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The UAE real estate boom has included its job market, with property consultancy emerging as the most coveted position in the country, according to LinkedIn.
According to the findings of the professional network’s annual ‘Jobs on the Rise’ list in the UAE, which highlights the fastest-growing roles in the country, real estate consultants who specialise in residential and investment properties are the most sought-after workers.
This comes as no surprise, with Dubai’s real estate landscape booming in 2023, which resulted in the emirate beating out London and New York to become the world's biggest market for $10 million plus homes, according to a Knight Frank report, out earlier this week.
This should come as no surprise, as the sector has continued to grow over the past five years and is defining the future of work. In 2023, the boom in Dubai’s real estate landscape saw the emirate beating London and New York to become the world's biggest market for $10 million plus homes, according to a Knight Frank report out earlier this week.
Data shared by global property consultancy revealed sales of $10 million plus homes in the emirate rose to 431 residences in 2023, a growth of 92.4% when compared to the previous year’s 224, with the total value of sales above this price point growing by 91% last year to reach $7.6 billion.
Dubai also drew demand from ultra-high-net-worth individuals, which further super-charged the $25 million plus, or super-prime market last year. The number of homes trading at this uber-swanky end of the market doubled in 2023 to 56 deals worth $2.3 billion.
Jobs on the rise in the UAE
Coming in at second place on the ‘Jobs on the Rise’ list are partnership specialists, which can range from business development to digital marketing roles, according to LinkedIn.
Advisory roles are also a hot ticket, with mortgage advisors coming in at number three, followed by private client advisors in the retail banking, credit, and financial services.
Growth managers, specialising in search engine optimisation (SEO) skills, and expansion strategies, round up the top five positions.
Other coveted skillsets in the UAE include BIM architects, sales development representatives that specialise in cold calling and lead generation, banking officers, front and back-end developers.
Tax advisors and auditors are also in demand with the UAE following the implementation of the federal corporate tax last year.
GCC a top choice for jobseekers
The LinkedIn research also revealed professionals in the UAE and Saudi Arabia prefer working in the region rather than relocating to Europe or the US, with 82% of surveyed professionals expressing this sentiment, citing the standard of living (46%), attractive lifestyle (35%), and opportunities for professional growth (31%).
Findings further revealed that the UAE emerged as one of the most resilient international markets when it came to hiring, with a 0.3% annual increase in employment, up by 30% compared to pre-pandemic December 2019.
This also led professionals to reclaim their careers with a 62% of them stating they were either actively looking for a new job, or planning to start looking for one soon in 2024.
Better salaries (42%) and the need for a better work life balance (33%) were the top two reasons for professionals seeking a career move.
However, 73% of professionals in the UAE and Saudi Arabia also stated they were also considering finding new homes due to rising rents, underscoring the correlation of affordable housing with retaining talent within the region.
Future of work
There was also a growing understanding of the importance of skills in the UAE labour market, with more professionals highlighting their skills instead of degrees when looking for a new job (83%).
Professionals were also focused on upskilling, with 76% of them saying they would take on more stretch projects at work to diversify their skills and spend more time than usual doing online courses to boost their career progression (72%).
Following the last few years of uncertainty in the workplace, 84% of UAE professionals are keen to future-proof their careers by focusing on improving their skills.
(Writing by Bindu Rai, editing by Seban Scaria)
