Indian citizen Aamer Shah has been in Dubai for only five years but already owns two investment properties, one ready and the other off-plan.
He saves money every month and works up a significant buffer before identifying properties in which to invest.
Mr Shah does not keep money in the bank and prefers to convert it into gold to beat inflation.
The ethical hacker, 33, is from the city of Sri Nagar in Kashmir and has been working in cybersecurity for the past 10 years. He completed a bachelor’s degree in technology in Kashmir.
Mr Shah now lives in Al Barsha 1 with his wife and three-year-old daughter.
What was your first job and salary?
My first job was with Mercedes-Benz as a network engineer in Bangalore in 2015 on an annual salary of 475,000 Indian rupees ($5,610). I worked there for around two years. After that, every time I changed jobs, my salary, on average, would double.
I moved to a Swiss banking firm called Temenos in Bangalore, where I worked for six months. Then I moved to Ola Cabs and was there for eight months.
I moved to work with telecom company Ooredeo Oman in 2018. I worked as a resident engineer in Oman for a year. Since I was hired through the Dubai Multi Commodities Centre, I was paid in dirhams and had a salary of Dh15,000 ($4,084) per month. I was promoted and my salary increased to Dh18,000.
Tell us about your current role. What is your salary now?
I moved to Dubai when I received a job offer for a senior information security architect from Etisalat for a monthly salary of Dh28,000 in 2019. Today, I earn more than Dh30,000 per month.
As an ethical hacker, I break into applications. It could be web applications, mobile applications, satellites, radio frequency identification tags or cloning tags, I create a report and tell the owners how I was able to hack. They fix it and I give them a clearance.
I also occasionally earn money through bug bounty. I used to perform bug bounty for different applications. One example is reporting bugs in Samsung mobile browser for which I was paid $800.
I also earn money through real estate referrals to developers and brokers. This is done occasionally.
Do you manage to save and have considerable savings?
Three days before I turned 30, I bought my first sports car, a Corvette C7. But after a year, I thought it was a liability. Since I am a Muslim, I always prefer interest-free products and safe, low-risk options. So, I decided to invest in real estate.
I sold my car for a higher price than I bought it for. I used that money and my savings to purchase my first property, a studio, in Dubai Marina for Dh550,000 in 2023. I paid for it in full cash, which also helps you negotiate better with the seller. The unit is leased and I earn a monthly rent of Dh7,000.
What asset classes do you invest in?
Besides property, I had invested in gold but liquidated it to pay for the apartment.
I also purchased an off-plan studio in Jumeirah Lakes Towers and it will be ready by the fourth quarter of 2025. It is worth more than Dh1.5 million and I paid about Dh630,000 as the down payment.
I expect to earn rent between Dh10,000 and Dh12,000 per month from this unit. So, I will earn around Dh20,000 per month from the two properties by the end of next year, besides my salary.
Have you purchased property in your home country?
No, because my family members and friends who have invested in property in India receive a return of 3.5 per cent to 4 per cent in India whereas in the UAE, you can earn a minimum RoI of 8 per cent. I earn a 14 per cent RoI on my Dubai Marina apartment and expect to get more than 10 per cent return for my JLT unit.
Do you have any debt?
I don’t have any personal loans because I don’t believe in taking a loan, not only from a bank but also from a friend, unless it's an emergency. I had eight credit cards earlier and used them to avail of deals like free valet service and airport lounge access. Now I have stopped using all those cards because I used to spend a bit more. I only use my company's e& money card for daily purchases.
Have you ever inherited a sum of money?
Not yet, but I will receive an inheritance worth at least $2 million because my parents are top doctors in Kashmir.
Growing up, were you taught how to handle your finances?
No, my school always taught students to work hard to get money. But instead one has to work smart and also know how money works. This was never taught to me and even my parents told me that a salary is the only source of money.
It was only during my second job at the Swiss banking firm where I came to understand how money works and more about investments such as stocks, options trading and even cryptocurrencies.
What are your major monthly expenses?
Dh3,000 is spent on food and grocery shopping, Dh2,000 on utility and telecom bills, around Dh5,00 on my daughter’s school fees, Dh2,000 for miscellaneous shopping and the biggest expense is house rent of Dh6,700 per month. I have also created an Excel sheet for my non-recurring expenses such as visa renewal, car service, registration and insurance renewal, visa and travel, and these add up to Dh3,000 per month. So all my expenses cumulatively add up to Dh23,000 per month.
How do you budget your salary every month?
