Latest news with #FirstTimeHomeBuyer
Arabian Business
a day ago
- Business
- Arabian Business
Dubai real estate: Property giant Binghatti allocates 10% of units for first-time buyers
Binghatti Holding will participate in the First-Time Home Buyer (FTHB) Programme, a government initiative launched by the 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. 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.
Zawya
a day ago
- Business
- Zawya
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 buy ers The Company is also offering a wide range of discounts and incentives to eligible participants Dubai, UAE: 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.
Al Bawaba
2 days ago
- Business
- Al Bawaba
Azizi Developments signs MoU with DLD and DET to support First-Time Home Buyer Program
Azizi Developments, a leading private developer in the UAE, has announced the signing of a Memorandum of Understanding (MoU) with the Dubai Land Department (DLD) and the Dubai Department of Economy and Tourism (DET). This strategic collaboration supports the emirate's new First-Time Home Buyer Program - an initiative aimed at facilitating more accessible property ownership and expanding access to real estate investment across Dubai. The initiative aligns with the UAE's Year of Community, reinforcing shared responsibility and social part of this agreement, Azizi Developments will provide exclusive offers to first-time buyers through a dedicated platform managed by DLD and DET. Azizi Developments will channel direct sales to interested buyers at favorable prices, made possible by reallocating brokerage commission margins - further enhancing affordability and Mirwais Azizi, Founder & Chairman of Azizi Developments, said: 'We are pleased to partner with Dubai's leading government entities on this forward-thinking initiative that aligns with our mission to empower new buyers and contribute to Dubai's sustainable economic and urban development. By improving accessibility and introducing tailored pricing structures, we are helping to transform more residents into homeowners while supporting the growth of the real estate sector."The programme aligns with the Dubai Real Estate Sector Strategy 2033, which seeks to double the real estate sector's GDP contribution to AED 73 billion and increase homeownership rates to 33%. By providing structured support to first-time buyers, the program reinforces investor confidence and economic resilience. Converting renters into homeowners boosts economic stability by encouraging long-term financial planning and official launch event for the First-Time Home Buyer Program took place on Wednesday, 2 July 2025, at the Dubai Land Department. The program is supported by a joint promotional campaign to drive awareness and engagement. Azizi Developments' Sales Gallery can be visited on the 13th floor of the Conrad Hotel on Sheikh Zayed Road. © 2000 - 2025 Al Bawaba ( Signal PressWire is the world's largest independent Middle East PR distribution service.
Al Bawaba
2 days ago
- Business
- Al Bawaba
Dubai Launches Landmark Initiative Further Enabling First-Time Homeownership
In a landmark initiative set to transform Dubai's real estate landscape, Dubai Land Department (DLD) and the Dubai Department of Economy and Tourism (DET) have launched the First-Time Home Buyer Programme. Designed to make homeownership more accessible and financially affordable for Emiratis and expatriates, the programme offers priority access to new launches, preferential pricing, and tailored mortgage solutions. It aligns with the Dubai Real Estate Strategy 2033 objectives to raise homeownership rates and double the sector's contribution to Dubai's First-Time Home Buyer Programme was officially launched on 2 July during a press conference at Dubai Land Department attended by Majid Al Marri, CEO of Real Estate Registration Sector at Dubai Land Department, and Hadi Badri, CEO of the Dubai Economic Development Corporation (DEDC), the economic development arm of DET, as well as other senior officials from DLD, DET, and key strategic partners, including prominent banks and real estate developers. Supporting the Dubai Economic Agenda D33, and Dubai Real Estate Strategy 2033, which aims to double the size of Dubai's economy, the initiative further contributes to the goals of UAE's Year of Community by strengthening social cohesion and economic resilience. The First-Time Home Buyer programme showcases the power of collaborative partnerships between Dubai's public and private sectors, which has become a defining characteristic of the city's economic strategy. Leading developers already committed to the programme include Azizi Developments, Beyond developments, Binghatti Holding, DAMAC Properties, Danube properties, Dubai Properties, Ellington Properties, Emaar Properties, Majid Al Futtaim Group, Meraas, Nakheel, Palma Holding, and Wasl. These partners are offering unprecedented support to first-time home buyers through priority access to units in new off-plan launches, and enhanced commercial