VP, Real Estate, Project Development Unit (Req ID: 13623)Posted: July 22nd 2022
VP, Real Estate, Project Development Unit
The Real Estate (RE) arm of GIC invests in real estate and real estate-related assets outside of Singapore. We manage a well-diversified portfolio covering over 40 countries in property sectors such as office, life science, data center, residential, senior living, healthcare, retail, hotel, industrial, niche sectors and companies.
Real Estate – Project Development Unit (PDU)
The PDU acts as the technical support group for the investment team. PDU’s primary focus areas are to actively manage and monitor all technical due diligence, engineering, development, maintenance, and facilities management issues for both new and existing investments. PDU assist in fee negotiations, development of key contractual documents and contract negotiations with Sellers, partners, and consultants as necessary.
- Oversight of engineering, development, technical design, maintenance and facilities/property management issues/operations for existing and new investments within Europe. Oversee, monitor and control Capital Development Program in our portfolio (across multiple sectors) to include but not limited to; at the development and construction perspective: risk, budget modelling, schedules, design diligence, ESG, draw and capital requests, periodic reporting, and data benching marking management and metric and analytic development. This role will be working with our partners to develop best-in-class and value add strategies for our investments from a technical perspective.
- Provide leadership, assessing and confirming development related risk and assumptions at the underwriting stage, including construction cost, schedule (program), development potential, third party risks and capability of development partner and consulting teams.
- Lead the technical due diligence process, from selection of the professional team to resolution of issues with the counterparty and delivering relevant inputs to protect GIC’s interests.
- Provide strategic input into the deal team with regard to operational, development and refurbishment strategies.
- Assemble and manage a team of best of class consultants to perform needed tasks on short notice and coordinate findings to investment team.
- Review and approval of annual capital, op-ex and non-recurring op-ex budgets for major holdings/assets
- Work within a team and be an active team player.
- Minimum of 10 professional years’ experience with a high degree of technical competence in various sectors’ assets with ability to manage all technical due diligence and ownership/operations issues that arise including structural, building envelope, MEP, environmental, sustainability, vertical transportation, fire/life safety, development and redevelopment and reporting.
- Demonstrate leadership skills and show an up to date track record in development management, including pre-acquisition diligence, strategic planning, development of comprehensive cost plans, assemblage of development teams, planning & entitlement processes, project monitoring, institutional reporting and contract negotiation/management.
- Strong knowledge of development, construction, asset/property management, engineering and operations, architectural and consultants’ contracts, and ability to structure fees, terms and conditions to optimize pricing and performance, including strong negotiating and contract documentation skills.
- Able to perform extensive national and international travel as required and work effectively across many countries, cultures and languages.
- Excellent analytical skills
- Excellent budget management skills
- A strong understanding of emerging ESG and Sustainability Legislation.
- Strong negotiating skills.
- Strong oral and written communication abilities
- Effective team player with ownership mentality
- Strong project, development, construction and design management experience
- Fundamental understanding of Real Estate finance and economics terminology and transaction process
- Ability to lead discussion on building materials and systems.
- 5 years-experience working “in the field” on construction projects managing and/or facilitating installation
- Experience with design teams from programming through completion
- Experience working/collaborating with or for building operations
- Strong project management experience to include schedule and budget development, reviews, monitoring and project controls and risk identification and mitigation strategies and management
- Ability to forensically discern root causes in project and building systems, articulately present and defend findings.
- Ability to seek Value Add opportunities
- Strong advocacy skills
- Construction Management, Civil Engineering, Mechanical Engineering degree (undergraduate or advanced) minimum. Practical Field Experience is essential
Diversity, Equity & Inclusion is an expression of our corporate values of Prudence, Respect, Integrity, Merit & Excellence (PRIME). The way we work is founded deeply on respect for one another and a clear sense of purpose. By making inclusion explicit, we want our global organization and our international community to know that we can bring diversity of talent and thoughts – our whole selves – to GIC, as we all strive to invest well for Singapore. We believe an inclusive environment yields exceptional contribution. When diverse teams feel included, we build shared belonging: to one another and to GIC.
All applicants who qualify for the role will receive consideration for employment without regard to race, age, religion, sexual orientation, gender identity/expression, socio economic background or disabilities. GIC (Europe) is pround to be a Disability Confident Committed Employer. Please email [email protected] at any point of the application or interview process if adjustments need to be made due to a disability.
Our PRIME Values
GIC is a values driven organization. GIC’s PRIME Values act as our compass, enabling us to fulfil our fundamental purpose and objectives. It is the foundational bedrock which governs our behaviors, our decision making, and our focus. It informs both our long-term strategy as a firm, and the way we relate to our Client, business partners and employees. PRIME stands for Prudence, Respect, Integrity, Merit and Excellence.