Investment Guide

In business and investment, victory belongs not to those who follow the crowd, but to those who spot potential where others have yet to glimpse emerging opportunities. Maria Maslenkova's boutique agency, MIO Real Estate, specialises in high-yield property investments across the UAE. In her column, the company's founder reveals the secrets of successful investing in Dubai, Abu Dhabi and the promising markets of the Middle East, shares her approach to client relationships, and discusses the trends that will shape the market in the coming years.

One of my clients has purchased five properties in the Emirates over five years, successfully sold two of them, and lets the others. He has never set foot in the UAE. His first investment came at the beginning of 2020, and since then he has experienced the full cycle: from buying off plan to receiving keys, from preparing the property to letting it, from selling to reinvesting. All from a distance, with complete trust in our expertise. For me, this case exemplifies how genuine trust works between investor and consultant-expert, particularly when it concerns investments in a foreign country.
My own path into property was rather unexpected. I never dreamt of becoming a broker, never planned to establish an agency. I had a successful career in the oil and gas industry, a relevant education, and a clear trajectory for development. I moved to the Emirates in 2013 specifically for work in oil. By 2016, having earned my first capital, I began seeking investment opportunities and naturally turned my attention to Dubai property, where I had already lived for three years and understood the local specifics well.

I spent a year studying the market, analysing trends, tracking price dynamics, and only in 2017 did I acquire my first investment property. The market peaked in 2014-2015, and by the time of my purchase, it was already correcting. This allowed me to find so-called 'distressed deals' – properties sold at significant discounts due to urgent sale requirements.
Gradually, my colleagues from the oil industry began seeking my advice. I was on maternity leave with time on my hands, and property investment consulting initially became my hobby. Upon returning to Russia with my young daughter, I encountered the then-emerging community of property investors. I began working as an independent consultant, selecting properties in the Emirates market. The UAE weren't yet so popular among Russians, but an audience already existed.

Thus began my transformation from oil industry investor to investment consultant, then to freelance agent. I worked under a friend's agency umbrella, using their infrastructure whilst maintaining independence. Gradually, I formed my own team. When freelancing became too constraining, the time came to create my own property agency, which has now operated successfully in the market for several years.

The name MIO arose organically from my Instagram profile – Maria Invest Overseas. When it came time to choose a company name, I simply took the first letters, and it stuck. Interestingly, we only began systematic brand development this year. Until recently, our entire business thrived exclusively on word of mouth. We had formed a broad client base, including investment bloggers whom I'd encountered through various channels, including conducting specialised lectures and webinars on property investment and international taxation for their audiences. We were passed from hand to hand, recommended to friends and partners. There was no need to announce ourselves loudly — everyone already knew me and came specifically to me.

Only this year did the desire to scale up emerge, to reach a new level. We began working on branding with a serious agency because our previous mode of operation had become constraining. Yet our working philosophy remains unchanged — we don't merely sell property; we help investors build capital through carefully and thoroughly selected properties.

The key feature of our approach is that we work with a maximum of 5% of all market offerings. MIO Real Estate isn't a conventional property agency offering clients anything and everything for any budget. I select only what I would buy myself. As an active investor in this market with a personal portfolio of more than ten investment properties in the UAE alone and over twenty-five across five countries worldwide, I follow specific criteria and offer clients exclusively those properties that can subsequently be profitably sold or let.

We always identify emerging trends and work ahead of the curve. In 2018, I began actively selling Dubai; in 2022-2023, we almost entirely switched to Abu Dhabi. This market is now decidedly more interesting for investors. We have dozens of cases with very high returns for property, real examples of successful entry and exit from investments. Despite being a small agency, we've been in the top five partners of Abu Dhabi's key government developer, Aldar, for several years. This is remarkable, as all others in this five are large agencies with hundreds of employees.

In 2023, we began purchasing in Sharjah with investors. This is another location not yet widely discussed. Legislation changed there that year, and now property can be purchased freehold in certain locations. Properties bordering Dubai in coastal areas cost two to three times less than comparable areas in Dubai.

