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Senior Commercial Manager – Al Futtaim Group Real Estate

Al Futtaim Group


Ref: HP698-5800

The Role

Al-Futtaim Group Real Estate (AFGRE) is the real estate development and operations arm of Al-Futtaim group which is headquartered in Dubai. AFGRE is responsible for the origination, conception, development, procurement and construction of mega projects and the leasing, sales and operation of these projects after completion.

In addition, AFGRE develops and operates an extensive multi-million dollar portfolio of individual corporate real estate and investment assets across the MENA region.

The two current flagship mixed use urban communities under the Festival City brand are the award winning, Dubai Festival City (5.2 million square metres) and Cairo Festival City (3 million square metres).

We are looking for a Senior Commercial Manager to manage all internal and external parties involved in the timely approval payments to Consultants and Contractors and oversee the management and reporting of these payments against the Project Budgets. Responsible for the management of all contract documentation pre and post award.

They will be repsonsible for:

Responsibility for:

* The monitoring, management and approval of all payments against the Main Contractors budget.
* The monitoring, management and approval of all payments against all the Consultancy budgets.
* Change Control Management.
* Reporting to the Funding Banks from the DM Team

Key Accountabilities will be:

* The development and implementation of the processes and procedures necessary to collate and produce overall and individual cost reports and forecasts within the Project Budget
* Working with the Project Consultants to include an effective procurement strategy supported by robust contractual terms within the Main Contractor's Contract
* The verification of payments to the Contractor and Consultants on behalf of the Development Manager.
* The establishment and management of Change Control procedures and the reporting on its status
* The preparation of PCG and Funding Bank Reports
* Prepare and Report Risk Forecast and Management (Trending) against the Contingency allowances
* The reporting of Project Cash Flow
* Assist in the review and settlement of all Contractual claims
* Provide analysis of the QS reports and provide relevant input into the monthly Progress Reports
* Report against the Leasing contingency / lessor works budget (LCRs and TVRs) to ensure the allowed budget is not exceeded.

The role requires the commercial management of the integral interface between the project parties responsible for all commercial aspects of the project from contracts administration to preparation and reporting of internal commercial reports.
The essential qualities and abilities required to successfully undertake this role requires strong people management, problem solving and organisational skills. Experience and knowledge in contract negotiation, risk management, project management and financial management with the ability to lead the various commercial stakeholders of the project.
The Senior Commercial Manager must have exceptional communication skills with an ability to digest the diverse commercial reports of the development, as provided from the Consultants and Contractors, and report accurately and effectively the risks and potential solutions to the executive teams within AFGRE and BASREC. They must have a powerfully analytical mind, since they have to process an enormous amount of information and make proposals / recommendations that can determine the success or failure of the Project.
This  role is a senior appointment, reporting directly to the Development Director, and requires the successful candidate to have the necessary experience, knowledge, management and personal skills to be able to attend and contribute within high level board meetings (when required). In addition to attending management review meetings; contributing to construction site/ progress meetings. The successful candidate will also be required to attend and contribute as a senior member of the PCG (project control group).


Minimum Qualifications and Knowledge:

* The successful completion of a suitable, related tertiary qualification (e.g. BSc in Quantity Surveying or Estate Management) and/or membership of a professional institute (e.g. RICS or AIQS) is necessary however work experience specific to the requirements of this position has higher weighting.
* A proven expertise in administrating high value, multi-disciplinary construction work projects

Minimum Experience:

* 20 years' experience in this field with a proven track record of the successful delivery of major developments is a minimum requirement while experience working with major International Shopping Centre owners and developers although not essential is an advantage.
* An in depth experience of maintaining contract compliance and driving value within complex construction projects
* The candidate must have direct experience and be able to show a successful history working directly in the area of Commercial Management.
* A minimum of 5 years work experience within the Middle East is preferred

Job-Specific Skills:

* An effective people manager
* Knowledge and understanding of the requirements to manage multiple projects / reports as part of a major development.
* Strong problem solving skills
* Budget management and a strong understanding of how decisions can impact the ROI of the project
* Working knowledge of Word, Excel and Powerpoint essential for undertaking the role.

Behavioural Competencies:

* Strong team building and people management skills - Leadership.
* Professional communication skills
* Knowledge of relevant cause and effect of actions in this field
* Proven mentoring skills

About the Company

Established in the 1930's, the Al-Futtaim Group initially operated as a trading enterprise. Rapid development throughout the 1940's and 50's saw it establish itself regionally as an integrated commercial, industrial and services organisation, positioning itself one of the leading business houses in the lower Gulf region. Today, it operates collectively over 40 companies bearing the Al-Futtaim name, dominates many market segments in the UAE, and has expanded its sphere of operation to include Bahrain, Kuwait, Qatar, Oman and Egypt.

The Group comprises a diverse range of strategically positioned operating subsidiaries and associate companies, structured to give the Al-Futtaim Group the flexibility and versatility to keep ahead of local competition while keeping pace with the ever-evolving global business scenario. The Groups continued investment in world-class systems technology is clear evidence of its commitment to maintain leading edge performance and service delivery.

The success of the Al-Futtaim Group can be attributed to a business approach that combines the ability to change with the traditional values of integrity, service and social responsibility that define its core business philosophy. This, linked with the Groups belief in decentralisation, gives the heads of the operating companies a high degree of functional autonomy and authority, providing the Group with essential flexibility, and individual employees a clearly defined work culture and sense of responsibility.

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