Some Women in Dubai choose to live together while others opt to rent out properties and share the income. When working professional Sarah aspired to buy a two-bedroom apartment in Downtown Dubai, she realized she couldn’t afford it alone. Therefore, she teamed up with her friend Nadia, and together, they managed to acquire a prime property. Both women, in their 30s, now cohabit and share the mortgage and maintenance expenses.
This scenario reflects a growing trend where women pool resources with friends and family to invest in property in the UAE. Some choose to live together, while others rent out the property and split the income. Zarah Evans, Managing Partner of Exclusive Links Real Estate, explains, “Economically, pooling resources makes home ownership more accessible and allows for entry into the market sooner. Socially, women value independence and strong bonds with friends, making shared ownership appealing. Gender dynamics also play a role, as women often discuss financial plans and include friends in their decisions, fostering inclusion and togetherness.” She notes that this trend underscores collaborative living and mutual support among women.
Inclusive Market
Jeff Raju, CEO of Manifest Real Estate, emphasizes the importance of nurturing this trend in the UAE. “Encouraging these trends is crucial for fostering a more inclusive and dynamic real estate market. My female clients often collaborate with family members, friends, or business partners to pool their financial resources, enabling them to invest in higher-value properties or diversify their investments.” He adds that women benefit from shared financial responsibility, diverse expertise, and combined investment power when they join forces to purchase properties.
Lakshmi (name changed for privacy) bought her first property with her cousin three years ago. “At the time, we were buying smaller apartments and studios,” she recalls. “This year, we took the plunge and invested in an off-plan semi-detached four-bedroom villa for Dh3.4 million in Dubai South.” The 25-year-old Indian expat credits her partnership with her cousin for significantly expanding her portfolio. “If I had been investing alone, I would never be able to afford the places I did. With the returns on the smaller investments, we saved enough to make this big investment. We haven’t yet decided whether to live there or rent it out, but most likely, we’ll rent it out.”
Advice for Investors
Despite the positives, Evans advises women to have clear agreements and legal contracts when buying property together. “Discuss and document each person’s financial contributions, responsibilities, and plans for future property management or sale. Open and honest communication is key to maintaining a healthy partnership.” She also points out the possibility of buying property in joint names in Dubai, which buyers should leverage. “You can also define the percentages held by each investor. This breakdown should be specified and will be stated on the title deed issued by the Dubai Land Department upon completion of the transfer. Typically, the percentage share of ownership reflects the ratio of financial investment by each party.”
Future property sales should involve all parties. “If one or more joint owners decide to sell their shares in the property, all joint owners must consent to the sale. To address this, consider establishing a collective investment agreement to outline the process for selling shares and ensure all owners are protected and in agreement.”
Emerging Trend
The trend of women partnering to buy property is relatively new, gaining momentum over the past five to seven years. Evans notes that the pandemic further highlighted the benefits of secure housing and stable investments, accelerating this trend. Additionally, as rental prices continue to rise in Dubai, many tenants are opting to buy instead. “If friends can rent together, why not buy together?” she asks.
The price point of these purchases is usually high, typically ranging from Dh1 million to Dh3.5 million. These investments are often influenced by the convenience of location, particularly areas close to work or social hubs. Women often start by investing in apartments with friends, using this as a stepping stone before making their next purchase independently.
Evans cites an example of three female friends who rent and work together in Dubai Marina. “Not being able to afford Marina as their first investment, they pooled their resources and invested in an apartment in Jumeirah Village Circle. They listed the property with us for rent and property management, generating an additional income stream for them all. Their investment has appreciated in value, and with our advice, they plan to use the rental income to fund future property investments.”
