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Wed 13 Apr 2016 01:50 PM

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Revealed: MidEast real estate execs earn average of $12,086 per month

New survey by Macdonald & Co says average base salaries have fallen marginally compared to last year

Revealed: MidEast real estate execs earn average of $12,086 per month

The average monthly salary for the Middle East real estate sector is AED44,392 ($12,086), with annual bonuses averaging AED84,498, according to a new survey by recruitment firm Macdonald & Company.

The average salary for 2015, which was slightly down on the AED44,559 per month figure for 2014, was revealed as part of the 9th Middle East Salary Survey for the real estate industry.

It said that 56 percent of respondents consider the GCC region the ideal location for financial reasons.

Although the survey showed that 75 percent of respondents are satisfied with their current employment, there are mixed sentiments regarding overall market confidence, and the employment market remains cautious due to the decline in oil prices.

"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," said Ben Waddilove, MRICS, director, Macdonald and Company.

"There is sound reason for optimism for the Dubai economy in particular, which has a strong fundamental base and an excellent track record for delivering high quality hospitality and retail projects," he added.

The survey said that 27 percent of respondents anticipate an upturn in economic activity this year, adding that 51 percent said they received a base salary hike in 2015.

"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," added Waddilove.

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