Development Director – Higher Education Assets
Kingdom of Saudi Arabia
Permanent, full time (relocation opportunity)
About the role
On behalf of our client, The Management Recruitment Group have been retained exclusively to recruit to the post of Development Director – Higher Education for a large project based in Saudi Arabia. This role will be responsible for leading the performance management of Real Estate Developments from project inception to delivery and handover.
Our client is at the very start of a five-year programme with a multi-billion dollar portfolio of projects. The successful candidate in this competition will be a subject matter expert in the development and delivery of higher education development projects, research and development schemes and educational assets, leading all development activities across a number of key strategic locations and building a capable team underneath.
With most projects still requiring funding and business case preparation, this is a multi-faceted role requiring a full range of skills and capabilities.
You will be responsible for:
- Directing development activities and providing strategic leadership and tactical implementation for the organisation’s education real estate projects across the region.
- Leading 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 relevant real estate projects.
- Producing 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.
- Preparing the delivery strategy of the development, coordinating with and integrating the input from other support functions including technical, legal, finance, market research, sales, and marketing and operation to deliver the project development plan.
- Providing regular updates of the performance of the education 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.
- Managing the preparation and regular review of the project specific development and design briefs to ensure its alignment with the project business objectives.
- Establishing, updating and regularly reporting on the consolidated risk register and mitigation measures.
- Instructing, organizing and coordinating 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.
- Reviewing the property laws and provide advice on its impact on the development.
- Reviewing and highlighting 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.
You will need to be
As an experienced Real Estate Development Director, you will have a strong background and track record in the delivery of higher education development projects, Master planning and full lifecycle delivery. You will have ideally having worked as Development Director for >$100m portfolio of development projects on behalf of a university, higher education institution or having held Director roles in blue chip main contracting, consultancy or government organisations. You will be possess demonstrated experience in commercial and financial elements of JV structures including procurement, and the ‘front end’ delivery of design, development and asset management.
You will focus on development & placemaking for Phase One from an ROI perspective, to ensure the success of phase two and a conceptual / visceral perspective. As such, our client is very open to both transactional development directors that will focus on the dollars and cents as well as destination developers that will ensure these future unversities and institutions will be world-class, leading establishments.
You do not need to have overseas experience to apply for this role.
Background, Skills and Qualifications
- Bachelor’s Degree in engineering, Construction Economics, Real Estate, Finance, Business Administration or comparable / similar appropriate qualification.
- Minimum of 15 years of development management experience on major real estate development projects, with top reputable Developers, client side higher education organisations or consultancies.
- Experience in the MENA property sector is highly desirable, though not essential, 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 modelling & real estate market dynamics.
- Substantial experience managing the real estate development process, from project initiation, acquisition, to project structuring, design, construction, commission and operation.
In return, you will be able to have direct oversight and responsibility for one of the world’s most exciting projects. You will be offered a generous compensation package, which will include a guaranteed high basic, bonus, pension, a sign-on bonus and relocation. You will also have your housing, food, transport, flights, laundry and housekeeping all provided free of charge.
What to do now
For a confidential discussion, please contact Matthew Donovan (Matthew.Donovan@mrgpeople.co.uk) of The Management Recruitment Group on +447964 465 343. Applications should consist of a CV and a relevant project list.
Applications are open until the role is filled. As there are multiple positions to fill, we will be holding weekly shortlisting meetings with our clients until all posts are recruited to.
Equality & Diversity Statement
The Management Recruitment Group shall not discriminate unlawfully when deciding which candidate/temporary worker is submitted for a vacancy or assignment, or in any terms of employment or terms of engagement for temporary workers. The Management Recruitment Group will ensure that each candidate is assessed only in accordance with the candidate’s merits, qualifications and abilities to perform the relevant duties required by the particular vacancy.