I keep aside Dh10,000 each month in savings and then spend the rest on bills and other expenses.
Have you started saving for retirement?
I have not thought of retirement, but plan to use the returns generated from my real estate investments. I'm trying to diversify my real estate portfolio in different countries.
Do you have an emergency fund?
I had Dh100,000 for a few months, but because I recently purchased the JLT apartment, I need to start building my buffer again. But I am part of a group of friends who lend money among themselves, both for real estate investments and in case of emergencies.
What do you spend your disposable income on?
I don't spend my income on things that I don’t require. I buy a gadget once a year for around Dh5,000, a few small gadgets, which on average cost around Dh500 monthly, or car stickers.
I don't have the fear-of-missing-out mindset, avoid going to movies and don't have a very active social life.
Do you worry about money?
No, I consider money as a commodity, which comes with time and is predestined. So, I live worry-free because money is not in my control.
I try to buy studios in Downtown Dubai and JLT so that I can sell them easily
Aamer Shah,
ethical hacker
What are your money-saving hacks to offset inflation?
As soon as I get my salary, I invest it in gold because the yellow metal beats inflation. I don't keep any money in the bank. As soon as I get some money, even if it is Dh100,000 or Dh200,000, I'll immediately tell my parents to purchase a property.
What are your financial goals?
I want to make a profit by flipping properties. For instance, my JLT studio which was bought for Dh600,00 is now worth Dh900,000, so I have already made a profit. I may sell it and reinvest in another property. Once I have enough money and enough properties, then I would not have to work.
I also want to buy more properties. At the end of next year, I will earn more than Dh50,000 per month from my salary and property rent. I can save between Dh200,000 and Dh300,000 in four to six months and use that money to buy a studio apartment every few months. I try to buy studios in Downtown Dubai and JLT so that I can sell them easily.
I plan that every property I add to my portfolio will give me an average rent between Dh7,000 and Dh10,000 per month. Therefore, my third property purchase will put my monthly income at Dh60,000 while my expenses remain more or less under Dh25,000.
What is your idea of financial freedom?
I want all my investments to be so successful that my children become financially independent. They should not have to work to earn. Instead, they can work on their passion. They shouldn’t go to work driven by the idea of money alone.
Do you want to be featured in My Salary, a weekly column that explores how people around the world manage their earnings? Write to pf@thenationalnews.com to share your story
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
A Long Way Home by Peter Carey
Faber & Faber
UAE tour of the Netherlands
UAE squad: Rohan Mustafa (captain), Shaiman Anwar, Ghulam Shabber, Mohammed Qasim, Rameez Shahzad, Mohammed Usman, Adnan Mufti, Chirag Suri, Ahmed Raza, Imran Haider, Mohammed Naveed, Amjad Javed, Zahoor Khan, Qadeer Ahmed
Fixtures:
Monday, 1st 50-over match
Wednesday, 2nd 50-over match
Thursday, 3rd 50-over match
if you go
The flights
Etihad flies direct from Abu Dhabi to San Francisco from Dh5,760 return including taxes.
The car
Etihad Guest members get a 10 per cent worldwide discount when booking with Hertz, as well as earning miles on their rentals (more at www.hertz.com/etihad). A week's car hire costs from Dh1,500 including taxes.
The hotels
Along the route, Motel 6 (www.motel6.com) offers good value and comfort, with rooms from $55 (Dh202) per night including taxes. In Portland, the Jupiter Hotel (https://jupiterhotel.com/) has rooms from $165 (Dh606) per night including taxes. The Society Hotel https://thesocietyhotel.com/ has rooms from $130 (Dh478) per night including taxes.
More info
To keep up with constant developments in Portland, visit www.travelportland.com
If you go...
Flying
There is no simple way to get to Punta Arenas from the UAE, with flights from Dubai and Abu Dhabi requiring at least two connections to reach this part of Patagonia. Flights start from about Dh6,250.
Touring
Chile Nativo offers the amended Los Dientes trek with expert guides and porters who are met in Puerto Williams on Isla Navarino. The trip starts and ends in Punta Arenas and lasts for six days in total. Prices start from Dh8,795.
