Senior Manager - Development | Real Estate | Asset Development

Job Requisition ID: 160876 

Established in the 1930s as a trading business, Al-Futtaim Group today is one of the most diversified and progressive, privately held regional businesses headquartered in Dubai, United Arab Emirates. Structured into five operating divisions; automotive, financial services, real estate, retail and healthcare; employing more than 35,000 employees across more than 20 countries in the Middle East, Asia and Africa, Al-Futtaim Group partners with over 200 of the world's most admired and innovative brands. Al-Futtaim Group’s entrepreneurship and relentless customer focus enables the organization to continue to grow and expand; responding to the changing needs of our customers within the societies in which we operate. 

By upholding our values of respect, excellence, collaboration and integrity; Al-Futtaim Group continues to enrich the lives and aspirations of our customers each and every day

Overview of the role
It is a crucial role in overseeing and managing the development of real estate projects from conception to completion responsible for the complete project development process. It involves working closely with various stakeholders, including finance, marketing, asset management, design, project delivery, to ensure successful asset development within established vision, timelines and budgets.

What you will do

• Develop and implement strategic plans for real estate development projects aligned with the organization's strategy.
• Determine the optimum land use and define each project vision based on market research and macroeconomic analysis.
• Prepare Development Briefs and Reports including identification of opportunities/risks; site conditions; outline project/stakeholders requirements; Financial Aspects, cost estimates and anticipated revenues; market studies; range of consultants and others to be engaged for the project; project feasibility studies and appraisals; funding options; project timeframe; proposed future actions and recommendations;
• Prepare and obtain different documents required for the preparation and approval of Preliminary, Investment and Project Budgets by different stakeholders in compliance with AFGRE policies and procedures;
• Establish and oversee budget of the Projects, ensure that Target KPIs (Sales Development Margin, NPV & IRR) and are maintained and lead necessary actions to mitigate any impact on project KPIs or enhance current KPI 
• Obtain information on project costs and anticipated revenues; communicate information to different teams to prepare Feasibility Business Cases;
• Lead the preparation for Sales and Leasing Committee meetings and advise - as a main member of the committee - on the sound pricing & sales strategies after performing necessary sales & market analysis
• Define & identify Unique Selling Points of different real estate products and ensure these USPs are met in the design and ensure that the intended messages about CFC brand and products are effectively communicated by the marketing activities providers.
• Monitor performance; report on development; review programs; and confirm cost and program compliance with business cases and to present designs to ensure adherence to time, cost and quality requirements;
• Provide regular and comprehensive updates to senior leadership on project status, risks, and opportunities.

Required Skills to be successful

• Minimum10 years of experience with at least 8+ years of experience in large-scale / complex Mixed Use real estate developments
• Strong financial acumen and the ability to analyse and structure complex financial deals.
• In-depth knowledge of local and regional real estate markets, regulations, and industry trends.
• Exceptional communication, negotiation, and interpersonal skills.

What equips you for the role

• B. Sc. in Architecture, Civil Engineering, or Construction Engineering

About Al-Futtaim Group Real Estate
The real estate development and operations arm of Al-Futtaim, Al-Futtaim Group Real Estate is responsible for a multi-billion-dollar portfolio across MENA. With high-quality residential, business, retail, tourism, educational and healthcare developments, the master developer caters to the diverse needs of cities and communities in the region. From origination, conception, development, sales, procurement and construction of mega-projects and the leasing, operation and management of these projects after completion, Al-Futtaim Group Real Estate (AFGRE) has been developing and managing owned landbanks, unlocking the economic potential of the region and contributing to future development for more than 40 years. 
Our focus is to enable and invest in meaningful relationships to make our properties the best places to live and work, build additional products and services and enable partnerships to create true value to our customers throughout their entire experience with us.
AFGRE is responsible for master planning of all projects in its portfolio, including two large scale mixed use destinations: Dubai Festival City and Cairo Festival City.