Vice President - Development

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.

This role is for UAE National only.

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 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 and liaise with 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 construction progress.
• 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.

Qualifications & Experience

RELATED YEARS OF EXPERIENCE:
A minimum of 10 years of development management experience in managing the development of large residential and retail real estate assets of over AED 500 million in value.

FIELD OF EXPERIENCE:
Real estate development.

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(S):

• Bachelor’s degree in real estate, land economics, property valuation, architecture, or engineering.