Source: Zawya
Dubai, UAE – UAE-based luxury developer Binghatti Holding Ltd has partnered with Dubai Land Department (DLD) and Dubai Department of Economy and Tourism (DET) to support the newly launched First-Time Home Buyer (FTHB) Programme which is designed to enable UAE residents (either Emiratis or expats) to buy their first home in Dubai.
According to the program, Binghatti will reserve 10% of its available units (recent launches and existing ones) having property prices below AED 5 million for the first-time buyer. Homes that will be reserved will go out to eligible first time buyers before being offered to the public.
Discounts and Special Offers
In addition, Binghatti will have special discounts on selected properties and reduced admin fees for first-time buyers. There will also be additional benefits for Emiratis and expats, putting home ownership in Dubai within reach for more individuals.
Katralnada BinGhatti, CEO of Binghatti Holding, said: “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.”
Increasing Real Estate Market
This programme launches at a time when the Dubai market is in its growth boom. In the first three months of 2025, property transactions had been worth AED 114 billion, an increase of 29% on the previous year. Sales of villas and townhouses increased by 65%, reflecting a growing trend of buyers over renters.
Binghatti’s Projects
Currently, Binghatti has around 30 projects spanning across many areas including Downtown, Business Bay, Jumeirah Village Circle, Al Jaddaf, and Sports City, with about 20,000 homes under development. They have recently become known for their luxury buildings developed in partnership with large international brands, including Bugatti, Mercedes-Benz, and Jacob & Co, and purchased by international celebrities such as football star Neymar Jr. and singer Andrea Bocelli.
The company launched Aquarise Residences in Business Bay in May, which comprises over 1,500 units. Binghatti also placed an announcement claiming they have purchased over 8 million square feet of land in Nad Al Sheba 1, located beside Meydan. The land will be used to build Binghatti’s first large-scale residential community valued at over AED 25 billion.
About Binghatti
Binghatti is a reputable real estate developer in the UAE, having successfully launched more than 80 projects worth more than AED 50 billion. In the last 18 months, Binghatti has handed over more than 11,600 homes. Binghatti is led by Chairman Muhammad BinGhatti and specializes in luxury design and construction.
