Middle East or not?

Based on the most helpful WSO content, here’s what you need to know about making a move to the Middle East for your career in real estate investment:

1. Challenges of Returning to Europe:

   • Experience in the Middle East, even with reputable firms like ADIA or Mubadala, is often discounted when trying to move back to Europe or the US. This is due to the niche nature of the region and the perception that the work environment (e.g., large deal teams, red tape) differs significantly from traditional corporate private equity or real estate investment in Western markets.
   • Many professionals who work in the Middle East for 2-3 years often pursue an MBA (typically at M7 schools like Wharton) to facilitate their return to Europe or the US.

2. Targeting Brand Names:

   • If you decide to move, targeting globally recognized firms with offices in the Middle East (e.g., Brookfield, ADIA, Mubadala) is a smart strategy. These names carry more weight on your resume and can make it easier to transition back to Europe later.
   • Working for a family office in the Middle East might not provide the same level of recognition or credibility outside the region, as these setups are often less professionalized and heavily reliant on key individuals.

3. Covering European Real Estate from the Middle East:

   • It is possible to cover European real estate from the Middle East, especially if you join a firm with a global mandate or a focus on Western markets. However, the perception of your experience might still be tied to the region you’re based in, which could impact your ability to “sell” your experience later.

4. Lifestyle and Career Considerations:

   • The Middle East offers tax-free salaries, a sunny lifestyle, and cushy expat benefits, which can be appealing. However, many professionals find it challenging to adjust to the region’s work culture and red tape.
   • Some professionals become “career expats” because the transition back to Europe or the US can be difficult, both professionally and personally.

Recommendation:
If you’re set on moving to the Middle East, prioritize roles at globally recognized firms with a strong presence in Europe. This will help safeguard your career trajectory and make it easier to transition back to Europe in the future. Additionally, ensure that the role allows you to maintain exposure to European markets, as this will be critical for your long-term career goals.

Sources: Non US/Europe IB/PE Overview, Non US/Europe IB/PE Overview, Working Overseas in Real Estate, Global Real Estate Companies, 6 Things to Consider Before Accepting an International Work Assignment