Dubai is currently one of the most popular real estate investment destinations among Ukrainians. There’s no rental income tax, the market is growing rapidly, and apartments and villas are becoming a reliable means of preserving capital. But before making a purchase, any investor faces a key question: how to convert hryvnias to dirhams to pay for real estate in the UAE?
We’re not talking about small sums for a trip, but rather tens and hundreds of thousands of dollars in equivalent. Speed, exchange rates, and security are all important. Let’s explore the options and what to choose for a real estate transaction.
What are the specifics of real estate translation?
-
Large sums. Transferring 2-3 thousand dollars is one thing, but 100 thousand or more is quite another. Every percentage point in the exchange rate can add up to several thousand dollars in overpayment.
-
Strict deadlines. Developers in Dubai are disciplined: the payment date is specified in the contract, and late payment can result in a fine or even the collapse of the deal.
-
Reliability. The funds must reach the developer or your UAE bank account. Any errors or delays in transfer are unacceptable.
Main options
Bank transfer
Using SWIFT, you can send money directly from a Ukrainian bank account to an account in the UAE.
Pros: official nature, ability to verify the origin of funds.
Cons: high fees, intermediary banks, long crediting times (up to a week). Plus, the hryvnia/dollar/dirham exchange rate is often unfavorable.
This option is suitable for those who want to maintain a clean record and have time to spare.
Exchange services
In practice, these are the ones most often used by buyers. The scheme is simple:
-
In Ukraine you transfer hryvnias.
-
In Dubai, you receive dirhams in cash or by transfer to your account.
What’s convenient:
-
the rate is closer to the market rate,
-
the speed is higher than that of banks,
-
minimum of formalities,
-
You can fix the rate in advance and not be afraid of fluctuations.
Havala
This is a common systеm in the Middle East. The idea is simple:
-
In Kyiv, you give hryvnias to an intermediary,
-
In Dubai, his partner hands you dirhams.
Advantages: speed (sometimes you can receive the money the same day), flexibility in amounts, and lack of unnecessary bureaucracy.
For real estate transactions, hawala is convenient because it allows you to quickly close a payment on an apartment or villa, especially if the deadline is tight.
Table to table
Ideal option for large transactions.
How it works:
In Kyiv, you hand over hryvnias, and at the same time, in Dubai, you receive dirhams. No waiting or delays. Everything happens simultaneously, as if you were sitting at the same table in different countries.
When to use:
-
for amounts of tens of thousands of dollars,
-
when payment is due on a specific day,
-
when absolute security of transmission is important.
Example:
An investor from Kyiv purchased an apartment in Downtown Dubai. The contract required a down payment of 400,000 dirhams within five days.
The money would have taken a week to arrive through the bank, with exchange rate losses. Ultimately, he opted for the “desk-to-desk” approach: he transferred hryvnias in Kyiv, and a couple of hours later, he received dirhams in Dubai and made the payment on time. The transaction went through without a hitch, and the investor saved about 3% on the conversion.
Result
Transferring hryvnias to purchase real estate in Dubai isn’t just a simple money transfer home. The amount, timing, and absolute reliability are crucial. The key is to plan your transfer in advance, fix the exchange rate, and choose trusted partners. This will ensure a smooth and stress-free purchase, saving you both money and stress.
