Head of Development at First World Communities Ltd

Job Summary: 

• The job holder will lead with the CEO to implement FWC’s housing development goals including a pipeline of affordable rental and homeownership developments.
• Overall responsibility for originating, coordinating, and implementing all aspects of affordable housing project development – from deal origination and feasibility through acquisition, construction, and closing. Projects will include new construction and acquisition/rehabilitation, as well as joint ventures with other developers/land owners.

Key Results:

• Strong Development Programme – In line with the Strategic Plan achieve start on-site on up to 3000 units by March 2028.
• Strong Processes – Initiate and lead the development and implementation of key interval development systems, procedures and processes required to establish a high performing development team.
• High Performance Team – Establish a high performing development team including recruiting, facilitating training and development and providing effective leadership.

Job Responsibilities:

 This job holder will be responsible for the following:

• Prepare Annual Development Plan including input from other support functions; technical, legal, finance, market research and, sales teams.
• Prepare and develop new housing products aligned with the company’s vision.
• Identify potential development opportunities including sites, joint venture partnerships, development programmes etc.
• Coordinate preparation of proposals, selection interviews etc.
• Carry out adequate financial viability appraisal of schemes assigned to the postholder at various stages to ensuring that projects meet and continue to meet the company’s investment objectives.
• Managing budgets, securing project funding, conducting financial analysis, and ensuring projects are delivered within budgetary constraints.
• Conduct all physical, financial, and operational due diligence on potential investments during feasibility, acquisition, and predevelopment phases.
• Identify potential risks associated with projects and implement strategies to mitigate them, ensure projects progress smoothly.
• Conduct market research, feasibility studies, and due diligence to assess the viability of potential development opportunities.
• Initiate Scheme Feasibility and Report to the Executive Management for approval to proceed;
• Coordinate pre-development and development activities including but not limited to a) lender relationships b) legal documents c) financial planning including development and operating budgets with multiple sources d) construction documents e) ongoing management of project financials.
• Monitor and track construction progress and cost to ensure timely project completion.
• Direct and manage the Development Project Execution Team responsible for the construction of projects, coordination of designers and consultants and general contractor, etc.
• Oversee compliance with city, state, and federal oversight agencies and with private investors/lenders requirements and covenants.
• Develop and implement quality control arrangements on each development scheme.
• Coordinate marketing and lease up process and transition to stabilize operations, working with internal departments (asset management, property management, fiscal, and resident programs) before, during, and after construction to ensure smooth tenant relations and transition to operations.
• Engaging with local communities, addressing concerns, and ensuring that projects align with community needs and expectations. Develop and facilitate the procurement of approved projects including arranging and coordinating all design inputs, obtaining internal and statutory approvals, negotiation of building contracts and overall project management to completion.
• Provide regular updates and reports to senior management, stakeholders, and investors, communicating project progress, challenges, and milestones.
• Provide in-house expertise on sustainability towards the Company’s objective of reducing carbon emission from the wide range of its operations and the homes it provides.
• Prepare project update reports monthly or as necessary to Management to support effective oversight.
• Chair Project Progress Meetings

Skills & Competencies

• Minimum of 10 years of development management experience on housing/real estate development projects
• Highly developed written and oral communication skills, including preparation of reports, briefing papers, and correspondence.
• Must have proven ability to manage multiple real estate development projects simultaneously, to lead teams of contractors and external consultants, and to effectively solve problems on a variety of issues that may occur during the real estate development process.
• Highly developed written and oral communication skills, including preparation of reports, briefing papers, and correspondence.
• Excellent organizational coordination, problem-solving, and time management skills, including the planning and managing of multiple projects.
• Complex solving skills.
• Entrepreneurial mindset and attitude.
• Project management
• Budgeting and accounting
• In-depth knowledge of real estate law and regulations

Educational Qualification:

• A degree in Real Estate, Built Environment, Construction Management, Finance or other relevant courses are preferred.
• Membership of a relevant professional body will be an advantage.