Director – Real Estate Development – Retail Segment at NEOM

Director – Real Estate Development – Retail Segment at NEOM

NEOM is looking for Direct development activities and provide strategic leadership and tactical implementation for the organization’ real estate projects for the retail 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, lease strategy, risk register and exit strategy) of the retail real estate projects.

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

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

·       Provide regular update of the performance of the retail 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 retail 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 Retail 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, leasing agreements, 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 leasing 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 leasing 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.

·       Develop and actively lead the risk mitigation measures to ensure that the business cases are secured to meet profit and turnover targets.

·       Manage internal and external teams to ensure that feasibility, program, design, technical, quality and leasing / sale specifications of the projects are achieved through to completion and handover.

·       Manage teams of Development Managers. Mentor them with regard to their working style, professional expertise and quality of project execution.

·       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 cases.

Management of the cross-functional relationship with internal and external stakeholders.  Contribute to the design and implementation of NEOM’s Real Estate strategic objectives and goals by providing specific inputs.

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 with strong focus on Retail development and Leasing.

– Experience in the MENA property sector is highly desirable working for a top tier Real Estate Developer.

– Proven expertise in retail 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 Estate Development
  • Real Estate
  • Retail Category Management

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