Dubai: There may not be that many of them around, and those who are seem to still be doing well for themselves.

The average monthly base salary of a middle to senior ranking real estate professional in the UAE dipped slightly to Dh37,965 from Dh38,351 last year, which may still be seen as good going given that the sector is yet to turn itself around. The numbers are based on the annual findings of a survey conducted by Macdonald and Company, Middle East, a specialist recruitment consultancy concentrating on the property and construction sectors.

Moreover, 30 per cent of the respondents in the survey actually received an average monthly base salary increase from the 25 per cent who said the same last year. The full findings — currently in its fifth year — will be released today at Cityscape Global.

So, who's recruiting? "Despite the challenging climate we are working on several instructions to recruit and they are predominantly ‘replacement' roles and tend to be for property managers, facilities managers, asset managers and risk managers," said Ben Waddilove, director at Macdonald and Company.

"Clients are not rapidly expanding their teams but looking to maximise their skill base and there are a number of high-calibre candidates available."

For those with existing jobs, a good 40 per cent managed to get a bonus — but down from 44 per cent last year — in the past 12 months.

However, 21 per cent who participated in the survey were made redundant during the same period. But here's a silver lining — 78 per cent managed to find a job soon afterward.

Continuing migration

Meanwhile, the wider geo-political and financial climate is also leaving its mark on where real estate professionals are headed and why.

"We were pleased with the overall response to our survey this year — 35 per cent up on last year — and I believe this reflects a continuing migration into the region and also a general movement from troubled parts of the region towards Dubai, Abu Dhabi and Qatar, where most of the respondents are based," said Waddilove.

"We also noted that 66 per cent of those surveyed have been in the region for five years, illustrating a tendency for those who came in the boom years to remain."

Qatar could soon start figuring more prominently in their plans, with all that is to happen in the country over the next decade.

"Qatar has extensive ambitions to develop some serious projects in and around Doha — World Cup related and otherwise — and to acquire and manage trophy assets abroad both directly and through fund structures," said Waddilove.

Consultancies

"As a result we are seeing the most demand for candidates with development skills from developers and consultancies."

It won't be any surprise that the demand is being fed by some of the best packages available in the region right now. But there is one caveat.

"As with many GCC government companies and institutions, there are constant restructures, so job security may be questionable," said Waddilove.

For prospective job seekers looking strictly at the short-term priorities, that need not be such a disincentive.

Far east beckons

  • Only 12 per cent of respondents to this year's survey anticipate economic activity in the next 12 months to decrease, while 48 per cent believe it will remain unchanged.
  • More than 50 per cent of respondents are considering relocating to India or the Far East due to the increased economic activity.