Our strategy is thus: we identify trends at the earliest stage, enter them, then gradually exit and move to the next as they gain momentum. Our gaze now turns to Saudi Arabia – a market with colossal potential just opening to foreign investors.

We began studying opportunities in Saudi Arabia back in 2023. Since then, we've regularly flown there, building relationships with developers and owners. Recently, the country finally signed legislation allowing foreigners to own property. Until this point, few international market representatives paid attention to this jurisdiction, giving us a distinct advantage — we're the first Russian-speaking agency to deeply immerse ourselves in this market.

Saudi Arabia is now implementing megaprojects, actively investing in tourism development. The 2030 FIFA World Cup will be held there, and EXPO is planned. Meanwhile, there's a serious housing shortage. Historically, the local population prefers houses, townhouses and villas, so modern quality flats are extremely scarce. Yet demand is growing — more expats are arriving, major companies are opening and expanding offices, and people simply have nowhere to live.

Previously, only premium projects from select developers were available to foreigners, with minimum investments starting at $500,000. But we're building relationships with other developers offering properties from $200,000. Until recently, only locals could purchase these, but now this market is opening.

We've even developed an investment method through creating an investment fund. This is particularly relevant for Mecca and Medina — cities sacred to Muslims where non-Muslims cannot purchase property. But funds can acquire such properties, opening new horizons for investors.

Another feature is our full-cycle support. Our business structure includes both standard rental services — long-term letting — and a separate management company handling property staging, home preparation and short-term rentals. Currently operating in Dubai, where we manage about thirty properties, we're expanding to Abu Dhabi from the end of this year — a large pool of our investors' flats is being completed there, particularly on Saadiyat and Yas Islands. Our main Abu Dhabi locations are Saadiyat, Yas, Reem and Hudayriyat Islands.

We also help clients with property financing. We have many mortgage cases, and we prepare even those without residency. This isn't always about lacking funds for the full property price or final instalment payment. Sometimes mortgaging is a tool for extracting capital from an already appreciated property without selling it.

For instance, in Abu Dhabi there are cases where property value doubled during construction. Rather than selling, we suggest the investor mortgage the property at market value, extract money through the mortgage, and reinvest in the next project. The first property remains in the portfolio, is let, and the mortgage is repaid from rental income. Why sell an asset generating stable income? It's far more effective to keep it in the portfolio, extract part of the profit, and use it for further growth. I follow this strategy in my personal portfolio, which has allowed me to create substantial capital and an asset pool.

To implement such strategies, we've established partnerships with three different mortgage brokers, each strong in their niche. One works better with non-residents — Russians and Europeans; another with businesspeople whose enterprises are registered in the Emirates; the third with employees. Depending on the client's situation, we recommend the appropriate partner and support the process from start to finish.

There are impressive examples: some clients have structured their profiles to achieve total financing up to 20 million dirhams. And this whilst they were engaged in completely different businesses, with property merely an investment tool.

Currently, we have ten brokers on the team, but we're planning expansion this autumn. We need to enlarge the secondary property department and strengthen the Saudi Arabia division. I have an unusual criterion for selecting staff: I don't take people with experience working in Emirates property. Not one person on my team was an agent before joining me. All come from different fields.
It's important to me that new employees don't have formed behavioural patterns and experience that don't align with our philosophy. I want them to adopt my approach to selecting properties and working with clients. All my brokers are active investors; each has their own investment property; some have complete portfolios. You can't be a cobbler without shoes. People must understand how they choose and think not about commission but about benefiting clients.

The second criterion is having interesting experience in other fields. We have a former bank department head whose financial-economic perspective is invaluable. There's an experienced investor who invested in the Russian market for many years, had her own furniture manufacturing business and experience with seven mortgages in Russia, and has now completely rebuilt her portfolio in the UAE. She brilliantly calculates investment strategies. The head of secondary property came from top management in a manufacturing company with experience in high-level negotiations and broad strategic vision.

