Head of Real Estate – Riyadh

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