Building executives from region go east for new jobs



Builders are facing a shortage of talent despite the slowdown in the construction industry as their counterparts in Hong Kong, China and South Korea pluck experienced people from the UAE to staff their projects, recruitment experts say. Thousands of jobs were cut across the country's construction industry as projects ground to a halt following the global financial downturn.

Some builders are now starting to rehire as they bid for or win new work in lively markets such as Qatar and Saudi Arabia, but they no longer have the rich pickings of the past as professionals migrate to the Far East and elsewhere in Asia. "Over the past couple of months, we've been asked continually to find people here for jobs in Hong Kong and Macau," said Simon Hobart, the managing director of the recruitment company Millennium Solutions, based in Dubai.

"It's a trend that's picking up; a lot of contractors are looking for people in the Middle East. I wouldn't call it a brain drain, but there are certainly a lot less suitable people here now." The UAE construction boom attracted people from all over the world as they sought to boost their experience and their salaries on ambitious projects. The country also provided an alternative to the slower employment conditions in their home markets such as the UK, where a significant number of senior-level construction staff came from.

But the financial crisis prompted these expatriates to move on, said Maria Brown, an associate director for the MENA region at the recruitment firm Reed. "The economic climate encouraged people to re-evaluate where they were," she said. "As there were redundancies in the region, they asked themselves 'where next?' and Asia became the next market. So clients in the Middle East are seeing the knock-on effect of that."

Now employers in the booming economies of Asia are taking advantage of the experience professionals gained in the Emirates, she said. Meanwhile, the opportunities may be plentiful elsewhere: the World Bank predicts that by 2015, half of the world's construction will take place in China. "Someone who has had the experience of working in an emerging market is going to be able to support an economic boom," said Ms Brown.

"Everyone's talking about China at the moment and it makes sense for companies to look for people that have come from within the Middle East. Hong Kong, Singapore and [South] Korea are also really good markets." After living in Dubai for six years, a former project manager with a local contractor, who asked not to be named, has decided to accept a job in Macau. He said he was making the move in search of more stable prospects. "We lost a lot of projects and the ones we were bidding for were taking a long time to come through," he said.

Salaries for expatriates working in the property and construction sectors in the region have fallen by about 30 per cent since the start of the economic downturn, according to APG Global, a recruitment agency based in Australia. This means salaries in Asia, including the Far East, are now similar to those in the Middle East, said Mr Hobart. agiuffrida@thenational.ae

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KKR & Co, or Kohlberg Kravis Roberts, is a global private equity and investment firm with around $195 billion of assets as of the end of last year. The New York-based firm, founded by Henry Kravis and George Roberts, invests in multiple alternative asset classes through direct or fund-to-fund investments with a particular focus on infrastructure, technology, healthcare, real estate and energy.

 

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FIXTURES

New Zealand v France, second Test
Saturday, 12.35pm (UAE)
Auckland, New Zealand

South Africa v Wales
Sunday, 12.40am (UAE), San Juan, Argentina

Day 1, Abu Dhabi Test: At a glance

Moment of the day Dimuth Karunaratne had batted with plenty of pluck, and no little skill, in getting to within seven runs of a first-day century. Then, while he ran what he thought was a comfortable single to mid-on, his batting partner Dinesh Chandimal opted to stay at home. The opener was run out by the length of the pitch.

Stat of the day - 1 One six was hit on Day 1. The boundary was only breached 18 times in total over the course of the 90 overs. When it did arrive, the lone six was a thing of beauty, as Niroshan Dickwella effortlessly clipped Mohammed Amir over the square-leg boundary.

The verdict Three wickets down at lunch, on a featherbed wicket having won the toss, and Sri Lanka’s fragile confidence must have been waning. Then Karunaratne and Chandimal's alliance of precisely 100 gave them a foothold in the match. Dickwella’s free-spirited strokeplay meant the Sri Lankans were handily placed at 227 for four at the close.

COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
 
 
 
 
 
 
 
MATCH INFO

Everton 2 (Tosun 9', Doucoure 93')

Rotherham United 1 (Olosunde 56')

Man of the Match Olosunde  (Rotherham)

MATCH INFO

Uefa Champions League quarter-final, second leg (first-leg score)

Porto (0) v Liverpool (2), Wednesday, 11pm UAE

Match is on BeIN Sports


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