Mrs. Ivanova buys an impressive 1 Bedroom Apartment at International City for AED 480,000. She is able to secure financing with HSBC at 80% LTV over a 20 year repayment period.
 
Henceforth the loan/mortgage amount is 80% of 480,000 that is 384,000.

Original Investment:
She makes a down payment of AED 96,000 to make up the difference. A typical repayment mortgage interest rate for the Dubai market is 8.5% annually.

Financing Cost:
The monthly mortgage repayment is:
Interest only Mortgage
384,000 (loan/mortgage amount) * 0.085 (Interest rate) = AED 32,640 / 12 (months) =
AED 2,720 per month.

Repayment Mortgage
Including the repayment portion of the loan = AED 40,572 / 12 (months) = AED 3,381per month

Rental Income:
Typical rental income for a 1 bedroom at International City is AED 50,000 annually which is a rental yield of around 10.42%. A benefit to rent property in Dubai is that rents are paid annually and in advance.

Net income from rent is:
Interest only Mortgage: 50,000 (Rental income) – 32,640 (Mortgage payment) = AED 17,360

Mrs. Ivanova receives a net income of AED 17,360 annually.
Repayment Mortgage: 50,000 (Rental income) – 40,572 (Mortgage payment) = AED 9,428
Mrs. Ivanova receives a net income of AED 9,428 annually.

Looking at property selling prices over 2005 and 2006, property has appreciated 20% on average annually in Dubai.
 
Capital Appreciation:
 Increase of 20% annually: 480,000 * 0.2 = 96,000

Return on Investment: Mrs. Ivanova had a fruitful return of 118% on her initial investment of AED 96,000 in just 2 years. 

Interest only Mortgage: 17,360 (Rental return) + 96,000 (Capital appreciation) =
AED 113,360

Return on Investment: 113,360 / 96,000 (Down payment) = 118%
 
Mrs. Ivanova still had a beneficial return of 109% on her initial investment of AED 96,000 if opted for the re-payment mortgage.

Re-payment Mortgage: 9,428 (Rental return) + 96,000 (Capital appreciation) =
AED 105,428

Return on Investment: 105,428 / 96,000 (Down payment) = 109%

In either case Mrs. Ivanova took advantage by investing in the Dubai property market and Dubai is still a growing and an appreciating market of the future.