Thanks to an 8% increase in the number of new jobs compared to the fourth quarter of 2023, the UAE has become the leader in job creation among the Gulf countries in the first quarter of this year.
The employment ratings from Cooper Fitch Gulf indicate growth in the number of new jobs in the sectors of real estate, digital technologies, data processing, and artificial intelligence.
Figures include:
– Real estate sector: +11%
– Construction, planning, and real estate services: +11%
Regarding overall growth in the region:
– Saudi Arabia saw a 5% increase in new jobs,
– Qatar had a 3% increase,
– Bahrain had a 1% increase,
– Kuwait had a 4% increase,
– Oman saw no change in job growth.
In the legal and investment management sectors, job numbers in the Gulf countries increased by 9%, indicating the region’s growing popularity.
The economic outlook for the UAE remains promising, with projected GDP growth of 4.2% in 2024 and 5.2% in 2025.
The strong growth in job creation across various sectors, especially in real estate and related services, is a clear indicator of the thriving economy in the UAE. With significant increases in employment and promising GDP projections, the demand for real estate properties is expected to rise significantly. This trend has piqued the interest of investors and developers. Investing in the UAE’s property market now could lead to substantial returns as the country continues to attract talent and expand its economic footprint. The combination of job growth, economic stability, and sector-specific advancements makes the UAE an ideal destination for profitable real estate investments.
Sourced from: Cooper Fitch Gulf