No buildings? No jobs!

There was a time when a steady availability of jobs in the realm of Dubai was very natural. Any migrant worker, from any part of the world, could get a job. There as a spectacular economic growth thanks to the endeavor of making an efficient construction sector. Naturally the pay packet was quite fat and that used to lure people more people from different parts of the world to the booming city on the shores of the Gulf. One can see, even, the lofty buildings that are the finest specimens of halcyon days. What is the condition therefore? It’s indeed tragic.

The global recession or financial meltdown has hurled the heaviest blow on the entire region. The market is completely down, especially in the real estate market (that heightened Dubai’s international status) and as result the construction of buildings has come to the dead end. Are you scpetical? Well, the reaction of the workers to this downturn can be an eye-opener to you. The recession has downsized the number of jobs and lots are found to pack their bags and move on. The only reason is that the slump has made many farms give the workers elbow.

Take for instance the government-controlled property group Nakheel. It is one of the esteemed groups in the industry but is going through a sordid situation. For that reason it is, too, adopting several adverse decisions. According to the latest information, a good number of its employees have been given the termination letter. It has been learnt that Nakheel was on the verge of starting several elite projects with regard to buildings but the recession has scourged the entire scenario. “We have the responsibility to adjust our short term business plans to accommodate the current global environment,” said a Nakheel statement announcing the redundancies, which it described as “regrettable, but a necessity dictated by operational requirements.”

The condition is no better for other groups like Damac Properties, Al-Shafar General Contracting, Emaar, Omniyat and others.