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Salary gulf

Catherine Deshayes

Salaries in the real estate sector in the Gulf region are surging along with experienced workers both of which are improving the industry, according to a new report...

More workers in the industry are employed on a permanent basis than ever before and most work in Dubai, says a survey conducted by MacDonald & Co.

It found that there has been a 13 per cent increase in salaries in the last year and that 94 per cent are employed in full time jobs compared with 91 per cent in 2007.

Most people work in consultancy, up two per cent to 45 per cent, while 27 per cent are developers and 12 per cent are contractors.

Compared to last year, those who took part in the study were less likely to originate from the region. Only 18 per cent came from the Middle East, compared to 20 per cent last year.

Most employees hailed from the UK, Europe, Asia or the Far East. The number of employees from the Americas and Australasia also increased compared to last year.

"Real estate in the Middle East is a well-paid sector and what is significant is that one in three workers have been in the region for two years or less and there are more and more applicants from the UK, the US and Europe. So it seems a new batch of workers is coming in," said International Director William Buck.

The surge of new workers would also bring with them skills which would help raise standards in the industry,' he said.

'There will be better quality, it will raise standards. Because of the huge boom in the industry the market is still finding it difficult, there is still a shortage of certain skills. The increase in salary levels in the sector will help,' he added.

It also found that 70 per cent of those polled worked in Dubai, a four per cent increase compared to last year, three per cent worked in Qatar, three per cent in Bahrain, two per cent in Saudi Arabia, and two per cent in Kuwait.

Source: www.propertywire.com