Director - Development | Real Estate | Asset Development
Location: Dubai, AE
Job Requisition ID: 165483
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
The Development Director plays a key role in driving the success of real estate development projects, overseeing every phase from inception to completion. This role is pivotal in creating strategic value by identifying opportunities, planning, financing, and executing development initiatives. Collaborates with cross-functional teams, including finance, marketing, asset management, design, and project delivery, to ensure seamless execution of new developments and re-developments. By effectively managing resources, mitigating risks, and adhering to timelines and budgets, the Development Director ensures the delivery of high-performing assets that contribute to the organization’s growth and investment success.
What you will do
Develop and implement strategic plans for real estate development projects aligned with the organization's strategy. Conduct comprehensive market analysis to identify opportunities and assess project feasibility. Oversee the financial aspects of development projects, including budgeting, forecasting, and financial analysis. Develop comprehensive plans, outlining key milestones, timelines, and resource requirements. Collaborate with finance, design, project management and other departments to implement development plans. Oversee the entire development lifecycle, from project inception to completion, ensuring adherence to timelines, quality standards, and budget constraints. Build and maintain relationships with stakeholders and other relevant parties. Identify potential risks and challenges associated with development projects and implement proactive risk mitigation strategies. Ensure that projects adhere to company standards, industry best practices, and regulatory requirements. Conduct regular site visits and inspections to monitor progress and quality. Provide regular and comprehensive updates to senior leadership on project status, risks, and opportunities. Prepare and present reports to stakeholders and other relevant parties. Foster a collaborative and innovative work environment to maximize performance.
Required Skills to be successful
20+ years of experience in real estate development, with a proven track record of successfully delivering large-scale / complex Mixed Use real estate developments. Must have experience across all asset classes but predominantly Residential. Experience in MENA region is preferred.
What equips you for the role
Bachelor’s degree in a relevant discipline (Real Estate, Urban Planning, Architecture, Engineering, Business etc.) Strong financial acumen and the ability to analyze and structure complex financial deals. In-depth knowledge of local and regional real estate markets, regulations, and industry trends.
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.
