Vice President - DM Portfolio

Role Overview

Vice President - DM Portfolio at Aldar Properties. Location not specified in source.

Role Purpose

Manage development projects from inception to completion by coordinating multi-disciplinary internal and external consultants and stakeholders to deliver project objectives as directed by the line manager.

Key Responsibilities

Business Development

• Assist in managing business development activities for land, residential, retail, and mixed-use assets as directed by the line manager.
• Support identification of new own development opportunities.
• Support sourcing new investment with third parties including joint ventures and project finance.
• Support sourcing developments pre-selling and pre-leasing guarantees from end-users.

Feasibility Studies and Financial Modeling

• Develop 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 models in collaboration with Partnerships & Investment and other relevant functions.
• Liaise with Partnerships & Investments and other relevant functions on feasibility studies.
• Develop feasibility study on owned land in conjunction with the line manager.
• Develop financial models and feasibility studies on land assets.
• Liaise with various Investment Analysis and other relevant functions on feasibility studies.

Land Strategy and Asset Allocation

• Recommend allocation of specific assets by segment on land plots.
• Recommend land phasing plan.
• Recommend input to pricing of land plots based on price benchmarks 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 distinguishing recoverable versus non-recoverable costs.
• Review and update development manager on schedules for land development in conjunction with Delivery and Controls.

Land Bank and Delivery Oversight

• Review, update, report, and recommend on allocated land bank from inception through design, delivery of infrastructure, authority handovers, sales, and development on land plots.
• Review delivery team progress and report on progress of delivery and timely handover of government-related assets to reduce operations and maintenance costs and land costs.

Master Planning and Market Intelligence

• Review and report on pre-concept test fit, concept master plan, and detailed master plan managed and developed by the master planning function.
• 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.
• Recommend land use and products that can enhance overall project attractiveness and profitability.

Monitoring and Reporting

• 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.

Commercial and Strategic 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 8+ years of development management experience managing development of large residential and retail real estate assets of over AED 500 million in value.
• 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 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.