Thanks to such diverse experience, we've built a broad network of cooperation with other agencies. We don't compete but interact with practically all market players to realise our properties. Secondary property sells well not on open platforms but through targeted work with all agencies, where one must agree terms and respect all parties' interests.
Our strength is high client retention. Most of our investors purchase two or more properties. They buy, sell, reinvest money again. This circulation of properties with the same clients has continued for several years. New clients come too, of course, but we focus on systematic work with regular investors.

Interestingly, we've formed a particular audience — Russian-speaking clients living in Europe and the USA. For them, the Emirates have become a more reliable and attractive jurisdiction, especially after the UAE were removed from the FATF grey list. Previously, many Europeans and Americans perceived the Emirates as a dubious jurisdiction with a reputation as a haven for grey capital. The situation has changed — the country has done much to improve its image, including introducing taxes and adequate compliance procedures. Though for retail investors, the tax regime remains the world's most attractive: zero income tax rates, including rental income and capital gains.

People who've watched us since 2020 are now convinced this is genuinely an interesting market, far more profitable than Europe, where prices are falling in many major cities and after-tax rental income is dismal. They need a currency zone rather than rouble zone anyway due to the latter's heightened exchange rate risks.

Against the backdrop of generally declining demand from Russian buyers that many colleagues note, we fortunately don't have this situation. The reason lies in our established client base and the real results we demonstrate to our investors.

We're now encountering a new market demand. People come to us with existing property portfolios acquired through other agencies, especially during the 2022 peak when many rushed to move money from Russia. They were often advised to spread one sum across five properties, pay the initial deposit, then resell. Now these investors don't know how to continue payments or what to do with these properties.

This prompted my idea for a new service — a sort of investment check-up. Clients come with what they already have. We analyse the portfolio and help decide what to do next. Some properties can be sold, others are better let, from some money can be extracted through mortgaging and reinvested. This isn't just selling properties but portfolio management, helping capital work more efficiently.
Previously, I refused such clients, recommending they come at the start of their investment journey. Now I understand this is a large audience interested not just in buying properties but in managing them wisely and strategically.

Regarding location choice, my personal investment journey began in Dubai, which was logical at the time. Then I paused and switched to Abu Dhabi, where the main part of my property capital is now concentrated. Recently, my husband and I turned our attention back to Dubai and purchased a flat through assignment in the Mina Rashid project by Emaar.

Dubai now has almost no interesting launch sales — developers initially set inflated prices. But there are undervalued areas like Mina Rashid. Mohammed Bin Rashid City (MBR City) is also worth considering, though prices there are already somewhat inflated, but growth potential remains. Among coastal areas, Dubai Islands are certainly interesting, though one must carefully analyse launch prices and developer reputation, as many projects are being built and far from all are promising. Among more distant areas, I recommend Silicon Oasis. If you can buy through assignment with substantial initial payment (not 10% of value), it definitely makes sense.

We bought our property in May, the deal went through assignment, and I see potential growth of around 40% to its price. Assignments are interesting because new launches start at higher prices, whilst assignments resell with mark-up already included but still lower than new projects. Moreover, such properties are completed sooner, you don't wait 4-5 years, and instalment plans often remain.
Dubai is interesting for leveraged investment. We have an impressive flipping case: a client bought a one-bedroom flat in JLT on mortgage, in poor condition but excellent location. We renovated it, let it monthly with returns over 20% on all invested funds, including renovation costs (rental income minus mortgage payments/initial payment and all renovation and mortgage costs). The client then decided to sell to reinvest further and made about 70% profit on invested funds. The entire cycle took less than a year — from last August to spring.

But my love remains Abu Dhabi. There's very limited supply and rapidly growing demand. Far fewer new projects launch compared to Dubai. Locations are superb, population growing quickly, many wealthy families choosing Abu Dhabi over Dubai. Supply simply can't keep up with demand, driving prices up.

We mainly purchase on Saadiyat Island, a genuine pearl where prices will continue rising for a long time. On Yas Island, launch prices are now higher because Disneyland construction was announced and the market surged. Reem Island is very interesting. It's undervalued, though effectively in the city centre, close to everything. Excellent projects are being built there with good returns.
Among completely new territories is Al Fahid Island; the first launch was in June, with many more releases coming. Not all, but many projects there present excellent investment opportunities with good appreciation prospects, especially at first launches.

