Senior Vice President - Development

About the role

Aldar is looking for a Senior Vice President - Development to lead individual development projects from inception to completion. The role covers feasibility studies and the management and coordination of multi-disciplinary internal and external consultants and stakeholders, delivering project outcomes as directed by the Director.

Key responsibilities

• Perform business development for land, residential, retail and mixed-use assets and identify new own-development opportunities
• Recommend the development portfolio strategy (including sub-segment mix) and support sourcing new investments with third parties such as JVs and project finance, and pre-selling/pre-leasing guarantees
• Develop and prioritize the pipeline of potential developments on the land bank, including preliminary screening and feasibility studies for residential, retail and mixed-use assets
• Develop financial models with Partnerships & Investment and manage development appraisals, ensuring accuracy and early identification of performance risks
• Manage developments from inception to completion under the Investment Control Process, and make recommendations to the Director on balanced solutions to problems
• Support decisions on design briefs, critique consultant design proposals, and develop the phasing and procurement strategy
• Support selection, negotiation and appointment of consultants, contractors and service providers, and project scheduling, and raise major contract variations to the line manager
• Produce and manage the development's Risk Register, monitor design, programme and risk, and give monthly written progress reports
• Monitor budgets against projected and actual costs and recommend solutions to deviations
• Support Heads of Terms for asset purchases, leases and sales contracts, and advise on commercial, marketing, asset, project management and facility management strategies

Required profile

• Minimum 12 years of development management experience, including large retail real estate assets worth over AED 500 million
• Minimum 4 years in a managerial position
• Bachelor's degree in real estate, land economics, property valuation, architecture or engineering

Required skills

• Valuation, appraisals and financial modelling of residential and commercial development
• Knowledge of the GCC real estate market with large master developers
• Understanding of architectural design and construction
• Solid understanding of contract procurement policies and procedures