Dear reader,
The overarching sentiment among most people I interview for finance stories is how they plan to invest in property in the UAE. It's either one of their short-term financial goals, or they have already profited from previous real estate investments.
Nargiz Noimann, profiled in the most recent My Salary feature, plans to buy a property in Dubai and also move her investments from Russia and the US to the UAE.
With a monthly income of Dh80,000 from her health technology company, the Russian also intends to own a portfolio of three to four rental properties to help generate consistent passive income over the next 10 years.
Similarly, Christoph Koster, chief executive of digital Islamic community bank ruya, who was featured in our Money & Me series, revealed that his best investment has been a property he purchased in Abu Dhabi.
To democratise property investment, the Dubai Land Department now allows investors to pay as little as Dh2,000 to participate in the emirate's tokenised real estate project. This will offer them shares in ready-to-own properties in Dubai.
Real estate tokenisation allows investors to acquire a portion of a property without fully purchasing it.
What is your experience of buying real estate in the UAE? Drop us an email to pf@thenationalnews.com.
Have a great day!
My Dubai Salary: ‘I earn up to Dh80,000 a month to support my eight children’
Nargiz Noimann, 53, a Russian resident in the UAE, has been saving diligently since the age of 30 to support her big family.
Ms Noimann, who has eight children and three grandchildren, spends most of her monthly income on her children’s education and to fulfil family needs.
She is the founder and chief executive of health technology company X Technology, which offers virtual reality and artificial intelligence-driven solutions for cancer recovery, dementia care and emotional rehabilitation. The solutions are being trialled in hospitals and wellness centres across the UAE.
Ms Noimann has lived in the Emirates for the past two years.
“I plan to move all my assets to Dubai soon because I believe this is where my business will succeed the most and it offers the most potential for growth,” she says.
In case you missed it …
Investors can now buy a share of Dubai property for Dh2,000
It might be time for investors to look past the US stock market
Should you hold, buy or sell during a market downturn?
