Latest news with #KhalidAlShaibani
Dubai Eye
03-07-2025
- Business
- Dubai Eye
Dubai launches initiative to assist first-time home buyers
Dubai has launched a programme for first-time home buyers, aiming to make homeownership more accessible and affordable by facilitating priority access to new launches, preferential pricing and tailored mortgage solutions. The First-Time Home Buyer Programme is applicable to properties less than AED 5 million and accessible to Emirati and expatriates of all nationalities and income levels, and to applicants aged 18 and above who are residents of the UAE. Khalid Al Shaibani, Director of Rental Affairs Department at Dubai Land Department, told Dubai Eye 103.8's The Agenda that the programme offers a flexible payment plan, either from the developer or special interest rates through banks. He added that the 4 per cent fee charged by the mainland department could be paid in interest-free installments over two years, with the aim to attract 5,000 new buyers this year. Leading developers have reportedly already committed to the programme, promising to support first-time home buyers through priority access to units in new off-plan launches, and enhanced commercial terms, including preferential pricing. Participating banks will provide "tailored mortgage products designed specifically for eligible buyers," as the programme reportedly continues to onboard new partners to increase the choice for buyers. Helal Saeed Almarri, Director General of the Dubai Department of Economy and Tourism (DET), said the initiative marks a "significant milestone" for the real estate sector. It "represents a powerful economic lever - stimulating long-term demand, driving liquidity into the real estate ecosystem and accelerating the sector's contribution to GDP in line with the Dubai Economic Agenda, D33. By lowering entry barriers to homeownership for Emiratis and expatriates alike, we are enhancing investor confidence, increasing market absorption rates, and reinforcing Dubai's global positioning as a city where personal aspirations and business ambitions converge," Almarri said. 'In a global climate where housing accessibility is a structural challenge, Dubai is offering a model of sustainable urban development - one that supports talent retention, fosters community cohesion, and enhances the city's competitiveness as a place to live, work, and invest."
Time of India
02-07-2025
- Business
- Time of India
Best time to buy home in Dubai? Govt launches exclusive incentives for 1st time resident buyers
Dubai has rolled out a new initiative to help residents buy their first home, offering a set of exclusive benefits aimed at making homeownership more accessible. The programme, announced on Wednesday, targets first-time buyers and is part of a broader effort to strengthen the real estate market and encourage long-term residency. Tired of too many ads? go ad free now The initiative, a joint effort by the Dubai Land Department (DLD) and the Department of Economy and Tourism, is being introduced in partnership with more than 13 major real estate developers, five banks, and several strategic partners. It forms a core part of Dubai's long-term D33 strategy, aimed at making the city more attractive for residents and investors. Key Features of the First-Time Buyer Programme The programme targets UAE residents over the age of 18 with a valid Emirates ID, who have never owned a home before. It allows them to purchase residential property valued under Dh5 million, with no restrictions on leasing or resale. Exclusive benefits include: Priority access to new project launches Preferential pricing from participating developers Flexible payment plans Interest-free registration fee Customised property matching based on buyer preferences Direct engagement with developers and banks Residents can register through the Dubai Land Department website or the Dubai REST app. In an interview with a local media outlet, Khalid Al Shaibani, Director of the Rental Affairs Department at DLD, noted that residents simply need to state their preference, apartment or villa, budget, and communication method. Once registered, their applications will be routed directly to developers, and financial institutions will be notified of the interest as well. This, he explained, ensures a 'direct matchmaking' process between buyers, developers, and banks. For those who prefer not to register online, brokers will still have access to the programme, ensuring it reaches a wider pool of potential homeowners. Broad Industry Support and Strategic Objectives The programme has drawn strong support from key players in Dubai's real estate and banking sectors. Participating developers include: Emaar Danube Properties Azizi Wasl Dubai Properties Ellington Beyond Nakheel Damac Majid Al Futtaim Partnering banks are: Emirates NBD Emirates Islamic Commercial Bank of Dubai The real estate listing platforms Dubizzle, Property Finder, and Bayut are also collaborating and helping facilitate listings and transactions. Tired of too many ads? go ad free now Beyond its practical benefits, the programme serves as a strategic lever in Dubai's broader economic planning. It is closely aligned with the D33 strategy, a long-term roadmap to double the size of the city's economy by 2033, and part of a drive to reach Dh1 trillion in real estate transactions. Speaking to local media, Majid Al Marri, CEO of the Real Estate Registration Sector at DLD, shared that Dubai is already attracting 10,000 new investors each month. The hope is that these figures will rise further, supported by initiatives like this, which bridge public policy with private sector execution. Homeownership as a Social Anchor, and a Step Toward 2040 For years, Dubai has attracted people with ambition, but not always permanence. Renting was the norm, even for long-term residents. That may be changing. With its new first-time buyer initiative, the city is encouraging residents to go from tenants to homeowners. It's not just a financial shift, but a social one too. Hadi Badri, CEO of the Dubai Economic Development Corporation, described the move as a way to foster stability and belonging, calling homeownership a foundation for building strong, lasting communities, key ingredients in any livable city. The programme, he said, offers not just financial opportunity but emotional investment, giving residents a chance to call Dubai home in a deeper, more permanent way. 'To many residents who've dreamed of owning their home here in Dubai, their time is now,' he said. Looking ahead, the initiative aligns with Dubai's long-term goal of growing its population to 5.8 million by 2040. For that vision to succeed, residents must see the city not just as a place to work, but as a place to live and thrive. As Mohamad Kaswani, Managing Director of Mortgage Finder, noted, the programme is a 'powerful enabler' of that future, helping Dubai evolve into a city where growth is matched by inclusivity, and where long-term residency feels not only possible, but encouraged.
