Dubai launches scheme for new home buyers

PROPERTIES BELOW DH5M ELIGIBLE UNDER NEW INITIATIVE

- BY MANOJ NAIR

Dubai has launched a new initiative to enable residents in the UAE to own their first homes in the emirate.

Those signing up will get 'preferential pricing and access to new launches', along with more accessible mortgage support.

The properties have to be under Dh5 million to be eligible for the preferential treatment. These home owners will get to have one of the lowest financing rates to buy the properties.

Mortgage tenors will extend up to 18 years. The properties available through the programme will have 'better rates than what's available in the market'.

For both locals and expats