RESULTS
5pm: Maiden (PA) Dh80,000 1,600m
Winner: Raghida, Szczepan Mazur (jockey), Ibrahim Al Hadhrami (trainer)
5.30pm: Maiden (PA) Dh80,000 1,600m
Winner: AF Alareeq, Connor Beasley, Ahmed Al Mehairbi
6pm: Arabian Triple Crown Round-2 Group 3 (PA) Dh300,000 2,200m
Winner: Basmah, Fabrice Veron, Eric Lemartinel
6.30pm: Liwa Oasis Group 2 (PA) Dh300,000 1,400m
Winner: AF Alwajel, Tadhg O’Shea, Ernst Oertel
7pm: Wathba Stallions Cup Handicap (PA) Dh70,000 1,600m
Winner: SS Jalmod, Richard Mullen, Satish Seemar
7.30pm: Handicap (TB) Dh100,000 1,600m
Winner: Trolius, Ryan Powell, Simon Crisford
Australia World Cup squad
Aaron Finch (capt), Usman Khawaja, David Warner, Steve Smith, Shaun Marsh, Glenn Maxwell, Marcus Stoinis, Alex Carey, Pat Cummins, Mitchell Starc, Jhye Richardson, Nathan Coulter-Nile, Jason Behrendorff, Nathan Lyon, Adam Zampa
Brief scores:
Manchester City 2
Gundogan 27', De Bruyne 85'
Crystal Palace 3
Schlupp 33', Townsend 35', Milivojevic 51' (pen)
Man of the Match: Andros Townsend (Crystal Palace)
if you go
The flights
The closest international airport to the TMB trail is Geneva (just over an hour’s drive from the French ski town of Chamonix where most people start and end the walk). Direct flights from the UAE to Geneva are available with Etihad and Emirates from about Dh2,790 including taxes.
The trek
The Tour du Mont Blanc takes about 10 to 14 days to complete if walked in its entirety, but by using the services of a tour operator such as Raw Travel, a shorter “highlights” version allows you to complete the best of the route in a week, from Dh6,750 per person. The trails are blocked by snow from about late October to early May. Most people walk in July and August, but be warned that trails are often uncomfortably busy at this time and it can be very hot. The prime months are June and September.
MATCH INFO
Uefa Champions League quarter-final second leg:
Juventus 1 Ajax 2
Ajax advance 3-2 on aggregate
Scoreline
Real Madrid 1
Ronaldo (53')
Atletico Madrid 1
Griezmann (57')
Emergency phone numbers in the UAE
Estijaba – 8001717 – number to call to request coronavirus testing
Ministry of Health and Prevention – 80011111
Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre
Emirates airline – 600555555
Etihad Airways – 600555666
Ambulance – 998
Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries
UAE currency: the story behind the money in your pockets
COMPANY%20PROFILE
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EXPATS
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Lulu%20Wang%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Nicole%20Kidman%2C%20Sarayu%20Blue%2C%20Ji-young%20Yoo%2C%20Brian%20Tee%2C%20Jack%20Huston%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
Ant-Man%20and%20the%20Wasp%3A%20Quantumania
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Sonchiriya
Director: Abhishek Chaubey
Producer: RSVP Movies, Azure Entertainment
Cast: Sushant Singh Rajput, Manoj Bajpayee, Ashutosh Rana, Bhumi Pednekar, Ranvir Shorey
Rating: 3/5
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
THE%20SPECS
%3Cp%3EEngine%3A%203-litre%20V6%20turbo%20(standard%20model%2C%20E-hybrid)%3B%204-litre%20V8%20biturbo%20(S)%0D%3Cbr%3EPower%3A%20350hp%20(standard)%3B%20463hp%20(E-hybrid)%3B%20467hp%20(S)%0D%3Cbr%3ETorque%3A%20500Nm%20(standard)%3B%20650Nm%20(E-hybrid)%3B%20600Nm%20(S)%0D%0D%3Cbr%3EPrice%3A%20From%20Dh368%2C500%0D%3Cbr%3EOn%20sale%3A%20Now%3C%2Fp%3E%0A
UAE SQUAD
UAE team
1. Chris Jones-Griffiths 2. Gio Fourie 3. Craig Nutt 4. Daniel Perry 5. Isaac Porter 6. Matt Mills 7. Hamish Anderson 8. Jaen Botes 9. Barry Dwyer 10. Luke Stevenson (captain) 11. Sean Carey 12. Andrew Powell 13. Saki Naisau 14. Thinus Steyn 15. Matt Richards
Replacements
16. Lukas Waddington 17. Murray Reason 18. Ahmed Moosa 19. Stephen Ferguson 20. Sean Stevens 21. Ed Armitage 22. Kini Natuna 23. Majid Al Balooshi
Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
How Filipinos in the UAE invest
A recent survey of 10,000 Filipino expatriates in the UAE found that 82 per cent have plans to invest, primarily in property. This is significantly higher than the 2014 poll showing only two out of 10 Filipinos planned to invest.
