Gulf could face shortage of real estate professionals

DUBAI: The real estate industry in the Gulf region could face shortage of qualified professionals as it witnesses an unparalleled boom, according to a study.

The study by University of Wollongong in Dubai (UOWD) said that developers were finding it difficult to find skilled professionals, despite offering salaries and perks that were among the highest in the region, WAM news agency reported on Thursday.

"There has been a tremendous increase in the number of property developers and real estate agents, creating a strong demand for professionals in all aspects of property developments and management," said Marwan Bin Ghalita, CEO of Real Estate Regulatory Authority (RERA).

"The real challenge is not the execution of the projects but to find people with the right skills to maintain and service the real estate sector," said David Rome, president of UOWD.

In 2007, professionals working in the Middle East real estate sector saw their salaries rise by 14.5 to 22.1 percent, according to a salary survey released last year by Macdonald and Company, a recruitment consultancy.