500,000 construction workers’ shortage in Dubai
Real estate sector in the Gulf Arab emirate Dubai is expanding and is in demand. The construction sector here is all set to witness a shortage of 500,000 workers by 2015, a media report said here Saturday.
Dubai international academic city (DIAC) asked Deloitte to conduct a survey and about the real estate sector. According to the report, construction firms and developers face a shortfall of 500,000 workers across all career levels and divisions as massive public and private projects fuel an unprecedented real estate boom in the sheikhdom. According to 43 per cent of the companies surveyed, the building and construction project management skills are most lacking among senior levels. Among mid-level professionals, design engineering skills and civil engineering skills are lacking.
The construction in Dubai got a boost as Dubai won the bid to host the World Expo in 2020. The average rents have risen by 23 per cent during the first quarter of 2014, according to real estate consultancy Jones Lang LaSalle. An estimate by HSBC says that about 45,000 new hotel rooms will be needed for the event.
The Dubai government has launched several new projects last year. The projects include a new city within the city named by Dubai ruler Sheikh Mohammed Bin Rashid and a free zone for the design industry which shall play a key central role during the expo event.
Source: The Times of India
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