Being the biggest in terms of the job losses within the industry so far, Dubai Properties laid-off 600 positions, it has been revealed.

One of the affected employee said “I got the boot last month. Six hundred of us were mere redundant. They did it in stages, and has affected personnel at all subsidiaries across the group.”

According to the source, two options were put before the employees – a resignation letter or a termination letter.

“On choosing termination letter, you would not get a recommendation, they said. In short, they did not want to say that you are being made redundant,” an employee said.

Dubai Properties is a member of Dubai Holding, possessing major projects such as the popular Jumeirah Beach Residence and Culture Village, and is following the footsteps of other real estate majors such as Nakheel and Tameer in trimming its workforce to balance the reducing investor interests.

Posted on 10/12/2008

Read more news

> Sorouh awards contract for scheduled completion of Alghadheer
> Property prices in Dubai record 47 percent fall in Q3
> Dubai office rents remain stable last month
> Land Department links real estate sector with Strategic Plan 2015
> Nakheel confirms handover of Marina Residences by month-end
> Burooj to develop properties for mid-income sector
> Al Faraa delivers completed LGC project at Jumeirah
> Bawabat Al Sharq in Bani Yas City 40 percent complete
> Bloom Gardens project wins CNBC Arabia Property Award 2009
> Abu Dhabi studying plans for 224-storey skyscraper

Property Articles

Want to Invest in Dubai property? Find out about the vacation rentals for your next holiday in Dubai Looking to buy property in Sharjah? Priceless properties in Abu Dhabi Know all about Ajman Property What you need to know before purchase Dubai property What are Dubai Free hold properties? Dubai Palm Islands Burj Dubai - tallest building in the world Know about property in Ras Al Khaima What Dubai real estate agents can do?