Real estate bankers reap rewards in the Gulf

What with luxury apartments, marinas and theme parks, Dubai's real estate sector is booming. And so is demand for real estate bankers in the Emirates.

Local and international firms and banks need people with the experience to get results.

"The sector is expanding massively," says Stuart Dale, a consultant at London recruitment firm EM Group. "You can see projects going up everywhere."

Dubai-based real-estate giant Emaar Properties is building the US$20bn Burj Dubai complex and local and international firms are involved in projects from Cairo to Oman.

Dale says organisations are ideally looking for candidates with investment banking experience, who've worked on real estate deals, preferably in the Gulf.

"They need experience in the basics of modelling and the legal side, with a track record of working on real estate deals or with real estate funds," he says.

Michael Ketley, of headhunters MRK Consulting, says candidates with around 10 years' experience can expect basic net salaries of around US$200k, with a guaranteed bonus of another 50% to 100% on top.

And, the recruiters say, demand is set to increase as money generated in the energy-producing Gulf countries continues to flow around the region.