What's On
02-07-2025
- Business
- What's On
New initiative launched to help first-time property buyers in Dubai - What's On
It's now a lot easier for residents to get on the property ladder in Dubai. A brand-new initiative, announced today, aims to help first-time buyers own a home in the city, with a bunch of exclusive perks thrown in. Open to all UAE residents over the age of 18 who've never owned a property before, the programme is part of a wider push to boost real estate investment and improve quality of life. The scheme comes from the Dubai Land Department (DLD) and the Department of Economy and Tourism, working together with over 13 property developers, five banks, and several key partners. It ties into the city's long-term D33 strategy, which focuses on growing Dubai's economy and making it an even better place to live. Among the benefits for registered users are: Priority access to new real estate project launches Preferential pricing on new residential units Attractive and flexible mortgage options Interest-free payment of registration fees Majid Al Marri, CEO of the Real Estate Registration Sector at DLD, spoke to Khaleej Times and said that around 10,000 new investors are moving to Dubai every month. 'We hope to increase these numbers through this programme'. According to Khalid Al Shaibani, Director of the Rental Affairs Department at DLD, the programme is designed to be simple, fair, and accessible. You just need to have a valid Emirates ID and be buying your first property in Dubai under Dhs5 million. There are no restrictions on renting out or selling the property later on. *Here are some of the best places to buy property in Dubai* To join, you can register through the DLD website or the Dubai REST app. You'll be asked to share your preferences, whether you want a villa or apartment, your budget, and how you'd like to be contacted (phone or email). Once you're in, developers will reach out directly with offers, and banks will also get notified about your interest. There's even an option to sign up through a broker if you'd rather not do it online. Al Shaibani confirmed that the registration link is live now. 'It's really about making it easy for people to take that first step into property ownership,' he said. 'With flexible payment plans and no-interest registration fees, it's a great time to buy.' So if you've been dreaming of calling a place in Dubai your own, this could be the perfect moment to make it happen. > Sign up for FREE to get exclusive updates that you are interested in
Khaleej Times
02-07-2025
- Business
- Khaleej Times
Dubai announces new incentives for residents buying property for the first time
Dubai announced a new initiative on Wednesday to make it easier for residents to purchase their first home, offering exclusive benefits. Aimed at encouraging home ownership and boosting investment in real estate, the programme is open to UAE residents who are first-time property buyers. The programme offers eligible buyers priority access to new launches, preferential pricing and attractive mortgage solutions. Jointly by the Dubai Land Department and the Department of Economy and Tourism, the programme was launched along with more than 13 developers, five banks and strategic partners. This reflects Dubai's vision, promoting residents to own their first home, which will improve their quality of life, and is in line with the D33 strategy. Majid Al Marri, CEO of the Real Estate Registration Sector at Dubai Land Department, said 10,000 new investors are coming to Dubai every month. 'We hope to increase these numbers through this programme.' Khalid Al Shaibani, director of Rental Affairs Department at Dubai Land Department, said this is a pioneer programme and strategic and social initiatives enabling people to own their first time based on fair criteria, clear conditions and easy options in a safe way. He said the programme is open to every resident of the UAE above 18 years who has a valid Emirates ID and has not owned a home before. They can own an apartment for less than Dh5 million. He said there are no restrictions on leasing or selling the unit. 'In terms of benefits, people who register through the DLD website and the Dubai REST app will have access to new projects listed by developers, and preferential prices for new units from developers. There will be a flexible payment plan, and you can pay the registration fee without any interest,' said Al Shaibani. He added that the link is active for registration. "People need to enter their preferences, whether they want to buy a villa or apartment, decide their budget and also how they want developers to contact them — through email or phone. All the details will go directly to the developer only. Upon registration, people will get a notification that their application has been accepted, and banks will also come to know about the interest," he said. He added that those people who don't want to register can do so through brokers.
