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Marketing Director – Real Estate
Industry: Property
Location: Dubai, UAE -
Development Manager
Industry: Property
Location: Dubai, UAE
Western talent flocking to UAE
by Joel Bowman on Tuesday, 13 May 2008
TALENT MAGNET: The UAE is attracting top real estate executives from places such as the UK and Spain as Western markets slump, Dobrin said. (Getty Images)
The UAE is set to become a magnet for top real estate talent as markets in the West languish and demand for skilled executives and qualified salespeople intensifies in the Gulf Arab state, an recruitment executive told ArabianBusiness.com on Tuesday.
Ian Dobrin, managing director of OverseasPropertyJobs.com, said expatriates from countries such as England and Spain were flocking to the UAE as the Emirates' real estate market continues to boom.
"There is huge incentive for talented individuals from the West, where markets are coming off the boil, to pursue opportunities here in the UAE," Dobrin said on the sidelines of Cityscape Abu Dhabi.
"Firms here in the Emirates are offering attractive basic packages, some between 8,000 dirhams and 20,000 dirhams per month, and that's before commission, in order to secure top talent from the West."
While many markets in the West, notably those in the US, UK and Spain, have been hit hard by the subprime crisis and ensuing credit crunch, the Gulf real estate sector, flush with petrodollar liquidity, is continuing its rapid expansion, Dobrin said.
"The slowdown in the West is highlighting the opportunities for employees here in the UAE," said Dobrin, adding that major UAE real estate companies are using the advantage of tax-free wages, combined with the UAE's lifestyle, to lure talent from sales positions all the way through to top executives.
"The market is relatively young and hungry for real estate employees that have demonstrated prowess in developed markets."
As markets in the West continue to cool down and the UAE ramps up efforts to meet growing demand, the influx of top talent looking to capitalise on the coming boom will likely continue, Dobrin said.
The UAE is suffering a massive housing shortage with demand fuelling the many boomtown developments, particularly in Dubai and Abu Dhabi.
According to recent estimates made by Mohammed Khalifa Al-Muhairi, chairman of the committee setting up Abu Dhabi-based Tasweeq Company for Real Estate Development and Marketing, the UAE's housing supply shortage risked hitting 300,000 by 2017.
RELATED: UAE facing 300,000 housing shortfall by 2017
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USER COMMENTS (3 COMMENTS)
Chips On Shoulders and Blind Statements
Posted by Questioning on 19 May 2008 at 12:08 UAE time
Angry Academic - what a blinding and broad statement you make that is both insulting and arrogant. "Most of us have PhDs and work in the Higher Education sector" !!! Let me give you an insightful piece of information - there are MANY MANY westerners working across MANY MANY industries that have given years of their life to help build the GCC into what it is becoming today.
Some underpaid, some overpaid, some not paid at all. And yes, some of us have married here, had children here so don't be on your high-horse regarding gaining fluency in Arabic and insights in Arab-Islamic culture. Don't be so rude about other people's efforts or what drives those efforts and if you lose the chip you seem to have on your shoulder you might present yourself in a more appropriate manner that an employer would feel it worth paying you commensurately and not just in reflection of your revered PhD status.
Sorry to be so pointed in this posting but your comments are too arrogant and too dismissive of so many other people here in the Gulf. As you so rightly point out "when the crash hits the Gulf ...." - remuneration is based on sustainability and risk - the property industry carries risk, the educational sector carries committed sustainability.
Posted by Questioning on 19 May 2008 at 12:08 UAE time
Angry Academic - what a blinding and broad statement you make that is both insulting and arrogant. "Most of us have PhDs and work in the Higher Education sector" !!! Let me give you an insightful piece of information - there are MANY MANY westerners working across MANY MANY industries that have given years of their life to help build the GCC into what it is becoming today.
Some underpaid, some overpaid, some not paid at all. And yes, some of us have married here, had children here so don't be on your high-horse regarding gaining fluency in Arabic and insights in Arab-Islamic culture. Don't be so rude about other people's efforts or what drives those efforts and if you lose the chip you seem to have on your shoulder you might present yourself in a more appropriate manner that an employer would feel it worth paying you commensurately and not just in reflection of your revered PhD status.
Sorry to be so pointed in this posting but your comments are too arrogant and too dismissive of so many other people here in the Gulf. As you so rightly point out "when the crash hits the Gulf ...." - remuneration is based on sustainability and risk - the property industry carries risk, the educational sector carries committed sustainability.
Are You Serious About the Salary Being Attractive ????
Posted by Questioning on 18 May 2008 at 13:04 UAE time
Is the interviewee truly serious about 8,000AED - 20,000AED being attractive basic packages? In what area of expertise does this person think this will attract "top talent from the West"??
Posted by Questioning on 18 May 2008 at 13:04 UAE time
Is the interviewee truly serious about 8,000AED - 20,000AED being attractive basic packages? In what area of expertise does this person think this will attract "top talent from the West"??
Talent? What Talent?
Posted by Angry Academic, Manama, Bahrain on 13 May 2008 at 19:31 UAE time
'Western talent flocking to UAE', eh? Rats abandoning the sinking ship in search of bones to gnaw elsewhere, more like.
There are Westerners out here with a genuine commitment to developing mutual understanding and respect between the Western and the Arab worlds. Most of us have PhDs and work in the Higher Education sector; some of us have gained fluency in Arabic and deep insights into Arab-Islamic culture. But we're so poorly remunerated compared to sectors like Property that it's hardly worth being out here any more.
When the crash hits the Gulf the GCC countries will see who their real friends are.
Posted by Angry Academic, Manama, Bahrain on 13 May 2008 at 19:31 UAE time
'Western talent flocking to UAE', eh? Rats abandoning the sinking ship in search of bones to gnaw elsewhere, more like.
There are Westerners out here with a genuine commitment to developing mutual understanding and respect between the Western and the Arab worlds. Most of us have PhDs and work in the Higher Education sector; some of us have gained fluency in Arabic and deep insights into Arab-Islamic culture. But we're so poorly remunerated compared to sectors like Property that it's hardly worth being out here any more.
When the crash hits the Gulf the GCC countries will see who their real friends are.
