A further 7% reported receiving preferential treatment vis-à-vis their male colleagues; 23% said men got preferential treatment, according to the findings of the exercise conducted by job site Bayt.com in conjunction with research firm YouGovSiraj.
The survey was conducted during June, covering 2,602 respondents aged between 15 and 59.
The Women in the Workplace Survey is a measure of women’s perceptions, attitudes, experiences and satisfaction of various elements of their role in the workplace, especially about their treatment and salaries compared to their male counterparts.
Although 41% of the women felt they had a lower chance of being promoted than their male colleagues, this was most pronounced among GCC nationals, with half believing they stood a lower chance, closely followed by Asians (47%).
By contrast, 44% of Western women, almost double the average (27%), felt that their promotion chances were equal to that of their male colleagues.
“In tracking and monitoring this data, organisations and businesses across the entire region can benefit from the findings, allowing them to adjust, or develop new sets of measures or behaviours for promoting crucial gender equality,” Bayt.com CEO Rabea Ataya said yesterday.
Almost half of all women surveyed, 46%, with 58% of them Asian, felt that they receive less pay than their male counterparts. Equality in terms of remuneration also differed by job sector, with a majority of female government and semi-government employees seeming to be more equally paid than others.
In terms of satisfaction with regards to the level of work recognition they receive, only 24% of the respondents indicated high levels of satisfaction with 28% indicating they were dissatisfied.
GCC nationals were the most dissatisfied, with 38% citing satisfaction as low.
“It’s time employers sit up and take notice of this vital segment of their workforce as research reveals that if provided simple benefits, it would increase the longevity of 80% of women’s careers which will have a long term beneficial impact on the business and the economy as a whole,” YouGovSiraj CEO Nassim Ghrayeb said.
Value of new projects in Saudi Arabia to reach $ 410b
Khaleej Times: Total real estate investments in Saudi Arabia, which represents the largest construction market in the Middle East, are estimated at $ 270 billion and the total value of new projects is likely to reach $ 410 billion this year. Due to extra liquidity generated from high oil revenues and regional governments. Saudi Arabia is planning ambitious infrastructure programmes.
Growth
According to a report by Business Monitor, the growth of the industry has been pushed by the government’s efforts to liberalise the economy. Over the past few years, new laws have been voted to ensure attractive capital flow into the nation.
Foreign companies are now allowed to own 100 per cent of property and projects and to bid for government contracts. Since 2005, corporate taxes have decreased from 45 per cent to 25 per cent, encouraging companies to invest in the country. To further attract investors, local authorities have therefore partnered with Naseba, an international business information company, in hosting the Real Estate Investment World Summit in Riyadh on October 19-20.
“There are tremendous opportunities in Islamic investments in the real estate market in Saudi Arabia. With this summit, we aim at further opening the Saudi market to foreign investors, exploring the investment opportunities within the conventional and Shari’ah-compliant real estate sector,” Teena Tolani, the organiser of the Real Estate Investment World Summit, said in information made available to Khaleej Times here on Tuesday.
Summit
Working in partnership with BBC World News, Time magazine and Forbes Arabia, the Real Estate Investment World Summit is the first event of its kind to gather up to 250 global leaders including high net worth individuals, VIPs and board members from companies such as Kuwait Finance and Investment company, The National Investor, Amlak Finance, Jordan Investment Trust, Bank Al Jazira, and many others.
The summit will explore the investment opportunities through educational conference sessions, networking opportunities and an exhibition featuring companies such as Kuwait Finance House, Abraj Tourism, Dubai Islamic Bank, Nakheel, The Land Holding, Al Oula Development, TMG Holding, Al Rajhi Bank and Palm Hills Developments.
Mortgage finance
Islamic finance, one of the most booming markets in the world, is estimated to be worth $ 800 billion and growing at a substantial rate, by 15 per cent to 20 per cent a year.
That performance has translated into an equally promising mortgage finance growth resulting in the rapid development of the Islamic retail sector, which has proved to be a stable investment option ensuring a high return on investment.
The rapid emergence of a wider range of real estate financial instruments compatible with the principles of Islamic finance is significantly contributing to the growth of the sector.
With the fast emergence of a prosperous middle class snapping up credit to buy homes, demand for Shariah-compliant retail financial services is set to accelerate.
