I’m Laila Janik, CEO of MYS Real Estate, and stories like these are why I love what I do. This is a composite story based on several clients, but every detail reflects real experiences of expats who took the leap.
Year 1: Sana arrives in Dubai in 2013, mid-20s, and rents a one-bedroom in Bur Dubai for AED 60k/year. She loves the city but realizes after a year: that rent money is gone forever. She resolves to buy something of her own. She doesn’t have a huge income, so she starts saving diligently and keeping an eye on property prices.
Year 3: By 2015, prices have softened a bit after the 2014 peak. Opportunity knocks. Sana, with ~AED 200k saved, buys a one-bedroom in Jumeirah Lakes Towers (JLT) for AED 800k (she takes a 75% mortgage). It’s a big step – now she’s an owner! She moves in, thrilled that instead of paying someone else, she’s paying off her own asset.
Year 5: Fast forward two years. Sana gets married. Her husband’s job provides a housing allowance and they move into a company-provided villa in Arabian Ranches. What about the JLT flat? They decide to rent it out rather than sell (it’s a solid property and rents are stable).
They find a tenant at AED 75k/year gogold.realestate, which not only covers the mortgage (~AED 50k/yr) but leaves a surplus to cover maintenance and still put a bit in her pocket. Now Sana experiences the joy of rental income – her flat is paying for itself and then some. She’s essentially living in the villa rent-free while her tenant’s rent covers her apartment’s costs. This is a turning point: she’s gone from tenant to landlord in just a few years.Year 6-7: The rental income and their combined salaries allow them to save more. By 2019, they have enough for another down payment. Sana spots a pre-launch of a new tower in Dubai Hills Estate, a growing area. She recalls how buying during soft market gave her a good deal last time, and now market is recovering. They purchase a one-bedroom off-plan for AED 1M with a 2-year payment plan. It will hand over in 2021 – aligning with their long-term plan.
Meanwhile, her JLT tenant renews and rents in Dubai start rising again globalpropertyguide.com – great news.
Year 8: 2021 comes. The Dubai Hills one-bedroom is completed. It’s modern, near a new mall and park – very attractive to tenants. Within a month, it’s rented at AED 80k/year (the area is in high demand). Now Sana has two rental incomes (JLT and Dubai Hills) streaming in. She feels a sense of “I can really do this!” With the market on an upswing, she and her husband decide to step on the gas.
Year 9: They sell the JLT apartment, which has appreciated from AED 800k to about AED 1.1M (market up plus paid down mortgage). With those funds, plus savings, they buy two more one-bed apartments – one in Business Bay (resale deal from a motivated seller) and one in the upcoming Beachfront area (off-plan). They essentially traded one older unit for two newer ones, expanding their portfolio. Business Bay one is immediately rented at AED 85k gogold.realestate; the Beachfront will be ready in 2023.
Year 10 (Today): Sana now owns three properties generating income (Dubai Hills, Business Bay, and her newly delivered Beachfront which should fetch maybe AED 100k due to prime seaside location). She’s considering moving into one of them (Beachfront) and renting out the company-provided villa instead (monetizing the perk). The combined equity in her properties has grown substantially (thanks to price increases post-Expo globalpropertyguide.com ). Her rental income covers mortgages and provides a healthy profit. At 35, she has essentially built a mini real estate portfolio from scratch within a decade. Sana’s story shows how an expat can go from paying rent to becoming a multiple-property owner:
● She leveraged Dubai’s opportunities (like soft market periods and off-plan deals).
● Reinvested proceeds (selling one property to buy more).
● Balanced between personal housing needs and investment (living in provided housing while renting out her own, then planning to reverse that when strategic).
● All while continuing her normal career – real estate became a side wealth-builder that will eventually secure her retirement or kids’ education, etc.For her, the turning point was that first purchase in JLT. It gave her equity growth and confidence. Everything snowballed from there.
Do you see a bit of yourself in Sana’s early years? Perhaps you’re renting and wondering if you can step into ownership, or you’ve bought one place and think about another. Wherever you are on that journey, I’m here to help craft your strategy. Message me and let’s chat about your 10-year plan. Maybe in a decade, you’ll be the one with three properties and a story to tell. Your transformation from tenant to landlord can start with one smart decision today. I’m here to guide you every step of the way, turning your Dubai story into one of wealth-building and success. 🏘🚀
