Senior Cost Manager Fund Monitoring Lead📣 Job Ad

About the Opportunity

A global real estate company is seeking a Senior Cost Manager Fund Monitoring Lead to join their team in Riyadh, Saudi Arabia. This full-time position involves leading fund monitoring activities for construction projects, providing independent oversight to support lender interests throughout the project lifecycle.

Role Purpose and Context

The Senior Cost Manager will operate from the lender's perspective, focusing on construction projects within Riyadh. The primary objective is to ensure independent oversight of project costs, progress, and associated risks, thereby facilitating informed drawdown decisions and safeguarding lender investments from inception through to completion.

Key Responsibilities

• Review project appraisals, budgets, cost plans, cashflows, and contracts from a lender's viewpoint.
• Monitor construction progress, programme adherence, costs, quality standards, variations, claims, and potential delays.
• Independently verify project progress and contractor payment applications to support lender drawdowns.
• Track cost-to-complete, financial forecasts, contingency usage, and overall project financial performance.
• Identify, assess, and report on key project risks, proposing recommended mitigation measures.
• Conduct regular site inspections and participate in project progress meetings.
• Liaise with the borrower, contractor, and design team while upholding independence and confidentiality.
• Prepare comprehensive monitoring reports, drawdown recommendations, executive summaries, and ad hoc risk reports for credit and investment committees.

Required Qualifications and Experience

• Minimum of 8–10 years of post-qualification quantity surveying experience.
• Demonstrated experience in development monitoring, bank monitoring, employer's agent, or project monitoring roles.
• Experience on projects in Saudi Arabia or the wider GCC region is strongly preferred.
• Familiarity with local contracting practices, FIDIC-based contracts, and the Saudi regulatory and permitting environment.

Essential Skills and Knowledge

• Strong understanding of construction finance structures, drawdown mechanisms, and lender risk requirements.
• Excellent written reporting skills, tailored for credit and investment committee audiences.

Work Environment and Location

This is a full-time position based in Riyadh, Saudi Arabia. The role requires a willingness and ability to travel or be based on site across the Kingdom of Saudi Arabia (KSA) as needed for project oversight.