New survey shows significant increase in business confidence (+17 per cent), 5 per cent more basic salary increases and 8 per cent more bonuses given as current average base salary of real estate professionals in the ME remains in line with last year's average
Macdonald & Company, the leading property recruitment specialist, has unveiled today (April 10, 2013) the sixth edition of their annual 'Middle East Rewards and Attitudes Survey'. The yearly study has revealed that the average base salary of regional real estate professionals across all disciplines is AED 36,293 per month as compared to the AED 37,965 per month figure posted in 2011. The 'Middle East Rewards and Attitudes Survey,' which has been identified as the most comprehensive annual survey undertaken for the property sector, was completed in collaboration with 'The Royal Institution of Chartered Surveyors' (RICS).
According to Macdonald & Company, this year's survey captured a good response with over 1,058 individuals participating in the study--reflecting a continuing migration into the region and popularity of the survey. Unsurprisingly, a greater number of the overall respondents have now been in the region for more than five years (73 per cent). An equal amount of respondents are now from UK/Europe as from Asia and the Far East. Less people are now working in Abu Dhabi (-7 per cent) and a greater proportion are back in Dubai. Continuing increases in migration to Qatar and KSA are noted but overall Dubai and Abu Dhabi are still the main places of employment.
The split of MRICS qualified surveyors working in Abu Dhabi and Dubai is still roughly 50/50 although a large proportion of those working in Abu Dhabi still live in Dubai. This may change when the new regulations are enforced later in the year, although it still remains to be seen how they will be implemented. The survey also shows that 35 per cent of subjects received an increase in their base salaries this year as compared to only 30 per cent last year; while only 3 per cent have experienced pay cuts compared to 5 per cent last year. 46 per cent saw no variance in their wages. In addition to these statistics, the study also identified that salary and responsibility, followed by job security and career progression are the most important factors in determining job satisfaction.
"Professionals are still very attracted to this region for financial, career and family reasons, particularly when compared to current available opportunities in the UK, Europe and the US, " said Ben Waddilove, Director, Macdonald & Company. "The 'Middle East Rewards and Attitudes Survey' offers an exhaustive report on the salary trends within the real estate industry in addition to important insights on the outlook of employees."
"We remain committed to providing honest and consultative advice to all of our clients and candidates--offering a value added service, thereby making the recruitment process as smooth as possible. The survey fully utilizes our extensive network of contacts and existing goodwill within the market place. We are proud to launch this year's 'Middle East Rewards and Attitudes Survey,' which reflects our knowledge and insights into the unique way that business is done in this part of the world," concluded Waddilove.
Free copies of the executive summary and key findings of the survey are available online at www.macdonaldandcompany.com and www.rics.org. Regional clients, professionals can acquire a more comprehensive online statistics package ideal for benchmarking, budgeting and planning purposes at a cost.
-Ends-
About Macdonald & Company
Macdonald and Company is the leading professional recruitment consultancy for the real estate, built environment, energy and environmental sectors. Established in 1994 and headquartered in the UK, the company applies local knowledge with true global connection through its offices in Asia-Pacific, the Middle East and Africa. The company has specialist teams that act for every class of organization owning, occupying, financing or advising on property, construction and engineering - developers, investors, institutions, funds, banks, consultancies and contractors. Macdonald & Company is also the preferred recruitment partner of the Royal Institution of Chartered Surveyors (RICS). The company's Energy & Environmental division acts for clients across oil and gas, maritime, utilities, natural resources, power generation, renewable energy and sustainability sectors. Macdonald & Company is a subsidiary of the London Stock Exchange quoted Prime People Plc.
For more information, please contact:
Macdonald and Company
Office 403, Code Business Tower, Al Barsha 1, Dubai, UAE
P.O.Box 282196,
Tel: +971 4 378 5600
Email: info@macdonaldandcompany.com
Website: www.macdonaldandcompany.com
CommuniGate Middle East
P.O.Box 500270, Dubai, UAE
Tel: +971 4 4546093
Fax: +971 4 3612432
Email: info@communigateme.com
Website: www.communigateme.com
© Press Release 2013
