Knight Frank Middle East Launches Development Management Service Line With Strategic Alliance Partner TCN GCC
Responding to inquiries by our Clients and increasing demand for value-added real estate development consultancy services, Knight Frank Middle East has recently launched a Development Management Service Line in partnership with TCN GCC.
The new service line fills a key market gap in professional real estate services by providing Clients with real estate development expertise in the project execution stage to buttress Knight Frank’s existing development consultancy service line offering. The service line leverages Knight Frank’s market reach, brand name recognition, and Client interface systems with the technical development management expertise provided by the TCN GCC team.
TCN GCC’s development management team has over 75 years combined real estate development delivery experience across a variety of real estate asset classes, with projects delivered totalling a gross development value of over USD $5-Billion. TCN GCC’s Directors and senior advisors are all former senior development executives for blue-chip GRE developers in the GCC such as, Nakheel, Qiddiya, Aldar, KIZAD, and RAK Properties and bring a wealth of client-side development delivery expertise in a flexible consulting format.
James Lewis, Managing Director of Knight Frank Middle East & Africa said ”We are excited to offer our Clients a unique value-added service line that goes beyond the traditional real estate consultancy offering of studies and reports. Through the technical expertise and extensive client-side exposure of our Strategic Alliance partner TCN GCC, Knight Frank Middle East is now able to provide Clients with an end-to-end professional development solution which we believe meets our Clients’ current and future demand for value-added services.”
The development management service line provides Clients with project delivery services across all project stages from business case to delivery and handover:
- Business Case / Investment Strategy / Development Plan / Sales and Marketing Strategy / Procurement Strategy / Asset Management – disposal – retention strategy
- Design Brief / Value Engineering Workshops / Constructability Analysis
- Manage tender for design and technical consultants and PM / manage all consultant contracts including technical aspects (design review) and commercial (invoices, etc.)
- Establish construction procurement strategy / float and manage construction tender/ evaluate site construction progress at critical project junctures.
- Manage product launch / oversee the Defect Liability Period (DLP) period / Manage tender for FM / PM / other service providers as-needed
- Ensure construction loan close-out / loan close-out / CRM system for delivery and customer handover
Harmen de Jong, Partner, Real Estate Strategy and Consulting at Knight Frank Middle East commented “Clients looking for real estate development advice are often being guided by career consultants with a track record in market research and financial modelling but without any senior client-side experience of actually delivering large-scale real estate development projects from start to finish. Through the strategic alliance, we are going to change this by involving senior real estate development professionals from TCN GCC within a value-added development consultancy service offering.”
Kaveh Samsamy, Partner at TCN GCC stated “This Strategic Alliance provides our Clients with the “best of both worlds”; Clients will benefit from Knight Frank’s market reach, brand name recognition, and Client interface systems, combined with TCN GCC’s niche technical project delivery expertise”.
The development management service line provides Clients with the ability to access professional real estate development execution expertise in a variety of flexible commercial formats such as secondment of professional development expertise into the Client’s team, short-term and monthly assignments as well as long-term end-to-end project delivery.
