Senior Associate - Development

at  Aldar

KEY RESULT AREAS:

• Realized vs planes financial returns of projects under supervision
• % time overrun of projects under supervision
• % cost overrun of projects under supervision
• Number of development issues resolved/raised under supervision.

YEARS OF EXPERIENCE:

• Min of 6+ years of development management experience in managing the development of large residential and retail real estate assets of over AED 500 million in value.

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.

QUALIFICATIONS:

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

• Assist in the business development activities for land, residential retail and mixed-use assets as directed by the line manager
• Assist in developing 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.
• Assist in developing feasibility study on owned land:
-Recommend allocation of specific assets by segment on land plots
-Recommend land phasing plan
-Recommend in 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. Liaise with various 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
• Collate input from internal and external stakeholders. Review and Report on pre-concept test fit, concept master plan and detailed master plan managed and developed by the master planning function
• Assist in 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