terms, including preferential pricing on units up to AED 5 banks include Commercial Bank of Dubai, Dubai Islamic Bank, Emirates NBD, Emirates Islamic and Mashreq bank will provide tailored mortgage products designed specifically for eligible buyers. The programme will continue to onboard new partners post the launch to increase the choice for first time home buyers. Created for all nationalities and income levels, the programme is open to applicants aged 18 and above who are residents of the UAE, and who do not currently own a freehold residential property in Excellency Helal Saeed Almarri, Director General of the Dubai Department of Economy and Tourism (DET), said: 'The launch of the First-Time Home Buyer Programme is a testament to the visionary leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, marking a significant milestone for the real estate sector and highlighting our commitment to broad-based growth.'This initiative 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.'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. His Excellency Omar Bu Shehab, Director General of Dubai Land Department (DLD), said: 'The First-Time Home Buyer programme embodies Dubai's strategic vision for a more inclusive, transparent, and accessible real estate market. By easing entry into homeownership, we empower individuals and families to invest in their futures while supporting the Dubai Real Estate Strategy 2033's broader objectives and Dubai Economic Agenda D33. This initiative is a key driver of market resilience and positions Dubai as a global benchmark for sustainable urban development.'
Zawya
2 days ago
- Business
- Zawya
Azizi Developments signs MoU with DLD and DET to support First-Time Home Buyer Program
Dubai, UAE: Azizi Developments, a leading private developer in the UAE, has announced the signing of a Memorandum of Understanding (MoU) with the Dubai Land Department (DLD) and the Dubai Department of Economy and Tourism (DET). This strategic collaboration supports the emirate's new First-Time Home Buyer Program - an initiative aimed at facilitating more accessible property ownership and expanding access to real estate investment across Dubai. The initiative aligns with the UAE's Year of Community, reinforcing shared responsibility and social cohesion. As part of this agreement, Azizi Developments will provide exclusive offers to first-time buyers through a dedicated platform managed by DLD and DET. Azizi Developments will channel direct sales to interested buyers at favorable prices, made possible by reallocating brokerage commission margins - further enhancing affordability and value. Mr. Mirwais Azizi, Founder & Chairman of Azizi Developments, said: 'We are pleased to partner with Dubai's leading government entities on this forward-thinking initiative that aligns with our mission to empower new buyers and contribute to Dubai's sustainable economic and urban development. By improving accessibility and introducing tailored pricing structures, we are helping to transform more residents into homeowners while supporting the growth of the real estate sector." The programme aligns with the Dubai Real Estate Sector Strategy 2033, which seeks to double the real estate sector's GDP contribution to AED 73 billion and increase homeownership rates to 33%. By providing structured support to first-time buyers, the program reinforces investor confidence and economic resilience. Converting renters into homeowners boosts economic stability by encouraging long-term financial planning and asset-building. The official launch event for the First-Time Home Buyer Program took place on Wednesday, 2 July 2025, at the Dubai Land Department. The program is supported by a joint promotional campaign to drive awareness and engagement. Azizi Developments' Sales Gallery can be visited on the 13th floor of the Conrad Hotel on Sheikh Zayed Road. About Azizi Developments Azizi Developments is a leading developer based in Dubai, UAE. With more than 45,000 homes successfully delivered to local and international investors and end users of over 100 nationalities, the developer prides itself on its extensive portfolio of modern luxury developments across Dubai's most sought-after residential and commercial destinations, its construction-driven approach, and its commitment to transparency and customer centricity. The developer makes it its international mission to develop lifestyles and enrich the lives of its residents with a focus on catalyzing the vision and development of the markets that it operates in. Azizi currently has around 150,000 units under construction, valued at several tens of billions of US dollars. The company is renowned for developing the world's second tallest skyscraper, Burj Azizi, as well as the master planned communities of Azizi Riviera, Azizi Venice, and Azizi Milan, among various other world-class projects across MBR City, Palm Jumeirah, Sheikh Zayed Road, Dubai Healthcare City, Dubai South, Dubailand, Al Furjan, Studio City, Sports City and Downtown Jebel Ali.
