Vice President - DM Portfolio
JOB PURPOSE
- Perform and assist in the managing of development projects activities from inception to completion which involves co-ordination of multi-disciplinary internal and external consultants and stakeholders to achieve the required project deliverables as directed by the line manager
ROLES AND RESPONSIBILITIES
- Assist in managing business development activities for land, residential retail and mixed-use assets as directed by the line manager
-Support in identifying new own developments opportunities
-Support in sourcing new investment with third parties (e.g., JVs, project finance, etc.)
-Support in sourcing developments pre-selling/pre-leasing guarantee from end-users
- Develop feasibility studies for residential, retail and mixed-use assets and seek approval from line manager
-Perform project costing in coordination with Project Management
-Develop financial model in collaboration with Partnerships & Investment and other relevant functions
-Liaise with Partnerships & Investments and other relevant functions on feasibility studies
- Develop feasibility study on owned land, in conjunction with the line manager:
-Recommend allocation of specific assets by segment on land plots
-Recommend land phasing plan
-Recommend in input to the pricing of land plots based on price benchmark of comparable land plots
-Research and Recommend unit cost by land plot
-Perform infrastructure costing in coordination with Operations. Perform high level cost breakdown of infrastructure (recoverable versus non recoverable costs)
-Develop financial model and feasibility studies. Liaise with various Investment Analysis and other relevant functions on feasibility study
-Review the Delivery team progress and report on progress of the delivery and the timely handing over of government related assets to reduce O+M costs and land costs
- Review and Report on pre-concept test fit, concept master plan and detailed master plan managed and developed by the master planning function
- Review, update, report and recommend on the allocated land bank from inception, design, delivery of infrastructure, authority handovers, sales and development on land plots
- Use market intelligence reports to recommend land use requirements for master plans; matching supply with demand
- Use market reports and media publication to identify trends in Development products related to lifestyle and recommend land use and products that can overall enhance the project attractiveness and profitability
- Review and update development manager on schedules for land development in conjunction with Delivery and Controls
- Perform continuous monitoring of design and project deliverables, program and risk register
-Provide constant progress updates and monthly written reports on constructionprogress
-Identify major issues or conflicts and recommend appropriate solutions
-Monitor development budgets against projected and actual costs and recommend appropriate solutions on deviations
- Support in deciding on refined commercial strategy based on recommendation from Commercial (e.g., pricing, sales phasing, etc.)
- Support in deciding on marketing strategy (e.g., marketing calendar, branding, etc.)
- Support in deciding on Asset, PM and FM strategy, ensure proper handover and coordination with PM and FM entities and Asset Manager
RELATED YEARS OF EXPERIENCE
Min of 8+ years of development management experience in managing the development of large residential and retail real estate assets of over AED 500 million in value
YOE IN MANAGERIAL POSITION
Min of: N/A
FIELD OF EXPERIENCE
Real estate
TECHNICAL AND INTERPERSONAL SKILLS
- Strong understanding of valuation, appraisals and financial modeling of residential and commercial development
- Strong knowledge and exposure to the GCC real estate market with large master developers with annual revenue of at least AED 2 billion
- Strong understanding of architectural design and construction
- Solid understanding of contract procurement policies and procedures gained in the Procurement function of a real estate developer in the GCC real estate industry
QUALIFICATION
- Bachelor’s degree in real estate, land economics, property valuation, architecture or engineering