Senior Associate - Development

Role Overview

Senior Associate - Development at Fa Ewnp Saasfaprod1. The role supports business development and project delivery across land, residential, retail and mixed-use assets.

Role Purpose

Support the development lifecycle of large-scale residential, retail and mixed-use real estate projects by conducting feasibility analysis, financial modeling, market research and project monitoring to deliver projects on time and within budget.

Key Responsibilities

Business Development

• Assist in business development activities for land, residential, retail and mixed-use assets as directed by the line manager.

Feasibility Studies & Financial Analysis

• Assist in developing feasibility studies for residential, retail and mixed-use assets and seek approval from line manager.
• Develop financial models in collaboration with Partnerships & Investment and other relevant functions.
• Liaise with Partnerships & Investments and other relevant functions on feasibility studies.
• Assist in developing feasibility studies on owned land.
• Develop financial models and feasibility studies and liaise with Investment Analysis and other relevant functions.

Land Development Planning

• Recommend allocation of specific assets by segment on land plots.
• Recommend land phasing plans.
• Recommend input to the pricing of land plots based on price benchmarks of comparable land plots.
• Research and recommend unit costs by land plot.
• 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.
• Review and update development managers on schedules for land development in conjunction with Delivery and Controls.

Costing & Infrastructure

• Perform project costing in coordination with Project Management.
• Perform infrastructure costing in coordination with Operations.
• Perform high-level cost breakdown of infrastructure identifying recoverable versus non-recoverable costs.
• Monitor development budgets against projected and actual costs and recommend appropriate solutions on deviations.

Market Intelligence & Strategy

• Use market intelligence reports to recommend land use requirements for master plans, matching supply with demand.
• Use market reports and media publications to identify trends in development products related to lifestyle and recommend land use and products that can enhance overall project attractiveness and profitability.

Master Planning & Delivery Oversight

• 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.
• Review the Delivery team progress and report on progress of delivery and timely handover of government-related assets to reduce O&M costs and land costs.
• 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.

Commercial & Strategy Support

• Support in deciding on refined commercial strategy based on recommendations from Commercial, including pricing and sales phasing.
• Support in deciding on marketing strategy, including marketing calendar and branding.
• Support in deciding on Asset, PM and FM strategy, ensure proper handover and coordination with PM and FM entities and Asset Manager.

Qualifications & Experience

• Minimum 6+ years of development management experience managing the development of large residential and retail real estate assets with a value over AED 500 million.
• Bachelor's degree in real estate, land economics, property valuation, architecture or engineering.

Skills & Competencies

• Strong understanding of valuation, appraisals and financial modeling of residential and commercial development.
• Strong knowledge and exposure to the GCC real estate market with experience at 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.

Additional Information

Key Result Areas

• Realized versus planned financial returns of projects under supervision.
• Percentage time overrun of projects under supervision.
• Percentage cost overrun of projects under supervision.
• Number of development issues resolved or raised under supervision.