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Job Specification

  • Number of Vacancies: 1
  • Job Type: Full-time
  • Experience: Minimum: 8-10 years minimum
  • Industry: Investment Banking/Asset Management

Job Summary

  • Functional Area: Real Estate
  • Location: Riyadh, Saudi Arabia
  • Job Role: Head of Real Estate
  • Reporting to: Chief Investment Officer

JOB PURPOSE

  • Conduct a periodic inspection and visits for the properties.
  • Reviewing maintenance contracts.
  • Follow up on maintenance and services taking place.
  • Handle the tenants issues, requests and concerns and lease agreements with the property manager company.
  • Give suggestion for upgrading the properties.
  • Coordinate with the property manager assigned for the assets.
  • Visit assets willing to acquire and prepare reports for the management on the assets current condition.
  • Visit projects under development and prepare a periodic report on the progress.

KEY RESPONSIBILITIES

  • Provides management and direction for a portfolio of assets including ensuring that all terms and conditions embedded in any property management or project management contracts with third party or affiliated service providers are adhered to.
  • Formulates strategies to maximize value and performance of assets; communicates and monitors strategies as developed and implemented.
  • Monitors and reports portfolio risks to the Fund management.
  • Monitors monthly & quarterly Property Management reports prepared by third party or affiliated service providers. Routinely monitors actual asset performance compared to budget.
  • Oversee disposition process of existing assets, including overseeing marketing materials, due diligence, and closing requirements.
  • Provides property level updates for Fund’s quarterly reporting package.
  • Evaluates and reports on property performance relative to
    forecasts, asset strategies, and investment targets.
  • Quarterly and annual asset valuations in accordance with the Valuation Policies & Procedures as established by the Fund.
  • Participates in structuring and negotiating lease deals.
  • Coordinates and prepares materials required for submission to Investment Committee, Boards and institutional investors.
  • Monitors real estate market reconnaissance to keep apprised of changes in local markets.
  • Provides timely reporting of assets under development and monitors the Project Manager’s adherence to development reports.
  • Oversees and manages productivity of third party or affiliated leasing professionals and adherence to underwriting proformas.
  • Quality Assurance and Quality Control (QAQC) on all property performance information going to the Fund.
  • Drives post-opening absorption with property management and third party leasing agents.
  • Monitor major property level operational and capital expenditure issues.
  • Oversee the preparation of budgets and strategic plans for each asset.
  • Interacts with senior management, investors, brokers, and other third parties as needed regarding assets and/or asset
    performance.
  • Negotiates property management contracts with third party or affiliate service providers and monitors negotiation process with third-party property managers, as needed.
  • Assists, as needed, with the underwriting, due diligence, capital markets and closing processes of acquisition and development opportunities.

Interested candidates please send your CV and contact details to profiles@darlingtonme.com referencing ‘Head of Real Estate’ in the subject

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