Mike Bridge, organizer of Arabia 2008 comments, “Dubai and its neighbouring countries are having an influx of visitors. Over 34 million passengers flew into Dubai airport in 2007 and with a new terminal opening shortly, and its brand new airport estimated for 2010, by 2015 they are expecting over 120 million passengers to descend into the Dubai region every year. Remember this is before we even add all the investors, holiday makers, retirees and speculators from overseas who also are looking for a real estate bargain.”
“At Arabia 2008, visitors will be able to see for themselves the abundant lifestyle opportunities available and can meet experts who can give information about living, working and buying real estate in the UAE, GCC, Morocco and Egypt. We will be putting on a number of free daily workshops at the show covering lifestyle, employment, commercial investments and short term rental opportunities presented by a number of experts, plus films on Dubai and all its latest attractions and opportunities” continues Bridge.
Those looking for employment in the region can speak to Macdonald & Company, a leading recruitment consultancy that focuses solely on the property industry. In 2006, the unprecedented growth in the real estate market prompted Macdonald & Company to publish a four-page salary guide in an effort to set an industry benchmark on compensation packages and illustrate the prevailing industry statistics. The 2007 Salary Survey revealed an average rise of 14.2 per cent in salaries across all disciplines in the Middle East real estate sector.
"We are in a unique position as the number one property recruitment specialist to provide previously unknown information to the real estate industry through this Salary Survey," said William Buck, International Director, Macdonald & Company. "By providing relevant statistical data and credible benchmarks to the entire property industry in the region, we have established ourselves as the pre-eminent provider of property recruitment advice in the GCC. Employers who take time to study the results of the survey will be rewarded with a unique insight into the current position of the market not only in terms of remuneration but also the drivers for changing employer together with bonus, benefits and other trends.”
“Our objective is to provide the best career options to industry professionals together with research and consultancy services that enable the top companies in the GCC to attract and retain the best talent in the market. The Salary Survey is undertaken in order to provide employers and employees alike with a valuable insight into the trends and remuneration in the market” adds Buck.
There are a number of reasons why the Middle East region is an attractive offering for Brits, combined with the fact that it is a tax free haven, has an excellent climate, beautiful beaches, ample opportunities and relaxed way of life there is no wonder why so many people are passing through the region. The UAE property scene is still very buoyant and it is still a good time to buy. The influx of mass tourism that will flood the country will provide an additional need for short term accommodation. Today there are just over 40,000 hotel rooms in Dubai which has one of the top occupancy rates in the World. The short term rental market will be an area to watch with great interest, with giants like RCI now entering the market.
The show will be showcasing properties from an array of locations including Dubai, Abu Dhabi, Ajman, Sharja, Ras Al Khaimah, Qatar, Kuwait, Egypt, Morocco and more. Lisa O’Brien, Director of First Rate FX, sponsors of Arabia 2008 adds, “With the current strength of the Pound against the US Dollar, thousands of people are buying holiday homes or looking for an investment. Many do not realise that their dream home or investment could actually cost them less if they used an independent foreign exchange provider for the currency transaction. Using a currency specialist such as ourselves rather than a High Street bank to convert and transfer funds could make a difference of up four per cent on the exchange rate. Even if you are not looking to buy at the moment, you can still take advantage of the current exchange rate by locking in with a forward contract for up to 24 months ahead. With no commission or transfer fees, you could save thousands of pounds.”