Salaries Boost Dubai Property Sector

by The First Group
Those who work in property investment in Dubai could be reaping the rewards of a bolstered pay cheque, after a survey revealed that salaries in the real estate sector are still strong. According to Business 24-7, the average base monthly wage of those who work in real estate in the Middle East stands at around UAE dirhams 38,040 (£6,502) per year, figures from Macdonald and Company showed. This is despite pay in the sector taking a hit due to the ongoing downturn.

Furthermore, 41 per cent of Dubai real estate professionals, which could include those who also work in investment in Dubai properties, received bonuses on top of base pay during 2009. A total of 2,083 Middle East real estate professionals were surveyed for the research earlier this year, which is the largest response ever seen by the polling company. William Buck, director at Macdonald and Company, told the news source that there are more job opportunities to come within the sector, "particularly for those on the finance side".

In further news, those involved in property investment in Dubai may welcome news that a number of experts in the region have been singled out for praise. In recognition of their successes in the field, ETA Star selected its most consistently impressive agents for "extraordinary sales" figures in the first half of 2009.

As part of the group's Star Select Club Half Yearly Rally, which took place at the Metro Deira Hotel, real estate organisations like Evgeny Gribov, Remax Wataniya and Engel & Veoelkers were honoured. The awards could be seen as reflective of the current status of the Dubai property investment sector, which is currently witnessing a resurgence of interest in Dubai apartments and houses, and its ability to perform well for developers and agents alike.

Abid Junaid, executive director at ETA Star Properties, said: "Our strongest ally in our success has been our agents ... We value [them] as our business partners and thank them for their support and commitment."

In January, it was announced the Star Metro Deira Hotel had retained its status as a deluxe accommodation option for a second consecutive year.

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Article kindly provided by The First Group - Dubai property specialists www.thefirstgroup.com