Fifty-five percent said they plan to invest in property, according to the poll conducted by the New Perspective Media Group, organiser of the Philippine Property and Investment Exhibition. Acquiring a franchised business or starting up a small business was preferred by 25 per cent and 15 per cent said they will invest in mutual funds. The rest said they are keen to invest in insurance (3 per cent) and gold (2 per cent).
Of the 5,500 respondents who preferred property as their primary investment, 54 per cent said they plan to make the purchase within the next year. Manila was the top location, preferred by 53 per cent.
Isle of Dogs
Director: Wes Anderson
Starring: Bryan Cranston, Liev Schreiber, Ed Norton, Greta Gerwig, Bill Murray, Jeff Goldblum, Scarlett Johansson
Three stars
What's in the deal?
Agreement aims to boost trade by £25.5bn a year in the long run, compared with a total of £42.6bn in 2024
India will slash levies on medical devices, machinery, cosmetics, soft drinks and lamb.
India will also cut automotive tariffs to 10% under a quota from over 100% currently.
Indian employees in the UK will receive three years exemption from social security payments
India expects 99% of exports to benefit from zero duty, raising opportunities for textiles, marine products, footwear and jewellery
Under-21 European Championship Final
Germany 1 Spain 0
Weiser (40')
It Was Just an Accident
Director: Jafar Panahi
Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr
Rating: 4/5
More from Rashmee Roshan Lall
MATCH INFO
Manchester United 1 (Fernandes pen 2') Tottenham Hotspur 6 (Ndombele 4', Son 7' & 37' Kane (30' & pen 79, Aurier 51')
Man of the match Son Heung-min (Tottenham)
What%20is%20cystic%20fibrosis%3F
%3Cul%3E%0A%3Cli%3ECystic%20fibrosis%20is%20a%20genetic%20disorder%20that%20affects%20the%20lungs%2C%20pancreas%20and%20other%20organs.%3C%2Fli%3E%0A%3Cli%3EIt%20causes%20the%20production%20of%20thick%2C%20sticky%20mucus%20that%20can%20clog%20the%20airways%20and%20lead%20to%20severe%20respiratory%20and%20digestive%20problems.%3C%2Fli%3E%0A%3Cli%3EPatients%20with%20the%20condition%20are%20prone%20to%20lung%20infections%20and%20often%20suffer%20from%20chronic%20coughing%2C%20wheezing%20and%20shortness%20of%20breath.%3C%2Fli%3E%0A%3Cli%3ELife%20expectancy%20for%20sufferers%20of%20cystic%20fibrosis%20is%20now%20around%2050%20years.%3C%2Fli%3E%0A%3C%2Ful%3E%0A
Name: Brendalle Belaza
From: Crossing Rubber, Philippines
Arrived in the UAE: 2007
Favourite place in Abu Dhabi: NYUAD campus
Favourite photography style: Street photography
Favourite book: Harry Potter
Manchester United v Club America
When: Thursday, 9pm Arizona time (Friday UAE, 8am)
Read more about the coronavirus
How to vote in the UAE
1) Download your ballot https://www.fvap.gov/
2) Take it to the US Embassy
3) Deadline is October 15
4) The embassy will ensure all ballots reach the US in time for the November 3 poll
BRAZIL%20SQUAD
%3Cp%3EGoalkeepers%3A%20Alisson%2C%20Ederson%2C%20Weverton%3Cbr%3E%3Cbr%3EDefenders%3A%20Dani%20Alves%2C%20Marquinhos%2C%20Thiago%20Silva%2C%20Eder%20Militao%20%2C%20Danilo%2C%20Alex%20Sandro%2C%20Alex%20Telles%2C%20Bremer.%3Cbr%3E%3Cbr%3EMidfielders%3A%20Casemiro%2C%20Fred%2C%20Fabinho%2C%20Bruno%20Guimaraes%2C%20Lucas%20Paqueta%2C%20Everton%20Ribeiro.%3Cbr%3E%3Cbr%3EForwards%3A%20Neymar%2C%20Vinicius%20Junior%2C%20Richarlison%2C%20Raphinha%2C%20Antony%2C%20Gabriel%20Jesus%2C%20Gabriel%20Martinelli%2C%20Pedro%2C%20Rodrygo%3C%2Fp%3E%0A
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
