affordable place to live. She is now considering moving to a shared accommodation in Al Nahda, Sharjah, for Dh850 for a bed space. 'My commute time is surely going to increase. The salon was just a one-minute walk from my accommodation,' said Rupa. 'I may have to consider finding another workplace if it becomes too troublesome.' Rupa mentioned that she's still grateful to have a roof over her head. 'I don't earn much. This is all I can manage.' 'My daughter's school is far now' Farida, a single mother, had to move with her teenage daughter to Sharjah after being asked to vacate her previous flat in Deira. 'We were paying Dh1,500 in Dubai for a small partition. Now I pay Dh1,200 in Sharjah for a significantly bigger partition, but the school is far,' she said. 'The vacations are going to start soon, so the stress is less. But once school starts, I will have to think about an alternative for the school commute or consider changing her school.' Call for affordable options Javed, who works as a salesman in a mall, moved to a shared villa in Sharjah after being evicted from his partitioned room in Deira. He now pays Dh500 per bed space, sharing the room with 8 others. 'The reason for moving to Sharjah is that the crackdown will continue even if I look for another accommodation in Dubai,' he said. 'Many of us live hand to mouth. We don't have Dh2,000 to spend on rent. There should be some proper, legal low-cost housing for people like us.' Moved into a storeroom Shahid, a delivery rider, said he is currently staying in a converted storeroom in a shared flat in Sharjah. He pays Dh450 for the space. 'I had no option. It has no ventilation, and the fan doesn't work properly. I had to get a cooler for myself, but that too fails to keep me cool in this summer heat,' he said. 'But I am outside all day delivering, so I only come to sleep.'
