Money & Me: 'I bought my first property at 27 and its value has now appreciated by 90%'

Ayman Kaouri bought his first home at the age of 27 and counts the UK property as his best investment since it has appreciated by around 90 per cent since.

The British-Lebanese, who’s been living in the UAE since 2023, attributes his financial acumen to his father, who inculcated in him principles around money management at a young age.

Mr Kaouri, 38, is the co-founder and regional director of ​Scope Solutions Middle East, a software consultancy and reseller specialising in cloud-based solutions for accounting firms and small and medium-sized enterprises.

“We started the business in August 2023, following our sister company’s success in Malta, since establishing there in 2012,” he says.

“Prior to starting Scope Solutions, I enjoyed 15 years in the software industry, starting out at Oracle in the UK and most recently, I led Xero’s expansion in emerging markets throughout the Europe, Middle East and Africa region – including the UAE.”

Mr Kaouri also founded Accounting Refigured, a Dubai accounting conference, which connects accountants with cloud software.

He holds an MBA and a bachelor's degree in computer science, and lives in Jumeirah Village Circle, Dubai, with his wife and two daughters, aged 7 and 2.

Did wealth feature in your childhood? What did you learn from it?

My parents come from a working-class background and had very strong principles around saving and the importance of living within your means. Fortunately, we didn't experience financial struggles, or at least as children we weren't aware of any.

My father, in particular, is a careful spender. For him spending money is logical rather than emotional behaviour.

This has rubbed off on me in many ways, and I feel it has shaped my spending behaviour. I'm always conscious of the need to save and not spend everything you earn.

How did you first earn?

I first started earning money as a schoolboy. I would buy mobile phones that were locked to a particular mobile phone network. I would then unlock the phones using computer software before reselling them at a higher price on eBay.

My first real job as an employee was part-time at a men's suit store while I was doing my A-levels at school. I earned around £3.75 (around Dh18) per hour.

At that age, every bit of money helped, and I learned vital customer service skills.

Any early financial jolts?

Fortunately, not. I could always hear my father's advice in my ears, so that kept me grounded.

How do you grow your wealth?

At the moment, most of my eggs are in two baskets, property and my business. My property in the UK has appreciated by around 90 per cent since purchasing it many years ago and I'm making a rental income from it.

Today, I'm in investing in my business in the UAE, so the returns are expected over the coming years as we grow.

Are you a spender or a saver?

A bit of both. I enjoy spending on eating out, family activities and holidays, but equally I like to keep money aside for a rainy day, as you never know when you might need it.

As a family man, I feel I need to be responsible.

Have you been wise with money?

Overall, I'd say yes. But there are definitely purchasing decisions I make that are heart decisions rather than head ones. I try to strike a balance between the two.

So, on paper, some decisions may come across as unwise but it's not always about growing wealth and sometimes it's about enjoying experiences.

I'm not that sentimental when it comes to material possessions. Experiences matter most to my family and me.

What has been your best investment?

So far, it's my house in the UK as I bought at a great time and location-wise, it's highly desirable due to its proximity to a train station that can get you into central London in just over 30 minutes.

How do you feel about money?

I feel comfortable with it. It can become a source of worry if you're not careful. Usually, I give myself enough of a safety net so that it doesn't stress me out.

I recognise that in the world we live in, money provides you with options and stability, so it's important for that reason.

When you have enough money to live the life you want, other things become far more important.

Any financial advice for your younger self?

Invest in some kind of regular savings early and don't touch them so that they compound over the years.

And buy as much Bitcoin as you can afford, when it first comes out!

Any key financial milestones?

Buying my first home at the age of 27 was the biggest financial milestone – and fortunately, I got in at just the right time before the market boomed.

What luxuries are important to you?

Probably having a nice car. It doesn't have to be new or super pricey – I do like it to feel a little luxurious though, particularly on the interior, as that's where you spend a lot of your time.

What are your financial goals?

I'd like to have financial freedom so that I can have flexibility to do what I want, when I want without having to show up every single day to work.

I'd also like to own properties in multiple countries to spread my risk and have somewhere to call home in the places I visit most.