OXAGON – Development Manager, Commercial
About the role
On behalf of our client, The Management Recruitment Group has been retained exclusively to source candidates for the post of Development Manager, responsible for commercial office and retail plaza buildings. Our client is one of the key giga-projects in KSA. This role will be responsible for leading the all facets of commercial real estate development from detailed design through to delivery, completion and handover.
We are currently sourcing this role to work on an ambitious island development which forms part of a larger masterplan. Our client has identified the need to bring a manager-level resource into the team with specific experience around the development of office towers and retail plazas.
With stage 3(b) completed and detailed design well underway, this is a multi-faceted role requiring a full range of skills and capabilities. The focus on expertise will be on bringing the project forward into construction and ensuring delivery meets the ambitious programme.
You will be responsible for:
- Managing development activities and providing oversight and advice for the organization’s real estate projects across the region.
- Managing 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.
- Working with a team to produce consolidated progress reports, showing a clear picture of the progression of the works within the residential and commercial real estate portfolio, and highlighting all critical issues.
- Executing 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 to the Director of Real Estate Development 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.
- Managing, 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.
You will need to be
As an experienced Real Estate Development Manager, you will have a strong background and track record in the delivery of large-scale urban development, masterplanning, and full lifecycle delivery. You will have ideally worked as a Development Manager supporting a Development Director on multi-million-dollar portfolios of development projects, having held Manager and Senior Manager roles previously, and demonstrated experience in commercial and financial elements of JV structures including procurement, and the ‘front end’ delivery of design, development and asset management.
Background, Skills, and Qualifications
- Bachelor’s Degree in engineering, Construction Economics, Real Estate, Finance, Business Administration, or comparable/similar appropriate qualification.
- Minimum of 10 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 modeling & 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.
In return, you will be able to have direct oversight and responsibility for one of the world’s most exciting projects. You will be offered a generous compensation package, which will include a guaranteed high basic, bonus, pension, a sign-on bonus, and relocation. Living costs will be covered and you will be based in a full-service compound.
What to do now
For a confidential discussion, please contact Matthew Donovan (Matthew.Donovan@mrgpeople.co.uk) of The Management Recruitment Group. Applications should consist of a CV and a relevant project list.
Applications are open until the role is filled. As there are multiple positions to fill, we will be holding weekly shortlisting meetings with our clients until all posts are recruited.