# Recession in Dubai



## shazuk (Aug 9, 2010)

Hi all

I am considering moving over to Dubai if I get the job offer I want but a few people, including my interviewers yesterday, have mentioned that Dubai is "in the grip of a deep recession"

I am aware this recession is global, and certainly the UK is a difficult place to be right now .... but would like to know more about how it is in Dubai ..in particualar the following things, though any info would be useful and greatly appreciated


What have you noticed in Dubai that has been affected by the recession ?
How has it affected your lives ? (if thats not too personal)
Is it still in the grip or are things improving ? If so, how / where

Thanks all in advance of any input

Cheers
Sharon


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## dizzyizzy (Mar 30, 2008)

Hi Sharon,

Dubai has certainly been affected by recession, just like anywhere else in the world, being the construction and real estate industries the most affected. Thousands of people lost their jobs and had to move back home. For many months it was very difficult to find a job, but I am under the impression that things are starting to change and slowly more jobs are being created as companies are trying to increase their sales and regain their position in the market.

Having said that, the construction and real estate industries are still in trouble, with thousands of units empty and supply outnumbering demand, but then again this has benefited all the population, as rents and property prices are decreasing and continue to do so, after many years of ridiculous prices and even more ridiculous contract conditions (like paying a full years rent upfront in one cheque which is absolutely ridiculous). I keep my fingers crossed that soon the agents comission fees will be shifted from the tenant to the be paid by the landlord (no offense to real estate agents, but this is the way it is in every other country).

Recession did not affect me personally for which I feel deeply grateful, although a few of my friends lost their jobs. However they all found new ones within a few months, some of them better paid, some of them with less pay, but at least they are still here and didn't have to move back home. 

One thing that puzzles me though is how stores like Harvey Nichols are able to stay in business - I was just commenting this with someone yesterday  Perhaps people here have much more money than I realise....


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## Seabee (Jul 15, 2010)

Dizzy summed it up very well. 

The big noticeable effect is on the real estate sector, less obvious but also badly hit was financial services (same as everywhere else).

The only people affected were those who lost their jobs or had big pay cuts, otherwise things have gone on as usual.

Again like many other places things are slowly improving, tourists are coming, business is slowly picking up. Having been in the UK recenty I'd say it's much better here.


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## shazuk (Aug 9, 2010)

ok thanks both of you .... that pretty much equates to what I thought .... and since Im a health worker, things should be fairly stable ... and as you say, better than the UK .... theres not job security in my hospital trust at the moment .... and for nurses lack of security is unheard of ... but here it is ... we have staff being downgraded and having to reapply for their own jobs right now as I type .... "restructuring" resulting in job losses, staff possibly not being replaced as they leave etc etc ... all sorts of stuff that didnt happen in the good old days of the NHS


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## justforus (Jul 28, 2008)

I keep my fingers crossed that soon the agents comission fees will be shifted from the tenant to the be paid by the landlord (no offense to real estate agents, but this is the way it is in every other country).

This is not actually true, in the UK as a landlord and tenant you both have to pay the estate agent initially and then the landlord has to pay the agent every month after that if they want the place looked after regardless if they actually do anything.


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## Maz25 (Jul 6, 2008)

justforus said:


> I keep my fingers crossed that soon the agents comission fees will be shifted from the tenant to the be paid by the landlord (no offense to real estate agents, but this is the way it is in every other country).
> 
> This is not actually true, in the UK as a landlord and tenant you both have to pay the estate agent initially and then the landlord has to pay the agent every month after that if they want the place looked after regardless if they actually do anything.


I never paid any agency fees in the UK. That was the landlord's bill. Sometimes they would charge you to carry out a credit check but that was it. You shouldn't be forking out for part of the landlord's bill.


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## work824 (Aug 4, 2010)

shazuk said:


> Hi all
> 
> I am considering moving over to Dubai if I get the job offer I want but a few people, including my interviewers yesterday, have mentioned that Dubai is "in the grip of a deep recession"
> 
> ...



Whenever you plan to travel to new places of work, there is always a risk. Some risk is real other is hearsay or perceived. If you are good in your job you minimize the risk and maximize the opportunity of success. Honesty and dedication towards your job responsibilities will propel you towards the success. So aim in that direction and the rest is history. Good luck.


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## Iron Horse (Apr 10, 2008)

Things were summed up above. All I'll add is that the interview didn't take place with the Big Mo because all I heard from before was that there was no recession.


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## stewart (Jun 21, 2009)

shazuk said:


> Hi all
> 
> I am considering moving over to Dubai if I get the job offer I want but a few people, including my interviewers yesterday, have mentioned that Dubai is "in the grip of a deep recession"
> 
> ...


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## pamela0810 (Apr 5, 2010)

Please see my contribution in blue! 


QUOTE=shazuk;349004]Hi all

I am considering moving over to Dubai if I get the job offer I want but a few people, including my interviewers yesterday, have mentioned that Dubai is "in the grip of a deep recession"

I am aware this recession is global, and certainly the UK is a difficult place to be right now .... but would like to know more about how it is in Dubai ..in particualar the following things, though any info would be useful and greatly appreciated


What have you noticed in Dubai that has been affected by the recession ? - *Pretty much everyone has been affected to some extent either through personal experience or through acquaintances.*

How has it affected your lives ? (if thats not too personal) *- Stress, lack of job security, etc. I work in the hospitality industry, so there was a lot of restructuring, redudancy and all of us were made to re-post for our jobs due to reorganisation. While my industry is now picking up slowly, I doubt it will get anywhere near the type of boom Dubai experienced a couple of years ago. At this moment, we see a lot of hotels being developed and too many rooms to be filled, but not as many people traveling.*

Is it still in the grip or are things improving ? If so, how / where *- Things seem to be improving but they have a very long way to go.*

Thanks all in advance of any input

Cheers
Sharon[/QUOTE]


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