Money & Me: 'I own eight properties worth Dh25 million and plan to retire before I’m 40’
For the first nine years Shabbash Khan owned properties in the UAE, he did not live in any of them. He rented a flat while his assets appreciated, reinvested the rental income and used equity to buy more. It was a deliberate strategy – but last month he finally moved into one of his own homes for the first time. Khan, 35, is a performance director at a digital media agency. He holds eight…
Shabbash Khan, a 35-year-old performance director at a digital media agency, owns eight properties in Dubai, Abu Dhabi, and Sharjah worth approximately Dh25 million, and has a net worth of nearly Dh10 million. He plans to retire before turning 40.
Khan attributes his financial success to understanding the importance of money in childhood. He advises against impulse buying and shows off, and emphasized that true wealth lies in having time and connections rather than an expensive lifestyle. He believes that if one must work even after earning a high salary, they are not rich.
When he first arrived in Dubai, Khan saw it as a land of opportunity and started comparing India versus UAE. He found that investing in Dubai offered better returns due to the currency peg to the dollar and higher rental yields compared to India. He invested his savings in real estate, initially earning two to three percent in India and six to eight percent in the UAE.
Khan's first job was as a marketing executive in a digital agency in India, where he earned less than 1,000 rupees. He later realized the potential of Dubai's real estate market and began investing in properties there. His best investment is real estate, as he believes in focusing on assets that cannot be created, such as gold and real estate.
When asked about his cherished purchases, Khan mentions owning a BMW, his childhood dream car, but later realized it was more expensive than he imagined. He cherishes having a roof over his head and the emotional satisfaction and security it provides. His best advice for his younger self is to read books and pursue passions passionately.
Written by urgent.news from The National Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
