18 hours ago
Binghatti partners with Dubai Land Department and the Dubai Department of Economy and Tourism to prioritise access for First-Time Home Buyers
Binghatti to allocate 10% of newly launched and existing units under AED 5 million to first-time buyers
The Company is also offering a wide range of discounts and incentives to eligible participants
Dubai, UAE,July 2025- Binghatti Holding Ltd ('Binghatti Holding'), one of the UAE's leading luxury real estate developers, will participate in the newly launched First-Time Home Buyer (FTHB) Programme, a strategic initiative launched by Dubai Land Department (DLD) and the Dubai Department of Economy and Tourism (DET) to enable Emiratis and UAE expats to become homeowners for the first time in 2025.
As one of 13 leading property developers selected to support the FTHB Programme, Binghatti will allocate a minimum of 10% of its newly launched and existing residential units, priced under AED 5 million, exclusively for first-time buyers, underscoring the company's commitment to enhancing accessibility to homeownership for residents across all income levels and reinforcing Dubai's vision of inclusive and sustainable urban development. To ensure early access for eligible participants, the units Binghatti will allocate to the FTHB Programme will be made available ahead of public launches.
In addition to prioritised access, Binghatti will offer exclusive discounts on selected properties to first-time buyers, with enhanced incentives tailored for Emiratis and expats, as well as discounted administrative service fees.
Katralnada BinGhatti, CEO of Binghatti Holding Ltd., commented:
'We are honoured to be part of 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.'
The FTHB Programme comes at a pivotal time for Dubai's real estate market. In the first quarter of 2025, the Dubai Land Department reported a 29% year-on-year increase in total transaction value, reaching AED 114 billion. The volume of property sales grew by 23%, with a notable 65% surge in villa and townhouse transactions, reflecting a growing 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 prime residential areas across Dubai, including Downtown, Business Bay, Jumeirah Village Circle, Al Jaddaf, Dubai Science Park, Dubai Production City and Sports City. Binghatti's flagship 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 sought-after Meydan district, and is set to be used for what would be the company's first large-scale master-planned residential community in the Emirate.
About Binghatti Holding Ltd.:
Binghatti Holding Ltd. is a renowned Emirati brand in the real estate development sector, holding a leading position with a portfolio exceeding 80 projects valued at over AED 50 billion. Binghatti Holding is led by Chairman Muhammad BinGhatti, whose innovative vision aims to deliver luxurious projects that reflect refined artistic taste and high standards in design and quality.
Binghatti Holding has successfully delivered over 11,600 residential units over the past 18 months, achieving remarkable milestones in collaboration with global brands such as Bugatti, Mercedes-Benz, and Jacob & Co. Binghatti Holding continues to expand its real estate portfolio to meet the growing market demands, focusing on delivering residential projects that elevate the level of luxury in Dubai.