Speaking of the overall market state, I believe Dubai may see targeted corrections. By economic cycles, some need for minor correction has matured — the market has grown for several consecutive years. But this is unlikely to be a dramatic fall. That's possible only with serious military conflicts in the region.

But even here there's a stability factor: practically all Middle Eastern leaders keep money in the Emirates. Many transferred capital from European jurisdictions after Europe froze Russian assets, undermining its reputation as a reliable repository for international capital. Therefore, there's every reason to believe the Emirates will remain outside possible conflict zones — it's a sort of communal 'safe' for regional elites.

In Dubai's best areas — coastal zones, established locations like Dubai Hills and Downtown — any correction won't exceed 5% and will compensate within a year to eighteen months. Abu Dhabi shows a clear growth trend. Historically, even during the strongest crises, Abu Dhabi was most stable regarding property markets. It grew moderately but steadily. All locals invest almost exclusively in Abu Dhabi — it's a locals' market, though foreign investor interest is now growing.

Overall, the Emirates remain relatively inexpensive compared to key global cities like New York or London. There's great potential for further growth. Many millionaires and billionaires are now leaving Britain after non-domicile status abolition, and some choose the Emirates, transferring their capital here.

Regarding different nationalities' preferences when choosing property, I haven't noticed pronounced peculiarities. Coastal zones attract everyone — Russians and Europeans alike. Perhaps some older Arabs often avoid living by water due to cultural features. According to their beliefs, living by water drains strength and youth. Therefore, they prefer central districts, not coastal locations. For Indian buyers, flat numbers and cardinal directions matter according to Vastu principles.

An interesting difference concerns purchasing behaviour. Russian-speaking clients love buying property during construction, at launch or foundation stage. Europeans are more risk-conservative; they understand better buying ready properties or at key handover stage. Most buyers of our near-completion assignments are Europeans. They want to immediately start receiving passive rental income, since such return rates simply don't exist in Europe, and taxes consume significant profit portions.

When choosing a developer, reputation is paramount. Brand recognition matters enormously and can be either positive or negative. You can't publicly criticise companies in Dubai, but professionally we know which major developers haven't distinguished themselves well.

Some developers' brands sell themselves, benefiting buyers too. When someone purchases property from Emaar in Dubai or Aldar in Abu Dhabi, this automatically provides guarantees other developers lack. Some foreign investors, especially Chinese, buy these companies' projects literally blindly, by floors and buildings. They're confident these developers will complete construction, do so with quality, and the property will be easy to sell in future thanks to brand strength.

Developer experience and track record also matter. For instance, Sobha in Dubai is famous for precise completion dates — they even beat announced dates. This is significant for end users needing to move in at specific times and for investors planning financial flows. Meanwhile, the vast majority of developers can easily delay project completion, and for them this is normal practice, though instalment payments or final payment also shift, though this still affects overall returns.

The basic requirement is an escrow account. This should seemingly be universal, but cases occur where sales launch without opening such accounts, which is illegal. Various preliminary booking schemes are used, money collected not into escrow accounts with promises to open them later. This is unsafe for investors. Good brokers always verify this information and warn clients about risks.
Fortunately, Dubai's property market is very transparent. Open information sources exist, for instance REST application, where anyone can verify escrow account existence for specific projects. When booking a flat, always check whether payment details match the officially registered escrow account approved by the land department.

Globally, sustainable development now receives considerable attention. Various certificates exist, such as LEED, confirming building sustainability. Banks and insurance companies worldwide already consider this criterion when evaluating property. Not all UAE developers care about this aspect, but major players like Aldar actively implement these principles.

A striking example is Sustainable City. It already exists in Dubai and is now being built on Yas Island in Abu Dhabi. We began selling this project to investors in early 2023. The ecological theme is represented comprehensively: separate parking, solar panels and numerous other 'green' solutions. Initially, our clients doubted – this theme isn't so close to Russian-speaking audiences. But I explained how important this is for Europeans and Arabs themselves. We're now actively reselling these properties, and they've grown well in price precisely due to the ecological factor.

