Jobs in Dubai

[jayeshvn]

Hello all!!!!!
My name is Jayesh Nargund. I have completed my Masters in Computer Mgmt from Pune University. I would like to know the demand for 3D Architectural Rendering? Are there jobs in this field?

[marc]

Originally Posted by leec11

hi ive been offerd a job in dubai in property sales, they have offerd me 144k basic plus commision is this good? i know rent is high but ive always sold a lot of property so i hope to make a lot in commision. whats it like with the credit crunch is it still a good sales enviroment?

who are you working for? The credit crunch has not affected the dubai property market. Coming up to summer and Ramadan things are 'slowing down' in dubai terms.

[Elphaba]

Originally Posted by marc

who are you working for? The credit crunch has not affected the dubai property market. Coming up to summer and Ramadan things are 'slowing down' in dubai terms.

Not YET affected...

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[marc]

this is true, things are starting to slow down, because of over supply in the market. these investors buy something using a deposit amount say 5-10% and try to sell it next day for 20% premium!! - they cant offord the whole amount of the unit or floor so they end up loosing all their money. when it comes to next re-payment, this market is very strange. not sure what will happen in the upcoming months..........?

[Elphaba]

There is MASSIVE oversupply in the Dubai property market with plans to build another few hundred thousand residential units. There ought to be a correction, but we'll see how long 'Dubai plc' props everything up.

This from Morgan Stanley yesterday

Dubai property prices, which have surged 79 percent since the start of 2007, are likely to fall 10 percent by 2010 as supply of real estate units outpaces demand in the Gulf emirate, Morgan Stanley said on Tuesday.
A sharper correction in Dubai's real estate sector could have a ripple effect on its neighbours in the Middle East, with shares of 12 regional property firms dropping an average 35 percent, Morgan Stanley said in a research note.
In a worst-case scenario, Dubai property prices would follow the pattern of Singapore in the late 1990s, when real estate prices plunged 80 percent in 18 months, Morgan Stanley said, calling this a "low probability event".
"We expect oversupply to hit Dubai in 2009, leading to a period of price declines," Morgan Stanley said.
"While we expect these price declines to be limited to Dubai given the level of undersupply in surrounding markets, we cannot rule out a 'contagion' effect on Middle East, North Africa property shares prices, as investor confidence suffers."
The bank initiated coverage of 12 Middle East property firms, including the region's largest by market value, Emaar Properties whose shares trade more than 100 percent below Morgan Stanley's 21.4 dirham ($5.83) target price.
Home to man-made palm-shaped islands and an indoor ski slope in the desert, Dubai kicked off a regional property boom in 2002 when it first invited foreigners to invest in real estate.
Since then, regional economic growth supported by a six-fold rise in oil prices has attracted streams of investors.
Last month, Standard Chartered Bank said Dubai was overheating because speculators were inflating prices of real estate still under construction. It recommended the emirate introduce a capital gains tax to deter short-term investors.
According to Morgan Stanley's price index, Dubai property prices soared 25 percent in the first half of 2008, and are up 79 percent since the beginning of 2007.
"Prices have been driven by a combination of genuine demand, speculation and, most recently, escalating construction costs," it said.
"For 2009, we expect prices to start coming under pressure as oversupply becomes evident. We forecast a 10-percent decline between 2008 and 2010 in our base case."
Some developers in Dubai are trying to weed out short-term investors.
Palm island developer Nakheel is requiring buyers at its Trump International Hotel to wait a year before they can sell their units on the secondary market, UAE daily The National reported on Tuesday.
While Dubai is the "bellwether" for the Gulf property market, slight easing of prices in the emirate may not impact Abu Dhabi and Qatar, whose property sectors should remain under-supplied until at least 2012, Morgan Stanley added.


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[marc]

yeah Morgan stanley report was in the papers today aswell. Im not sure why they are doing it, as its 'fake' demand, an investor taking 100 units does not count as demand, there are no end users, and surely there will not be enough people moving to dubai and actually buying somewhere, palm deira has space for 200,000 people, dubai world central (new airport) has accomodation for nearly 1,000,000!!! as well as waterfront being x2 size of hong kong - where are these people coming from when everyone shares and cant offord to buy these units.

[Elphaba]

Not sure if you have seen the film Field of Dreams, but there is a well known line: If you build it they will come. That seems to be the 'plan' here.


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[marc]

lol very good........
+ good film.

[Amani]

Best job websites to have a look at for IT Industry specifically sales and marketing?

Would be greatly appreciated....

[mallen79]

hey, we are moving over to Dubai at the end of the month and my wife is looking for a job in banking but does not know how to start, does anyone know where the best places to go are?