According to Macdonald & Company, the leading recruitment consultancy, which focuses on the real estate industry, the demand for property management professionals in the real estate sector is bound to rise this year.
The company made this statement, when launching the Salary, Rewards and Attitudes Survey 2009.
According to Matthew Taylor, International Director, Macdonald & Company, the Middle East property market continues to evolve at an astonishing pace, and the main objective of the company is give an indication to both employees and the employers about how things stand as of now.
Salaries have met with an average increase of 12 percent last year and 14.2 percent in 2007. This is directly related to the exponential growth seen in the real estate sector of the region over the last couple of years. Therefore, with the current global economic situation and the correction in property market, it is possible that the average salaries may decrease this year, he said.
During the past 12 to 18 months, speculators have been driven away, and financing for real estate developers and investors is much harder to come by. This will ensure that developments, particularly residential, will be more end-user driven.
Several developers in the UAE are now almost completing their flagship projects, and are seeking specific skill-sets to help them manage their completed buildings in an efficient and cost-effective manner. Therefore, specialized departments such as facilities, asset and property management are likely to either undergo expansion or will be created with the focus of the market changing from delivery to management.
With the market getting more competitive and availability of more products, leasing teams and office agency will be more in demand. The focus within construction too has drifted towards cost-saving, which implies that skilled commercial managers, accountants and claims professionals are much in demand. Posted on 8/8/2009
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