Business | Construction
UAE real estate firms back in recruitment mode
Coming months likely to see all-round improvement in sentiment
- By Nicole Walter, Features Editor, Property
- Published: 00:00 October 1, 2009
- Image Credit: Shutterstock
- There has been a significant increase in the placement of strategically important executives
The notion that there are way too many people chasing the very few jobs in the market does not hold water any longer. At least it is no longer the case when it comes to positions becoming available again. Requests for talent scouting in the UAE real estate and construction sectors have increased significantly in the last two months, and leading recruitment agencies are starting to receive ten times the number of calls compared to six months ago.
"The theory that there are 250 highly skilled engineers sitting at Lime Tree Café sipping coffee is long gone. That water has been flushed through the system. They have either returned home, moved around the GCC, or were re-employed here," says Andrew McNeilis, managing director for the GCC, Talent Partners International.
After the heavy redundancies undertaken at the beginning of this year, real estate companies are now getting back into recruitment mode, albeit in reduced numbers. Lest we get carried away, it must be emphasised that it is far from being ‘the phone ringing off the hook scenario' experienced two years ago.
Yet, recruitment firms still see potential in what is happening right now. "Projects and recruitment should unfreeze by November and it will start to get busy again, there is cautious optimism regarding property and infrastructure development," says McNeilis. "There is no hiring frenzy (now), it is still tough out there. It is as if this region has two gears - reverse and full throttle."
Looking for trends
Ahead of November, those interested in the real estate market and recruitment agencies - would be looking to spot trends at this month's Cityscape Dubai 2009. Of particular interest will be finding out what the developers are up to? Will they continue to make do with less and maintain reduced workforce?
Related Links
"Cityscape and indeed the coming months running into the second quarter of next year will be very interesting," says Richard Vaughan, managing partner at VHS International, a construction cost consultancy. He is optimistic of an all-round improvement in sentiment and draws on the fact that works related to infrastructure development continue to make marked progress. "A lot of projects are coming back online," Vaughan adds. "So many lessons have been learnt - Dubai is moving in the right direction, many clients after Ramadan are likely to say ‘This is a new year, let us move forward'."
Realistic approach
Yet it would be rash to expect developers and real estate agents to call up recruitment agencies looking for marketing and sales personnel to staff their new developments. Those categories have been downsized and will continue to be smaller until there is a full-scale regeneration of activity in the real estate sector.
And gone are the days when buyers got excited about big billboards encouraging them to flock to a developer's or agent's office. "Business development and sales managers seemed more like order-takers now these departments are being streamlined," says McNeilis. "Companies are more realistic, there are less opportunities in ‘fluff marketing'."
Clients are now asking for someone with the knowledge and technical background to make sure their marketing staff can crunch the numbers for success.
"It is not just about personality any more, but professionalism, someone who is good at seeing through the whole process," McNeilis says. "Customer service is also being revolutionised at the moment."
"I am not brave enough yet to say the recovery has started, but we have seen some very encouraging signs. There has been a significant increase in the placement of strategically important senior executives such as CFOs and HR directors, which could well herald the preparation by companies for the upturn in their businesses," says Mike Hynes, managing partner at Kershaw Leonard.
As a placement strategy, Kershaw Leonard recruitment firm is keen to stay in touch with candidates leaving Dubai for their home countries if they are interested in returning when the economy improves.
Increased activity at the top end
More from Construction
More from Business
Covering freehold,rentals,investments,market round-up and much more
Business Editor's choice
-
Saudi-Bahraini economic ties hit new high
Whilst press reports continue speculating on a possible new political structure defining ties between Saudi Arabia and Bahrain, facts on the ground confirm ever- stronger economic ties between the two neighbours
-
Cupid targets the Fed with early tweets
Declarations range from pure romance to cute overtures and racier fare
-
Do unemployment figures flatter to deceive?
Jobseekers and recruiters give out mixed signals ranging from optimism to downright despair even as official data show recovery
