Commercial Manager | Real Estate | Asset Development

Job Requisition ID: 181939 

About Al-Futtaim
Established in the 1930s, Al-Futtaim is one of the most diversified and progressive privately held regional businesses, headquartered in Dubai. Operating across more than 20 countries, the Group spans automotive, financial services, real estate, retail and health. With more than 40,000 employees, Al-Futtaim represents over 200 of the world’s most recognised brands, including Toyota, Lexus, IKEA, ACE and Marks & Spencer. Driven by its purpose to enrich lives and elevate communities, Al-Futtaim focuses on digital innovation, AI, sustainable growth and strategic partnerships, creating long-term value for customers, communities and partners while building a responsible legacy for future generations.

The Commercial Manager oversees the full commercial lifecycle of assigned real estate development projects, ensuring commercial control, timely procurement, and adherence to budgets and governance requirements. This role collaborates closely with development, design, project management, and finance teams along with external consultants and contractors, to ensure value-for-money solutions that protect the commercial interests of the business. The Commercial Manager is vital in supporting project success through robust procurement strategies, effective risk management, and detailed commercial reporting.

Pre-Contract Commercial Management

• Prepare feasibility-level and pre-concept cost estimates to support early development decisions.
• Review, challenge, and validate estimates, cost plans, and budgets produced by external cost consultants.
• Develop and maintain project cost benchmarks using relevant market and historical project data.
• Provide commercial input throughout concept and design development, including advice on cost risks, opportunities, and budget implications.
• Lead value engineering exercises and evaluate alternative design, specification, procurement, and construction solutions without compromising the required quality or functionality.
• Formulate project-specific procurement strategies, including contract packaging, procurement routes, tender sequencing, market engagement, and recommended forms of contract.
• Support business cases and stage-gate reviews with clear commercial analysis.

Procurement and Tendering

• Manage end-to-end procurement of professional consultancy services, including design, project management, cost consultancy, supervision, and specialist advisory appointments.
• Manage tendering of construction works, including enabling works, infrastructure, main works, fit-out, specialist packages, and other project-specific scopes.
• Prepare and coordinate tender documentation, commercial schedules, pricing requirements, bid instructions, and evaluation criteria.
• Perform detailed commercial evaluations, bid normalization, clarifications, and tender negotiations.
• Prepare clear tender evaluation reports, award recommendations, approval memoranda, and contract documentation.
• Ensure procurement activities are competitive, transparent, auditable, and compliant with company governance and delegated authority requirements.
• Streamline procurement processes through improved workflows, standardized templates, clear accountability, and disciplined tender planning.
• Monitor procurement schedules and proactively address issues that may affect project milestones.

Post-Contract Commercial Management

• Maintain effective commercial and contractual control throughout project delivery.
• Review and assess interim payment applications and support timely certification and payment processing.
• Monitor approved budgets, commitments, expenditure, forecasts, contingency usage, and projected final cost.
• Manage variations and change control from initiation through evaluation, negotiation, approval, and incorporation into the project forecast.
• Assess contractual notices, prolongation costs, extension-of-time submissions, disruption claims, and other contractor or consultant claims.
• Prepare commercial assessments and negotiation strategies for the resolution of claims and contractual issues.
• Lead final account negotiations and achieve timely, well-documented commercial close-out of consultant and contractor appointments.
• Maintain complete commercial records and support project audits, governance reviews, and dispute avoidance activities.

Commercial Reporting and Governance

• Prepare concise, executive-level memoranda, approval papers, and commercial recommendations.
• Produce accurate monthly commercial reports covering budget status, commitments, forecast final cost, changes, risks, opportunities, claims, and procurement progress.
• Prepare and maintain project cash flow forecasts and funding projections.
• Present commercial updates and recommendations to senior management and project stakeholders.
• Escalate material commercial risks and provide practical mitigation actions.
• Ensure commercial information is accurate, traceable, and suitable for management decision-making.

• Advanced cost estimation and benchmarking skills.
• Expertise in procurement strategy, tendering, and bid evaluation processes.
• Proficiency in handling construction contracts and change management.
• Strong financial acuity and excellent report writing capabilities.

• Bachelor's degree in Quantity Surveying, Commercial Management, Construction Management, Civil Engineering, or related discipline.
• MRICS preferred; an equivalent internationally recognized professional qualification will also be considered.
• Substantial experience in commercial management or quantity surveying within real estate development and construction.
• Demonstrated experience in pre-contract estimating, procurement, and post-contract commercial management.
• Proven experience managing consultant appointments and construction tenders from market engagement through contract award.
• Experience on high-end private developments and/or luxury hotel projects is strongly preferred.
• Background in working for a developer, leading cost consultancy, or major contractor is advantageous.
• Strong analytical, negotiation, and communication skills with an aptitude for financial reporting and commercial assessments.

About Al-Futtaim Real Estate

With a legacy of more than six decades in real estate and asset management, Al-Futtaim Real Estate – part of Al-Futtaim – creates real impact on the communities it serves through long-term investment and growth. As one of the region’s leading private developers, the company plans, creates and manages developments across the MENA region.  

Al-Futtaim Real Estate has a diversified, multi-billion-dollar portfolio across the real estate value chain and asset types such as residential, commercial, malls and industries including hospitality, healthcare, infrastructure and education. Flagship mixed-use urban communities include Dubai Festival City and Cairo Festival City.  

Al-Futtaim Real Estate is also responsible for Al-Futtaim Contracting, a fully integrated, end-to-end specialist division operating across the UAE, Saudi Arabia, Qatar and Egypt. The business has delivered industry-leading construction, engineering, technology and FM solutions for more than 50 years.