Middle East Real Estate Salaries
From our data, Salaries in the Middle East have unfortunately been hit the hardest, and both Real Estate and Construction professionals will likely see another tough year. Pay cuts have been felt across the board and it is unlikely that employers will be in a hurry to hike salaries back to 2019 levels.
Some of the master developers have already consolidated that further cuts are probable, especially at the senior level.
In contrast, other GCC countries and Saudi Arabia have seen limited fluctuations mainly based on fewer professional talent pools and/or being lesser desirable locations. We expect to see continued demand for development and investment professionals in Saudi over 2021, whilst base salaries, by and large, remaining the same.
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Key Middle East Salary Findings
Median monthly salary
reduction in those receiving a salary rise since the pandemic
gender pay gap
Average Middle Eastern salaries by Sector
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Average salaries, by Asset Class
Hospitality and Leisure awarded the highest average salary in the Middle East, however the pandemic could see this lessen and Industrial / Logistics come out on top.
The most in demand professions in the Middle East driving Salaries
Where the UAE has been the hardest hit in the region from the pandemic, Saudi is well known to be the immediate driving force of the Real Estate and Construction industry in the Middle East. With limited hiring and increased competition amongst candidates, most employees appreciate their chances of achieving the eye-catching remuneration packages previously offered in the kingdom.
We expect to see continued demand for development and investment professionals in Saudi over this year, with base salaries by and large remaining the same.
Perhaps hiring managers can revisit other incentives within compensation packages such as flexibility on remote working, further annual holidays and so on (see data).