Commercial Manager

2 weeks ago

Dubai, United Arab Emirates MAG Property Development Full time

Job Brief:
This role requires a deep understanding of real estate markets, financial analysis, negotiation skills, and strategic planning. The Commercial Manager is responsible for overseeing and managing all aspects of the company's commercial real estate projects, from initial feasibility studies to lease or sale agreements. He is also responsible for overseeing and managing all aspects of procurement and sourcing activities within the organization ensuring cost-efficiency, quality, and timely delivery of materials, services, and equipment needed for real estate development projects. The Manager will work closely with various departments, suppliers, and contractors to optimize procurement processes and contribute to the overall success of the real estate development projects.

Role and Responsibilities:

- Conduct financial feasibility studies to assess the viability of potential real estate development projects.
- Develop budgets and financial plans for individual projects.
- Manage project budgets throughout the development process, tracking expenses, and ensuring adherence to financial plans.
- Identify cost-saving opportunities and strategies to optimize project profitability.
- Negotiate and manage contracts with contractors, suppliers, and vendors.
- Ensure that contracts are in compliance with legal and regulatory requirements.
- Monitor contract performance and resolve disputes when necessary.
- Establish and maintain strong relationships with suppliers, contractors, and vendors.
- Evaluate and select suppliers based on performance, quality, and cost-effectiveness.
- Negotiate and manage contracts, terms, and conditions with suppliers to ensure favorable agreements.
- Streamline procurement processes and workflows to improve efficiency and reduce lead times.
- Identify and assess potential risks associated with real estate development projects.
- Develop risk mitigation strategies to minimize financial and operational risks.
- Collaborate with project managers to ensure that projects are delivered on time and within budget.
- Monitor project progress and provide financial guidance to project teams.
- Track key performance indicators (KPIs) to measure project success.
- Prepare regular financial reports for senior management and stakeholders, summarizing project performance, budgets, and financial forecasts.
- Provide insights and recommendations based on financial data analysis.
- Communicate financial and commercial updates to internal stakeholders, and external partners.
- Build and maintain strong relationships with financial institutions, investors, and other relevant parties.
- Manage a team of commercial and financial professionals, providing guidance, support, and mentorship.
- Foster a collaborative and results-oriented work environment.
- Stay updated on industry best practices and emerging trends in real estate development and finance.
- Continuously seek opportunities to enhance processes and improve efficiency.
- Ensure procurement activities adhere to legal and ethical standards, including compliance with relevant laws and regulations.
- Implement and enforce company policies related to procurement.

Top Key Performance Indicators (KPIs):
Contract Management:

- Contract Renewal Rate: Measure the percentage of commercial contracts that are renewed successfully.
- Contract Compliance: Monitor the adherence to contract terms and conditions by all parties involved.

Cost Control:

- Budget Adherence: Ensure projects stay within budget by tracking actual expenses against the approved budget.

Risk Management:

- Risk Mitigation: Evaluate the effectiveness of risk management strategies in commercial contracts and transactions.
- Compliance and Ethics: Ensure that all commercial activities and contracts comply with legal and ethical standards, with KPIs related to compliance audits and violations.

Supplier Performance Metrics:

- Includes metrics such as on-time delivery, quality of materials, and adherence to contractual terms. It ensures that suppliers are meeting their obligations and delivering value.

Procurement Cycle Time:

- Measures the average time it takes to complete the procurement process, from requisition to supplier delivery. Shorter cycle times indicate efficiency and reduced project delays.

Contract Compliance Rate:

- Determines the percentage of contracts that are adhered to by both the organization and suppliers. High compliance rates ensure contract terms are met.

Purchase Price Variance (PPV):

- Measures the variance between the negotiated purchase price and the actual purchase price paid for goods or services. A positive PPV indicates cost savings.

Qualifications and Attributes:

- Bachelor's degree in Quantity Surveying or Civil Engineering or Equivalent. A master's degree in Quantity Surveying or Construction Law can be advantageous.
- Membership of the Royal Institute of Chartered Surveyors (MRICS)
- 15 to 20 years of experience in Construction Industry.
- Ex

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