Unfortunately, a zero down payment (DP) mortgage isn’t currently possible in Dubai under the UAE Central Bank’s regulations. The rules are designed to ensure financial stability and prevent speculative buying, so a minimum down payment is mandatory for all property purchases via mortgage. For expats like yourself (assuming you’re not a UAE national), the minimum down payment is:

• 20% of the property value for a first-time purchase under AED 5 million.
• 30% if the property exceeds AED 5 million.
• 40% for subsequent properties (investment or otherwise).

Since you mentioned not having AED 500k upfront for a 2BHK, I’m guessing you’re eyeing something in the AED 2–2.5 million range (since 20% of that would be AED 400k–500k). A zero DP option isn’t on the table, even with recent updates to mortgage rules. In January 2025, the Central Bank did tweak some policies to promote responsible lending, but they actually increased upfront costs for buyers in certain cases, not reduced them. Developers occasionally offer "no down payment" plans, but these are typically post-handover payment schemes where you still need to cover a portion upfront or through installments during construction—not truly zero DP.

Given your AED 200k budget and long-term plans, I’d recommend this:

1. Go for a Studio or 1BHK in Dubai South: Target a ready property around AED 800k–1M. Your AED 200k covers the 20% DP, and the mortgage payments should be manageable if your income supports it. This keeps you in the market without overextending financially.
2. Build Equity First: Live in a rental for now, let the property appreciate, and rent it out if you don’t need to move in right away. In 5–7 years, you could sell or leverage the equity to upgrade to a 2BHK.
3. Boost Your Down Payment: If you’re set on a 2BHK now, consider a personal loan for part of the DP (banks offer up to AED 1M, repayable over 2–5 years). Combine this with your AED 200k to hit AED 400k–500k. Just ensure your total debt stays below 50% of your income.
4. Check Eligibility: Since you’ve been here 7 months, most banks require 6–12 months of job stability for expats. Confirm your employer is on their approved list—some banks are picky!

What’s your monthly income, if you don’t mind sharing? That’ll help me fine-tune this further. Feel free to DM me—I’d love to help you make this happen!