When working professional Sarah wanted to purchase a two-bedroom apartment in Downtown Dubai, she knew she couldn’t afford it alone. So, she pooled her resources with her friend Nadia to afford a property in the prime location. The women, who are in their 30s, now live together and share the mortgage and maintenance costs. “Economically, pooling resources makes home ownership more accessible and allows for entry into the market sooner,” Sarah said. “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.”
Sarah and Nadia are part of a growing number of women in the UAE who are joining forces with friends and family to invest in property. Some choose to live together, while others opt to rent out their properties and divide the income. Zarah Evans, Managing Partner of Exclusive Links Real Estate, highlights several reasons behind this trend.
Inclusive Market
Encouraging this trend is crucial for fostering a more inclusive and dynamic real estate market, said Jeff Raju, CEO of Manifest Real Estate. “My female clients often collaborate with family members, friends, or business partners to pool their financial resources. This collaboration allows them to invest in higher-value properties or diversify their investments,” he explained. Women benefit from shared financial responsibility, diverse expertise, and combined investment power when they join forces.
Lakshmi (name changed to protect privacy) bought a property with her cousin three years ago. “At the time, we were buying smaller apartments and studios,” she said. “This year, we took the plunge and invested in an off-plan semi-detached four-bedroom villa for Dh3.4 million in Dubai South.” Lakshmi credits her partnership with her cousin for enabling her to expand her portfolio considerably. “If I had been investing alone, I would never be able to afford the places I did,” she said. “With the returns on the smaller investments, we saved enough to make this big investment. We haven’t decided whether to live there or rent it out, but we’ll most likely rent it out.”
Advice for Investors
Despite the positives, Evans cautions that women should have clear agreements and legal contracts in place when buying property together. “Discuss and document each person’s financial contributions, responsibilities, and plans for future property management or sale,” she advised. “Open and honest communication is key to maintaining a healthy partnership.”
Evans also noted that it is possible to buy property in joint names in Dubai. “You can define the percentages held by each investor,” she said. “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.” She added that if one or more joint owners decide to sell their shares in the property, all joint owners must consent to the sale. Establishing a collective investment agreement can help 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 but gaining momentum. “The pandemic further highlighted the benefits of secure housing and stable investments, accelerating this trend,” Evans said. As rental prices continue to rise in Dubai, many tenants are opting to buy instead. “If friends can rent together, why not buy together?”
Evans mentioned that these purchases typically range from Dh1 million to Dh3.5 million, influenced by the convenience of location. “Women typically invest in apartments when buying properties with friends, using this as a stepping stone and eventually making their next purchase independently,” she said.
She cited the example of three female friends who rent and work together in Dubai Marina. Unable to afford Marina as their first investment, they pooled their resources and invested in an apartment in Jumeirah Village Circle. They listed the property for rent and property management, generating an additional income stream for all. “Their investment has appreciated in value, and with our advice, they plan to use the rental income to fund future property investments,” Evans concluded.