Speaking personally, I live in Dubai but await completion of my house in Abu Dhabi, on Saadiyat Island, in Saadiyat Lagoons complex. It will be completed in 2027. Most likely, we'll live between two homes, as we're already accustomed to travelling to Abu Dhabi at least weekly for work, and spend many weekends there. For me, it's the ideal combination – dynamic Dubai for work and more peaceful, relaxed Abu Dhabi for rest.

Our business is built on personal approach. We belong to the boutique agency category, emphasising close client communication. That's why we don't yet use artificial intelligence and other new technologies many companies actively implement for marketing purposes. Human contact and individual approach matter more to us.

However, I have plans in this direction. I'm interested in moving more towards capital management, creating IT services helping clients solve financial and investment tasks. This could be a platform for analysing investment plans, determining project exit timing, choosing optimal moments for fund redistribution. These are just ideas on paper for now, but movement will be in this direction.
What truly inspires me in this business is finding non-obvious solutions, overcoming complexities. For instance, when we developed an investment scheme for Mecca and Medina property through an investment fund. For me, this isn't just business but an intellectual challenge requiring unconventional thinking.

Over years working in the market, I've formed my own investment philosophy. I believe one shouldn't fear corrections and temporary downturns. Everything that falls eventually recovers. Property is a market that always regains what's lost, even if negative factors led to price decreases. The main thing is fundamentally treating property as a long-term project. Of course, active speculation has its place, and many of our cases confirm this, but the more anxious the investor, the generally weaker their overall result.

For me personally, as an investor with an impressive portfolio in the Emirates, the current market situation doesn't cause concern. I've seen both falls and rises in this market, so I view things calmly and with perspective understanding. Perhaps there won't be such rapid growth as before in the near term, but long-term the market looks quite stable.

Drivers for further growth remain. The Emirates remain relatively inexpensive compared to key global property markets. Investors continue transferring funds from less stable jurisdictions. Wealthy people from various countries choose the UAE as their new residence, bringing capital with them.

In our work, we strive not just to sell but to offer comprehensive solutions for capital growth. That's why we have such high client return rates – people see real results and return for new investments.
Sometimes I'm asked about my personal credo, the principle guiding me through life. I've never particularly thought about it, but perhaps it could be formulated thus: 'Everything is possible' or 'Nothing is impossible'. I'm a person of action – if I see perspective, I simply go forward, then deal with complexities along the way. This exploratory spirit, belief in possibilities and openness to the new perfectly combine with the philosophy of the Emirates themselves, a country that transformed from desert to global centre attracting capital and talent within decades.

Ultimately, property investment success is determined not just by choosing the right property but by deep market understanding, ability to anticipate trends and readiness to act pre-emptively. We at MIO Real Estate help our clients not just invest but invest wisely and strategically, creating long-term capital and stable income.

The UAE market continues evolving, opening new opportunities for investors. With new territories like Saudi Arabia, perspectives become even broader. And I believe that for those ready to look slightly beyond the horizon, who aren't afraid to be pioneers, there will always be opportunities for profitable and secure investments.

We now stand on the threshold of a new stage in company development. From a small agency living on word of mouth, we're transforming into a structure with clear branding and expanded service range. But our essence remains unchanged – we're still those who seek the best market opportunities for clients, who see potential where others don't notice it, and who take responsibility for results.
If you ask me the secret of MIO Real Estate's success, I'd say it's combining investment thinking with brokerage expertise. We view the market through investor eyes because we are investors ourselves. We recommend only what we'd buy ourselves. And perhaps that's precisely why clients return to us again and again.

In a world where trust becomes an increasingly rare resource, we've created a company founded on trust – in our expertise, our recommendations, our market vision. And for me, there's no greater joy than seeing our clients' capital grow thanks to properly chosen investment approaches.

Regardless of how the market changes in coming years, we'll remain true to our principles – choosing the best, investing wisely and always looking slightly beyond the horizon. This is MIO Real Estate's philosophy, helping our clients journey towards financial freedom through property investment.