Property sector salaries rise 15pc in Middle East
A recent study published found that salaries in the Middle East's property sector rose by an average rate of 15 per cent over the last year.
The study, titled the 'Middle East Salary Guide', was launched at Dubai's Cityscape 2006 by Macdonald & Company according to Khaleej Times.
The Salary Guide attributes the rise to the unprecedented number of development projects in the region, which in turn has led to a greater demand for development managers, project managers and property professionals in the realty sector.
"The Salary Guide aims to give those involved in the property industry in the Middle East an overview of current packages,” said William Buck, International Director, Macdonald & Company.
"Based on our research, average salaries in the sector across the Middle East rose 10 - 15 per cent over the last 12 months. Further, Saudi Arabia and Kuwait have reported 10 per cent higher average salary than other GCC countries," Buck added.
"In addition to shortages of key skills, the recent easing of restrictions on changing jobs within the UAE has increased movement among professionals."
The guide has been divided into two sections, Development/Real Estate roles and Technical roles, and has analysed 13 positions from entry-level to senior positions.
- Salaries within regional property and real estate sector to rise significantly in 2008
- Demand for property management professionals within Middle East real estate sector to rise in 2009, says Macdonald & Company
- Demand for high calibre property professionals in the Middle East to rise in 2010, says Macdonald & Company
- Prospects for salary rises brighten in the Middle East
- Macdonald & Company unveils 4th ‘Middle East Salary Survey’ at ‘Cityscape Global 2010’