Case Study: Chief Financial Officer for a large-scale developer
An off-market search for a CFO to establish the finance function of a newly formed Saudi developer with a 10 billion SAR portfolio, delivering a four-candidate shortlist within seven days and a signed contract within four week
Client Overview
A newly established Saudi Arabian developer and family group office, diversifying into large-scale real estate development for the first time. With an ambitious 10 billion SAR development programme spanning hospitality and residential assets, the business required financial leadership and infrastructure to match its scale of ambition, built from the ground up.
The Challenge
Entering real estate development as a new entrant, the business needed a Chief Financial Officer capable of establishing the finance function from scratch whilst navigating the complexities of a multi-asset, multi-billion SAR programme. The CFO would require both the technical depth and cultural credibility to operate effectively within a family group environment in the Kingdom of Saudi Arabia.
A regional hire was essential. The right candidate needed to understand the GCC real estate landscape intimately, with the networks and market knowledge to deliver immediate impact. The open market alone would not suffice.
Our Approach
Leadership
The search was led by deverellsmith's Investment & BTR team, who bring a track record of delivering senior leadership appointments across the GCC and wider MENA real estate market. The assignment was treated as a true executive search from day one.
Methodology
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Executive Search & Direct Headhunt: A targeted, off-market approach was deployed from the outset, mapping the GCC real estate landscape to identify CFOs with direct-to-developer and family office experience.
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Competitor Targeting: The search focused on senior finance leaders currently operating within comparable Saudi and regional developers, ensuring candidates arrived with immediately transferable sector knowledge.
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Regional Candidate Strategy: All shortlisted candidates were assessed against their ability to relocate within the Kingdom, with the appointed candidate successfully transitioning from the UAE.
Results
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Shortlist of four candidates delivered within seven days of mandate
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100% interview-to-shortlist conversion rate, all four candidates progressed to interview
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Signed contract secured within four weeks of mandate
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Appointed candidate has since passed probation
Key Success Factors
A clearly defined executive search strategy, focused exclusively on the GCC market, ensured pace without compromise on quality. Competitor targeting surfaced candidates unavailable through traditional channels, whilst a regionally-specific approach produced a shortlist that converted entirely, reflecting the precision of the search methodology and the strength of Hintel's network across the Kingdom and wider Gulf.
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