Chief Development Officer

Reporting to: CEO

Job Purpose

To define and manage the Business Development strategy for the assigned portfolio of real estate projects of the company by identifying prospective business development opportunities and leading the entire process from business case development, concept definition to financial feasibility with the aim of growing the company’s portfolio in line with the overall business plan.

Accountabilities

Strategy Development, Planning and/or Contribution

• Develop and direct the implementation of the department strategy ensuring alignment to divisional strategy, the company’s vision, mission, and corporate objectives.
• Ensure that department strategy and related strategic plans are developed and implemented, which are aligned with the vision and mission of the company.
• Ensure the provision of subject matter expertise for the assigned domain and provide counsel to the company leadership on all related areas to facilitate the achievement of the company’s strategy and departmental strategies.
  
  

People Management

• Manage the effective achievement of department objectives through effective leadership and by setting of individual objectives, managing performance, developing, and motivating team to maximize performance.
• Lead the talent development initiatives for the assigned department, collaborating with divisional experts and thereby ensure the availability of talent to fit business requirements.
  
  

Budgeting and Financial Performance

• Oversee the consolidation, recommend the department budget and monitor financial performance versus the budget so that the business is aware of anticipated costs/revenues, areas of unsatisfactory performance are identified, and potential areas of cost reduction or performance improvement opportunities are capitalized upon .
  
  

Policies, Systems, Processes & Procedures

• Develop and lead the implementation of departmental policies, systems, processes, procedures, and controls covering all areas of assigned department so that all relevant procedural/legislative requirements are fulfilled while delivering a quality, cost-effective service in a consistent manner.
  
  

Change Management

• Lead the management of change through continuous improvement of departmental systems, processes and practices taking into account global standards and changes in the business environment which demand proactive action plans.
  
  

Reporting

• Ensure that all departmental reports are prepared timely and accurately and meet the company requirements, policies, and quality standards.
  
  

Project Management Framework

• Lead the development strategies of business cases, feasibility studies and financial models for all assigned real estate project opportunities and oversee this process across the various stages of the project lifecycle.
• Provide necessary input and coordination with the Private Sector Partnerships in the preparation of investors’ pitch material.
• Act as a Centre of Excellence to support Delivery teams in maximizing returns from developments and operational properties and carrying through learnings from one downtown to another.
• Conduct handover of feasibility studies and financial models to Asset Management department once assets are activated and stabilized.
• Survey the market for identifying and analyzing the design and construction project needs for maximizing the opportunities of getting real estate projects.
  
  

Feasibility Study Development

• Oversee the development of business cases, feasibility studies and financial models for all assigned real estate project opportunities overseeing the process across the various stages of the project lifecycle.
• Oversee and review the technical feasibility studies including the economic impact and the estimated required capital and operating costs for each development concept, in coordination with the relevant parties to ensure profitability for the company and relevant parties.
• Ensure coordination with Sales & Leasing for all sales and leasing related assumptions, and other market performance indicators (e.g., lease rates, occupancy rates, real estate prices, trends).
• Ensure effective coordination with Finance on project financing assumptions (e.g., target returns, cost of debt) to have necessary input into feasibility studies and financial models.
• Ensure effective coordination with Design and Delivery on initial costs and schedule, and detailed budget and schedules for feasibility updates.
• Ensure regular updates of feasibility studies and financial models as projects evolve in their development phases and communicate updated projections to concerned stakeholders as needed.
  
  

Development Management

• Coordinate the activities of contractors and internal teams during the development phase of various types of assets (e.g. hotels, residences, retail, offices, etc.) to ensure that concepts are delivered within the expected timeline, budget and pre-set specifications.
• Recommend and evaluate the projects’ concepts ideas as directed by Senior Stakeholders and service providers in order to create the project vision and mission statements.
• Define general outlines for the project desired design standards and solutions to be implemented in the design process in coordination with the Design teams in order to ensure that the design delivery is aligned with the asset development plan.
• Oversee the evaluation of asset development opportunities of the received inputs from the design parties to ensure that all design directions and approaches are effectively enhancing the development of assets.
• Provide expertise throughout the project development process through defined business plans in order to ensure alignment of project parameters and standards of excellence with global and local best practices and legislative requirements.
• Ensure that all development plans of the company projects are incorporating the community’s needs and are aligned with the overall vision for the assigned project.
  
  

Job Requirements

• Bachelor’s degree in Architecture, Civil Engineering, or any other related field
• 12+ years of relevant experience in Real Estate Development, or any related field including at least 3years in positions of progressively increasing managerial responsibilities.