Real Estate Development Manager
Job details
THIS POSITOPN ONLY FOR SAUDI NATIONALITY Accountable forThe Development Manager is responsible for managing the development of assets, from project inception to delivery and handover/occupation, with particular emphasis on maximizing return on invested capital and operating profitability, including management of cashflow, through close coordination with (company) Finance and all (company) Sectors and Departments.Key Responsibilities• Prepare a development plan and business/investment case for presentation to the CDO.• Take profit-and-loss responsibility on the project, reporting to the CDO.• Ability to prepare feasibility studies and financial models at the business plan level; (Familiarity with Estate Master is required).• Ability to analyze general economics and real estate market trends and make recommendations for project IRR improvement.• Ability to identify strategic partnership opportunities and make clear analyses and recommendations to the CDO.• Accountable for project delivery and execution, working closely with the proponent team to drive the right outcomes from concept design to authority approvals to construction through to delivery and handover.• Provide the bridge between the Finance, Project Management, Construction, Cost, and Infrastructure teams.• Drive the development process by updating schedules, budgets, timelines, financial information, and projections as necessary.• Manage with the preparation of RFPs; evaluate consultant bids; review and manage consultant contracts and oversee commercial management of construction contracts /contractors.• Coordinate and manage internal team members as well as external consultants (i.e., lawyers, architects, surveyors, geotechnical, environmental, realtors, appraisers, etc.).• Review commercial documents (i.e., Letters of Interest, Contracts of Purchase and Sale, lease agreements, etc.)• Responsible for developing design strategies to optimize the specifics elements of the scheme to maximize both the design quality and the financial/commercial outcomes.• Pioneer design briefs, QA/QC procedures, and oversee concept design development for commercial rationalization.• Assist in developing and managing the overall development timeline and monitoring project progress.• Provide development oversight of the procurement, contract management, and cost management, and tender processes.• Manage the construction planning stage; Oversee and monitor the construction; management the construction delivery team with project IRR responsibility throughout the construction stage.• Deep understanding of project management systems and processes, and ability to manage project managers (whether in-house or outsourced).• Manage all project outsourced consultants, especially design architects; ability to consolidate all design disciplines towards milestones and deliverables.• Manage the procurement/tender process in conjunction with the procurement department.• Provide final tender analysis and recommendation to CEO for contractor appointment.• Monitor contractor site mobilization; approve and manage change orders; ensure supply of information to the contractor as and when reasonably required; conduct Regular site inspections of work to ensure it meets specification; oversee the management of the building contractor by the Project Engineer / Project Manager up to and including practical completion.• Assess construction performance to obtain acceptance of Certificate of Completion, and acceptance of O&M Interface with the Commercial Management team to procure different services; develop cost plans; prepare financial appraisals; report project cash flows, develop procurement strategies for the operational business stage.• Advise on expected sales/leasing returns; establish revenue strategies; confirm/monitor compliance with revenue forecasts and implement Sales/Leasing Strategies; Interface with the Marketing Team to develop and implement Marketing Strategies.• Interface with the Asset Management team to obtain and communicate their operational, design, and cost inputs into the development process; assist the Asset Management team to develop Operational/Maintenance plans and strategies to reflect development input and ensure the proper implementation of the O&M plan.• Coordinate with sales and marketing consultants to ensure the correctness of all sales and marketing materials.REQUIRED: COMPETENCIES, AND SKILLS• The individual should have a strong commercial understanding and have the ability to analyze andpromote value add opportunities balancing risk and reward.• Have a good understanding of real estate including architectural concepts, feasibility studies,investment proposals, and financial models.• Must be able to work well under pressure and meet deadlines.• Strong negotiation and presentation skills.• Ability to develop and manage budgets and understand job cost management.• Strong understanding of real estate principles.• Ability to recognize and assess and manage risk.• Ability to identify and resolve problems and develop alternative solutions in a timely manner.• Detail oriented and organized work habits.• Ability to act and operate independently with minimal daily direction.• Candidates should have excellent time management and organizational skills.EDUCATION, CERTIFICATION, AND EXPERIENCE REQUIREMENTS• Bachelor's Degree in Business Admin., Economics, Real Estate, Urban Planning or related disciplines.• Master's Degree preferred.• PMP or equivalent certification preferred but not required.• 10+ years' experience with a Developer in the capacity of Development Manager.• Excellent communication skills, with a high standard of English (oral and written).• Bi-lingual Arabic speaker is a bonus.
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