A bit of both, really. There aren't many new projects so all the engineers I know had to find new stuff. The only people I know who haven't had a problem is a barrister and her mum who teaches at the international school. There seems to be nothing unless you're a poor Pakistani or Indian looking to be exploited by a construction company.
They're constantly opening new shops because the things that were there previously closed. I was there for 6 months a few years back (my parents lived there until earlier this yr) and the only things that didn't change hands were places like Ikea, Hyperpanda, Carrefour and Costas. Weirdly, the local Paris Hilton shopped stayed open the whole time even though I never saw anyone in there, ever.
Phew, so many words!