Investor · Arlington, TX · Member since 2014 · 114 posts · 92 votes
In the next few months I will be making the grand journey to the United Arab Emirates, specifically Abu Dhabi, for a contract that will last for at least 2 years. While I am there I would like to flip and/or buy and hold properties to add to my portfolio, which is completely empty, because I'm as new to the game as a defenseless baby seal. What I'd love to know is how "usufruct" and "musataha" rights or leases, translates to me, the expat investor wannabe. I know I should speak with an attorney, and I would honestly want to wait until I'm physically in the country to consult one, as the online part is sketchy and unreliable (or so I've heard). What I have gathered from just about 10 internet searches, the aforementioned rights or leases are applicable dependent on whether I plan to buy an "off plan" or "resale" property. I won't pretend to know what exactly either of them mean. Basically, for an expat investor, is this sort of thing even feasible? Has anyone done this successfully? Any insight or advice? Opinions?
Engineer · Abu Dhabi, U.A.E · Member since 2015 · 39 posts · 3 votes
10y
hello Michael
My name is Michael an aspiring Real estate investor presently based in Abu Dhabi.
Am new to the real estate business also. I have two raw land which I acquired two months ago back home in my country and looking forward to getting another by January.
I don't know much about the Abu Dhabi market but it will be nice to meet you when you come around.
My name is Michael an aspiring Real estate investor presently based in Abu Dhabi.
Am new to the real estate business also. I have two raw land which I acquired two months ago back home in my country and looking forward to getting another by January.
I don't know much about the Abu Dhabi market but it will be nice to meet you when you come around.
Have a nice day.
Hi Michael, thank you for introducing yourself and reaching out to me. I am trying to connect with as many investors there as I can, so maybe by the time I get there, I will have some of the resources available to make something happen. How long will you be in Abu Dhabi? I look forward to meeting you.
Engineer · Abu Dhabi, U.A.E · Member since 2015 · 39 posts · 3 votes
10y
hi Michael
Thanks for the reply, hope you are doing gpod.
Am very much around for now. Am an Electrical engineer but presently working as a CCTV operator so still on the search for a better Electrical engineering job.