Binghatti Partners With DLD And DET To Support First-Time Home Buyers In Dubai
Binghatti Holding Ltd, luxury real estate developer in the UAE, is participating in the First-Time Home Buyer (FTHB) Programme by offering a range of benefits to first-time buyers in the UAE. This initiative, introduced by the Dubai Land Department (DLD) and the Dubai Department of Economy and Tourism (DET), aims to assist Emiratis and UAE expatriates in acquiring their first homes by 2025.
The FTHB Programme is designed to boost the accessibility of real estate ownership in Dubai, a move that Binghatti Holding is set to significantly contribute toward. By reserving at least 10% of its new and existing residential properties, priced below AED 5 million, for first-time purchasers, Binghatti is playing a crucial role in supporting this initiative.
These properties, located in prime residential areas including Downtown, Business Bay, and Jumeirah Village Circle, will be offered to eligible participants ahead of their public release, ensuring early access for first-time homebuyers.
Incentives for First-Time Buyers
Binghatti plans to offer exclusive benefits, including significant property discounts and reduced service fees, specifically curated for first-time purchasers, both Emiratis and expatriates. Katralnada BinGhatti, CEO of Binghatti Holding, expressed pride in joining forces with the DLD and DET on this visionary project. "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 emerges as a critical development amidst a buoyant phase in Dubai's real estate sector. The first quarter of 2025 witnessed a notable 29% increase in transaction values over the previous year, amounting to AED 114 billion. This growth is complemented by a 23% rise in property sales, with villa and townhouse transactions surging by 65%. These statistics highlight a growing trend towards homeownership, away from renting, among UAE residents.
Binghatti is expanding its footprint across Dubai with approximately 20,000 units under development across 30 projects. These projects are strategically located in coveted areas such as Al Jaddaf, Dubai Science Park, and Sports City. Notably, Binghatti's luxury branded residences, developed in collaboration with high-end names like Bugatti and Mercedes-Benz, have attracted global celebrities, including Neymar Junior and Andrea Bocelli, attesting to the developer's prestige.
Recently, Binghatti unveiled the 'Aquarise Residences by Binghatti’ in Business Bay, featuring over 1,500 units. Moreover, the acquisition of over 8 million square feet of freehold land in Nad Al Sheba 1 marks a significant milestone. This land, situated in the prestigious Meydan district, is earmarked for Binghatti's first extensive master-planned residential community, with a development value exceeding AED 25 billion.
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