Assistant 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.

ROLES AND RESPONSIBILITIES

1. Assist in managing business development activities for land, residential retail and mixed-use assets as directed by the line manager.
2. Support in identifying new own developments opportunities.
3. Support in sourcing new investment with third parties (e.g., JVs, project finance, etc.).
4. Support in sourcing developments pre-selling/pre-leasing guarantee from end-users.
5. Develop feasibility studies for residential, retail and mixed-use assets and seek approval from line manager.
6. Perform project costing in coordination with Project Management.
7. Develop financial model in collaboration with Partnerships & Investment and other relevant functions.
8. Liaise with Partnerships & Investments and other relevant functions on feasibility studies.
9. Develop feasibility study on owned land, in conjunction with the line manager:
1. Recommend allocation of specific assets by segment on land plots.
2. Recommend land phasing plan.
3. Recommend in input to the pricing of land plots based on price benchmark of comparable land plots.
4. Research and Recommend unit cost by land plot.
5. Perform infrastructure costing in coordination with Operations.
6. Perform high level cost breakdown of infrastructure (recoverable versus non recoverable costs).
7. Develop financial model and feasibility studies and liaise with Investment Analysis and other relevant functions on feasibility study.
8. 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.
10. Review and Report on pre-concept test fit, concept master plan and detailed master plan managed and developed by the master planning function.
11. Review, update, report and recommend on the allocated land bank from inception, design, delivery of infrastructure, authority handovers, sales and development on land plots.
12. Use market intelligence reports to recommend land use requirements for master plans, matching supply with demand.
13. 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.
14. Review and update development manager on schedules for land development in conjunction with Delivery and Controls.
15. Perform continuous monitoring of design and project deliverables, program and risk register:
1. Provide constant progress updates and monthly written reports on construction progress.
2. Identify major issues or conflicts and recommend appropriate solutions.
3. Monitor development budgets against projected and actual costs and recommend appropriate solutions on deviations.
16. Support in deciding on refined commercial strategy based on recommendation from Commercial (e.g., pricing, sales phasing, etc.).
17. Support in deciding on marketing strategy (e.g., marketing calendar, branding, etc.).
18. 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 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.

FIELD OF EXPERIENCE: Real estate development.

TECHNICAL AND INTERPERSONAL SKILLS:

1. Strong understanding of valuation, appraisals, and financial modeling of residential and commercial development.
2. Strong knowledge and exposure to the GCC real estate market with large master developers with annual revenue of at least AED 2 billion.
3. Strong understanding of architectural design and construction.
4. 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.