As Dubai real estate grows, so does employment
Professionals are still very attracted to this region
As the real estate market in Dubai shows no sign of slowing down, employment in the sector is also looking up, according to Macdonald & Company, a leading property recruitment specialist in the region.
While projects are already getting launched by both private and government developers on a weekly basis, the real estate sector in the UAE is also poised for a surge in growth and confidence if Dubai were to win its bid to host Expo 2020.
The increase in activity in the sector has also led to a hiring spree among real estate companies.
“Many long term developer and consultancy clients are now beginning to hire mid to senior level individuals again for feasibility studies and due diligence, design and planning and development and delivery roles,” said Ben Waddilove, director, Macdonald and Company.
“Salary levels are holding firm in general, and we predict a steady increase in the coming months in line with inflation,” he said.
According to Waddilove, there is currently a large pool of labour in the MENA region, and there remains a strong demand for Arabic-speaking candidates with experience of all facets of the development cycle.
There is also a strong supply of qualified candidates from the UK, Europe and the US that are still seeking opportunities here, although the number of such applications has reduced as their respective economies recover.
The Arab spring has also hugely benefited Dubai with the influx of large amounts of cash seeking investment opportunities here as well as families seeking employment and political stability here.
“Professionals are still very attracted to this region for financial, career and family reasons,” Waddilove explained. “The current situation is definitely improving and we expect that the Gulf States will continue to achieve significant GDP growth next year.”