Position: Development Director – Retail.
MRG Global is a renowned real estate executive search firm entrusted with identifying an exceptional Development Director of Retail Assets for our client, a leading and innovative real estate development organization specializing in creating and managing groundbreaking retail and entertainment developments.
About the role:
As the Development Director of Retail Assets, you will have a strong background and track record in the delivery of large-scale retail assets from master planning and throughout the full development lifecycle to project delivery. This is a lifestyle retail destination development, so equal consideration will be given to mixed-use development backgrounds with retail assets.
You will ideally have worked as an Executive for >$2bn portfolio of development projects, having held previous executive roles in blue-chip main contracting, consultancy, and (or) real estate developer organizations, and demonstrated experience in commercial and financial elements of JV structures including procurement, and the ‘front end’ development activities like feasibility studies, oversight of design, delivery and asset management.
Key Responsibilities:
You will be responsible for:
- Leading all development activities and providing strategic leadership and tactical implementation for the organization’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.
- Forge strategic partnerships with global retail brands, investors, and stakeholders to ensure a diversified and successful tenant mix that aligns with the project’s objectives.
- Managing the preparation and regular review of the project-specific development and design briefs to ensure its alignment with the project business objectives.
- Take ownership of the financial aspects related to retail development, from budgeting and forecasting to revenue optimization and ensuring profitability.
- Innovation and Differentiation: Drive innovation in retail design and customer experience, leveraging technology and trends to create a truly exceptional and immersive retail environment.
- 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.
- Compliance and Risk Management: Ensure adherence to legal, regulatory, and safety standards while proactively mitigating potential risks associated with the retail component.
Background, Skills, and Qualifications
- Bachelor’s degree in architecture, 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 working for a top-tier Real Estate Developer or Real Estate organization.
- Proven expertise in retail or lifestyle real estate development management, program management, financial analysis, property appraisals, business analysis, financial modelling & real estate market dynamics.
- Substantial experience managing the real estate development process, from project initiation and acquisition to project structuring, design, construction, commission, and operation.
Benefits:
In return, you will be able to have direct oversight and responsibility for one of the world’s most exciting real estate projects. You will be offered a generous compensation package, which will include a tax free package, excellent bonus scheme, education allowances, annual flights and relocation assistance.