Development Director

3 days ago

Riyadh, Saudi Arabia Management Recruitment Group Full time

**Director, Real Estate Development - MENA Region**

**Permanent, full time (relocation opportunity)**

**About the role**

**Background**

Our client is at the very start of a five-year programme with a multi-billion dollar portfolio of projects. We are currently sourcing for their newest scheme, a project consisting of residential, leisure, hospitality and world-class urban realm. Our client has identified the need to hire multiple individuals at the same level, each to take on a separate phase or asset.

With some projects started and others still requiring funding and business case preparation, this is a multi-faceted role requiring a full range of skills and capabilities. The focus on expertise will be around infrastructure, leisure and hospitality projects.

**Key Accountabilities**

You will be responsible for:

- Directing development activities and providing strategic leadership and tactical implementation for the organisation’s real estate projects across the region.
- Leading the preparation of development and operational business plans (including market research, due diligence reports, financial analysis, investment strategy, anchors strategy, pricing, sale and lease strategy, risk register and exit strategy) of relevant real estate projects.
- Producing consolidated high level executive reports, showing a clear picture of the entirety of the works within the residential real estate portfolio, recommending the strategy, and highlighting all critical issues, recommending actions and measures.
- Preparing the delivery strategy of the development, coordinating with and integrating the input from other support functions including technical, legal, finance, market research, sales, and marketing and operation to deliver the project development plan.
- Providing regular updates of the performance of the real estate portfolio based on the market research reports market drivers and trends, statistics, demographic analysis, absorption analysis and competitive set analysis, scenario analysis, the market competitiveness, and supply and demand drivers, risks and approved feasibility hurdle rates.
- Managing the preparation and regular review of the project specific development and design briefs to ensure its alignment with the project business objectives.
- Establishing, updating and regularly reporting on the consolidated risk register and mitigation measures.
- Instructing, organizing and coordinating all development disciplines with the objective of harmonizing the diversified functions to deliver completed projects in accordance with the objectives established in the approved business plan.
- Reviewing the property laws and provide advice on its impact on the development.
- Reviewing and highlighting the risks associated with all the necessary legal documentation relevant to the real estate and development process that needs to be implemented, including contracts, appointments, sales agreements, leases, warranties, performance guarantees, purchase contracts, utilities contracts, master community declarations, owners association declarations, management association documentation, title deeds and other such documentation and correspondence to facilitate and deliver the development.

**You will need to be**

As an experienced Real Estate Development Director, you will have a strong background and track record in the delivery of large-scale urban development, Masterplanning and full lifecycle delivery. This is a mixed scheme, so equal consideration will be given to office, hotel and leisure experience as well as residential or mixed-use schemes. You will have ideally having worked as Development Director for >$100m portfolio of development projects, having held Director roles in blue chip main contracting, consultancy and government organisations and demonstrated experience in commercial and financial elements of JV structures including procurement, and the ‘front end’ delivery of design, development and asset management.

You will focus on development & placemaking for Phase One from an ROI perspective, to ensure the success of phase two and a conceptual / visceral perspective. As such, they are very open to both transactional development directors that will focus on the dollars and cents as well as destination developers that will ensure this is a world-renowned destination and resort.

**Background, Skills and Qualifications**
- Bachelor’s Degree in engineering, Construction Economics, Real Estate, Finance, Business Administration or comparable / similar appropriate qualification.
- Minimum of 15 years of development management experience on major real estate development projects, with top reputable Developers.
- Experience in the MENA property sector is highly desirable, though not essential, working for a top tier Real Estate Developer.
- Proven expertise in office real estate development management, program management, financial analysis, property appraisals, business analysis, financial modell

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