Cost & Commercial Manager – Real Estate Development

At Polymath & Boffin, we bridge capital with opportunity, structuring investments that drive long-term prosperity. With precision, experience and integrity, we turn potential into measurable success.

Our work spans markets and sectors, but our approach is consistent: collaborative, thoughtful, and built on trust. If that sounds like the kind of environment you’d thrive in, take a look at our current roles. We’d be glad to hear from you.

Description

This is a full-time, on-site role based in Floriana, Malta. The Cost & Commercial Manager will be responsible for the financial and commercial management of PB’s real estate development projects. The role will prepare and manage project budgets, cost plans and forecasts; coordinate procurement strategies; issue tenders; evaluate submissions; and prepare contract award recommendations. The Cost & Commercial Manager will administer construction and consultancy contracts, manage variations and claims, and oversee the final account process. The role will also review contractors’ payment applications, coordinate their verification by appointed Quantity Surveyors, and approve payment certificates and payment recommendations within delegated authority. Working closely with development, project management, design, Finance and Legal teams, the role will provide robust cost control, commercial reporting and contractual governance throughout the development lifecycle.

Key Responsibilities

Prepare initial development and construction budgets, cost plans and project cash-flow forecasts.
Maintain project budgets and regularly report on expenditure, commitments, variances, contingencies and anticipated final costs.
Develop appropriate procurement strategies for construction works, consultants and other project-related services.
Prepare, coordinate and issue tender documentation, including scopes of work, pricing schedules and commercial requirements.
Manage tender clarifications and evaluate commercial submissions.
Lead commercial negotiations and prepare tender adjudication reports and contract award recommendations.
Administer construction, consultancy and supply contracts throughout the project lifecycle.
Monitor contractual obligations and manage instructions, variations, claims, extensions of time and other commercial matters.
Receive and review contractors’ applications for payment and supporting documentation.
Coordinate with appointed Quantity Surveyors to verify completed works, quantities, variations and amounts claimed.
Review and approve payment certificates and contractor payment recommendations in accordance with PB’s delegated authority procedures.
Monitor project expenditure and cost-to-complete positions, identifying and reporting potential overruns at an early stage.
Support value-engineering and cost-optimisation exercises while protecting the project’s quality and commercial objectives.
Maintain complete and accurate procurement, contractual, cost and payment records.
Prepare regular cost reports, commercial updates and decision papers for management and other stakeholders.
Liaise with project managers, architects, engineers, consultants, contractors, Finance, Legal and other internal and external stakeholders.
Manage contract close-out and the agreement of final accounts.

Requirements and Skills

A minimum of five years of relevant experience in quantity surveying, cost management or commercial management within real estate development or construction.
A bachelor’s degree in Quantity Surveying, Construction Economics, Commercial Management, Civil Engineering or a related discipline.
Demonstrable experience preparing and managing construction budgets, cost plans, forecasts and cost-to-complete reports.
Strong experience in procurement, tender preparation, tender evaluation, commercial negotiation and contract award.
Practical knowledge of construction contract administration, including variations, claims and final accounts.
Experience reviewing payment applications and administering payment-certification procedures.
Strong understanding of Bills of Quantities, construction drawings, specifications and pricing documentation.
Working knowledge of recognised forms of construction contract, such as FIDIC or equivalent forms.
Strong financial, analytical and commercial judgement, with excellent attention to detail.
Strong negotiation, written communication and stakeholder-management skills.
Ability to prepare clear cost reports, tender adjudications and commercial recommendations.
Ability to manage external Quantity Surveyors and other professional advisers effectively.
Advanced proficiency in Microsoft Excel and experience with relevant cost-management or project-reporting systems.
Ability to manage multiple projects and competing priorities in a structured and accountable manner.
High level of initiative and a proactive, methodical working style.
Ability to collaborate effectively within a small, high-performing team environment.
Experience working for a real estate developer, investment manager or development-management business would be considered an advantage.
Knowledge of the Maltese construction market and local procurement practices would be considered an advantage.

The salary for this position will be commensurate with qualifications, experience and skills.

If you are commercially astute, methodical, have an excellent eye for detail and are looking for a challenging yet rewarding opportunity that will enable you to grow and develop professionally, we encourage you to apply by filling in the form below.

Real Estate Development - Cost & Commercial Manager

Job Description