Description

IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities. Our mission is to leverage the power of the private sector to end extreme poverty and boost shared prosperity on a livable planet.

IFC’s Tourism, Retail and Property (TRP) team sits within the Health Education and Services (HES) Division. The TRP sector’s business has been growing significantly and Property is an important sub-sector within TRP. IFC has played a key role in supporting this sector in developing countries and particularly during the recent COVID-19 pandemic. Since 1999, IFC has committed close to $6bn in housing and commercial real estate (including offices, retail, and warehousing) in both direct and fund investments encompassing debt, mezzanine and equity in over 50 emerging market countries. In addition, the team also supports development and deployment of relevant advisory and upstream tools to strengthen private sector’s capability and development impact and catalyze further investment in the sector in emerging markets – sustainability and finding new and innovative ways to meaningfully engage the sector is key.

To support the growth of this business, IFC is recruiting a Property/Real Estate Sector Specialist with considerable practical experience in emerging markets. The new specialist will join 2 existing specialists and will play a key role in helping IFC to evaluate project investments in addition to advising on strategy, developing strategic relationships, supporting innovation and knowledge management, and playing a part in positioning IFC as a thought leader in this space. The successful candidate is expected to have rich strategic and operational experience in the real estate sector, have sound business judgment, and be able to work in investment teams by providing expert opinions on the technical and operational aspects of investment proposals from across our global network. The selected candidate will be based in Washington DC and will work under the oversight of the Global Sector Manager. The position will have a global focus and the ability to undertake regular travel commitments, is expected (primarily in developing economies).

Duties and Accountabilities:

Responsibilities include, but are not limited to:

•  Participate in business origination activities, build client networks and maintain client relationships;
•  Appraise and assess the technical and commercial feasibility of potential projects and companies that are seeking an investment from IFC (including analysis of key areas such as business model, market, management, operations, and partnerships and 3rd party agreements where applicable) and provide advice for project improvement and its long-term sustainability/feasibility.
•  Preparation of detailed written reports and power point presentations with clear views on the technical and financial feasibility aspects of the proposed investment, supported by analyses of sponsors and the real estate market as well as precise considerations for IFC;
•  Support the investment officers in developing comprehensive financial projections for all investment cases;
•  Participate in portfolio management of existing projects by providing value-additive expert advice to clients on key aspects of their operations and performance;
•  Support the development and implementation of IFC’s property sector Playbook both globally and regionally;
•  Contribute to the development and internal and external dissemination of information, knowledge and benchmarking relevant to the property sector;
•  Engage and work with colleagues from across the World Bank Group. Provide input on various property technical assistance initiatives with IFC and the broader World Bank Group;
•  Extract lessons learned from IFC investment projects and develop best practices to apply on future projects;
•  Strength IFC’s thought leadership in the property space including representing IFC as a speaker/panelist in relevant forms/conferences.
•  Drive innovation through identifying opportunities for IFC to engage in niche segments of the real estate sector through new investments and expand IFC’s reach in the real estate space through new value added/advisory products;
•  Co-lead alongside the Sector Lead and other specialists the development and organization of IFC’s Housing Conference;
•  Develop, as needed, real estate sub-sector strategies after detailed analysis including lessons learned, best practices, business rationale etc.;
•  Keep updated on and share as relevant with the team sectoral and industry news, trends and related developments; and
•  Hire and supervise consultants where needed to support IFC’s work in the property sector.

Selection Criteria

•  Master’s degree in a relevant area;
•  20+ years of deep practical based experience in the real estate industry, preferably with an international or large regional real estate development company or advisory firm;
•  Preferred, but not essential, a candidate with both a contractor/construction management and a real estate development background;
•  Experience in and knowledge of emerging trends in the sector, and technical expertise including feasibility, design, construction, development, property management, real estate market research and financial assessment;
•  Ability to work across different geographies, cultures and organizations and on multiple projects simultaneously is required; Significant international exposure, including experience of working in developing countries, will be a key advantage;
•  Extremely flexible to meet the demanding global travel requirements of the job;
•  Excellent communication written and oral skills in English. Knowledge of another major business language such as French or Spanish is an advantage;
•  A strong sense of curiosity and the ability to work both in teams and independently would be strong attributes;
•  Position requires sound business judgment to identify the strengths and weaknesses of real estate projects and to provide precise evaluation of technical, commercial, and managerial issues; and
•  Ability to clearly communicate verbally and in detailed written reports (for example when assessing and appraising potential investment projects).

World Bank Group Core Competencies

The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities.

We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.

Learn more about working at the World Bank and IFC, including our values and inspiring stories.