What is the ruling on investing in real estate, whereby an investor pays an amount for a share to purchase a residential building in Dubai, lease it out, and then distribute the profits to investors according to their contribution?

It is permissible for a group to participate in purchasing a property and then leasing it out and benefiting from its income. This is known as "Sukuk Al-Ijarah" (leasing certificates), which are financial instruments representing common shares in the ownership of leased assets that generate income. A resolution concerning these has been issued by the International Islamic Fiqh Academy. It is permissible to trade and sell these certificates, and the owner of the certificate is entitled to their share of the return. It is necessary to ensure the existence of the property and its lease, and the partnership should be formally documented with official contracts. The investors' money is a trust (amanah) and may not be disposed of except with the owner's permission.