GNcareers, from Gulf News

Gulf’s real estate professionals are doing fine

Anyone thinking of making an exit from a career in local or the Gulf’s real estate should give pause. Average salaries in mid to senior management levels are holding stable at Dh44,392 a month, while annual bonuses are averaging Dh84,498. This is why 56 per cent of respondents in the annual survey by Macdonald & Company, a property recruitment consultancy, rate the Gulf markets as an ideal location to be working in. The survey, done in co-operation with Royal Institution of Chartered Surveyors, focuses on the economic climate, employment trends in the property sector, as well as salaries, rewards and attitudes in the Mena (Middle East and North Africa) region.

“Despite a cautious employment market, entrepreneurial economies such as the UAE will prove resilient and quick to turn around, and of course, the ‘Expo factor’ will kick in,” stated Ben Waddilove, Director, Macdonald and Company. “The UAE remains a choice destination for many property professionals from around the globe and we feel that although overall this will be a cautious year — the medium term outlook is still strong.”

Despite the tough market situation, 51 per cent of respondents said they received a base salary hike, while 75 per cent were satisfied with their current employment. Achieving professional qualifications led to a further increase in pay for 23.5 per cent of respondents.

This is why 56 per cent considered the Gulf as the ideal location for financial reasons, while only 15 per cent reckoned they would consider returning to their country of origin. And 27 per cent of respondents anticipate an upturn in economic activity.

Source: Staff Report,