Director – Real Estate Development – Residential Segment at NEOM

Director – Real Estate Development – Residential Segment at NEOM

NEOM is looking for Direct development activities and provides strategic leadership and tactical implementation for the organization’s real estate projects for the residential segment.

Job Description

· Manage 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 the residential real estate projects.

· Produce consolidated high level executive reports, showing a clear picture of the entirety of the works within the residential real estate portfolio, recommending the strategy, and highlighting all critical issues, recommending actions and measures.

· Prepare the delivery strategy of the residential developments, coordinate with and integrate the input from other support functions; technical, legal, finance, market research, sales, and marketing and operation to deliver the project development plan.

· Provide regular update of the performance of the residential 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.

· Manage the preparation and regular review of the residential project specific development and design briefs to ensure its alignment with the project business objectives.

· Establish, update and regularly report on the consolidated risk register and mitigation measures.

· Establish the Real Estate Development Residential team.

· Instruct, organize and coordinate 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.

· Review the property laws and provide advice on its impact on the development.

· Review and highlight the risks associated with all the necessary legal documentation relevant to the real estate and development process that needs to be implemented, including contracts, appointments, sales agreements, leases, warranties, performance guarantees, purchase contracts, utilities contracts, master community declarations, owners association declarations, management association documentation, title deeds and other such documentation and correspondence to facilitate and deliver the development.

· Coordinate and integrate the development schedules of various stakeholders into the development program to ensure cohesion and alignment with the approved business plan.

· Set out sales and marketing strategies and manage the implementation plan and its alignment with the market drivers, real estate trends, and highest best use analyses.

· Endorse and ensure that the sales promotions plan and the marketing and advertising campaigns delivered by the third party consultants are valid and are aligned with the development program and strategy.

· Oversee and review preparation of project specific Development and Design briefs to reflect project intent and objectives.

Job Requirements

– Bachelor Degree in Engineering, Construction Economics, Real Estate, Finance, Business Administration or comparable.

– Minimum of 15 years of development management experience on major real estate development projects, primarily master planned city developments.

– Experience in the MENA property sector is highly desirable 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, acquisition, to project structuring, design, construction, commission and operation.

– Exceptional communication and negotiation abilities with strong organizational skills and capacity to work under pressure.

Skills Required

  • Real EstateReal Estate Development
  • High Rise Residential
  • Residential Design

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