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Director - Portfolio Management (Development to Hold)

aldar

JOB PURPOSE

Oversees the performance of the D-Hold portfolio across its lifecycle – underwriting, programming, analysis and reporting – so that every held asset delivers or exceeds its underwritten returns.

Leads third-party capital sales (JVs, co-investments, stake sales and fund/club vehicles) to recycle capital and fund the development pipeline.

Acts as the single point of alignment between Development and the Investment team’s portfolio managers, so development decisions, hold periods and exits match portfolio strategy.

JOB RESPONSIBILITIES

Portfolio Strategy & Performance

• Develop and maintain the D-Hold portfolio strategy, annual business plans and hold / sell / recycle plans for each asset, aligned to the Chief of Development’s priorities.
• Monitor asset and portfolio performance against the underwritten case (IRR, yield-on-cost, NOI, occupancy) and implement corrective action plans where variances arise.
• Establish portfolio construction guidelines covering sector, geography, risk and concentration limits.

Underwriting & Programming

• Direct the underwriting of new and existing projects, including Build-to-Rent, ensuring consistent assumptions, sensitivity testing and Investment Committee (IC)-ready papers.
• Oversee programming and product-mix decisions to maximise asset value, marketability and investor appeal.
• Review and sign off feasibility models and business cases before submission to the Chief of Development and IC.

Third-Party Capital Sales

• Lead origination, structuring and execution of third-party capital transactions – JVs, co-investments, partial stake sales, forward funding and fund/club deals.
• Build and manage a pipeline of institutional capital partners (sovereign wealth funds, pension funds, insurers, family offices).
• Prepare investor materials and data rooms; lead negotiation of term sheets, shareholder and JV agreements with Legal and Finance.
• Manage ongoing relationships and reporting obligations to capital partners post-close.

Investment Team Interface

• Serve as the primary counterpart to Investment team portfolio managers, aligning asset plans, capital allocation, hold periods and exit timing with portfolio mandates.
• Implement joint governance: regular portfolio reviews, shared assumptions and a defined handover protocol from development to stabilised asset.

Portfolio Analysis, Reporting & Governance

• Oversee portfolio analysis and reporting – monthly dashboards, quarterly valuations, and Board / IC reporting – ensuring accuracy and timeliness.
• Enforce document control, data integrity and audit readiness across all portfolio records.

People Leadership

• Lead, coach and develop the Underwriting, Programming and Portfolio Analysis & Reporting teams; set team goals, KPIs and development plans.
• Build succession cover for SVP roles and grow team capability in underwriting, capital markets and analytics.

YoE, SKILLS & QUALIFICATIONS

Years of Experience

• Min. 14 years in real estate investment, private equity real estate or development, with at least 5 years in a senior leadership position.
• Min. 6 years of managerial experience leading multi-disciplinary teams.
• Proven record of raising third-party capital and structuring JVs / co-investments with institutional investors.

Technical and Interpersonal Skills

• Expert financial modelling, underwriting and valuation (DCF, IRR, JV waterfalls).
• Capital markets, JV structuring and investor relations.
• Portfolio construction, asset management and risk management.
• Executive-level negotiation, influencing and stakeholder management.
• Software: Advanced Excel, Argus Enterprise / Developer, Power BI or Tableau.

Qualifications

• Bachelor’s degree in Finance, Real Estate, Economics, Engineering or related field.
• Master’s degree (MBA or MSc Real Estate / Finance) preferred.
• CFA, MRICS or CAIA preferred.

KEY MEASURES OF SUCCESS

• Third-party capital committed and closed vs. annual target (value and number of transactions).
• Portfolio returns vs. underwritten case – IRR, yield-on-cost and NOI variance within agreed tolerance.
• 100% of IC papers submitted on schedule, with no material re-underwriting after approval.
• Portfolio reports issued within 10 working days of period end with zero material errors.
• Satisfaction scores from Investment team portfolio managers and capital partners.
• Team engagement, retention and ready-now successors for SVP roles.

Vacancy posted 1 day ago
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