Assistant Manager - Retail Leasing

Job description / Role

Established in the 1930s as a trading business, Al-Futtaim Group today is one of the most diversified and progressive, privately held regional businesses headquartered in Dubai, United Arab Emirates. Structured into five operating divisions; automotive, financial services, real estate, retail and healthcare; employing more than 35,000 employees across more than 20 countries in the Middle East, Asia and Africa, Al-Futtaim Group partners with over 200 of the world's most admired and innovative brands. Al-Futtaim Group's entrepreneurship and relentless customer focus enables the organization to continue to grow and expand; responding to the changing needs of our customers within the societies in which we operate.

By upholding our values of respect, excellence, collaboration and integrity; Al-Futtaim Group continues to enrich the lives and aspirations of our customers each and every day

Overview of the role:

In this position, you'll manage retail unit rentals for maximum occupancy and premium rents while staying informed about market dynamics. Your duties include lease negotiations, paperwork accuracy, and leveraging experience to sustain and expand market share.

What you will do:
- Develops and implements leasing plans and strategies to meet current and future market demands in retail leasing.
- Conducts thorough market research to understand demand, customer preferences, property attributes, and competitor pricing strategies.
- Compiles a target list of potential tenants, prioritizing high-end and flagship retail brands, and aligning them with property types.
- Coordinates the creation of annual lease expiry profiles and devises exit strategies for retail tenants not meeting the agreed-upon mix.
- Manages tenant engagement through site meetings to generate and maintain interest, aiming to achieve revenue targets.
- Prepares proposals for new and renewal tenants, ensuring rates are in line with budget/ERV.
- Negotiates and finalizes lease terms in compliance with SOPs, budgets, and other business conditions.
- Ensures accurate documentation and adherence to legal procedures in lease agreements to avoid future litigation.
- Oversees lease renewals and rental collection to prevent disputes and financial losses.
- Proactively manages asset tenancy schedules to optimize DFC's portfolio valuation.
- Negotiates exit strategies for tenants no longer fitting the retail brand mix.
- Collaborates with the Credit Control Department on accounts receivable status and payment plans.
- Prepares monthly statements of negative accruals and other accounting provisions.
- Oversees the preparation of progress reports, providing insights into current business status and proposing strategies to achieve or surpass targets.

Requirements

Required Skills to be successful:
- Minimum 3 - 5 years experience in handling property leasing/portfolio management including lease negotiations and management with a reputable real estate company

What equips you for the role:
- Degree or equivalent level of education in any discipline
- Sound knowledge of Leasithe ng market and practices in the local market/international market
- Familiar with a variety of the leasing field's concepts, practices, and procedures along with the Brands awareness and categories

About Al-Futtaim Group Real Estate
The real estate development and operations arm of Al-Futtaim, Al-Futtaim Group Real Estate is responsible for a multi-billion-dollar portfolio across MENA. With high-quality residential, business, retail, tourism, educational and healthcare developments, the master developer caters to the diverse needs of cities and communities in the region. From origination, conception, development, sales, procurement and construction of mega-projects and the leasing, operation and management of these projects after completion, Al-Futtaim Group Real Estate (AFGRE) has been developing and managing owned landbanks, unlocking the economic potential of the region and contributing to future development for more than 40 years.

Our focus is to enable and invest in meaningful relationships to make our properties the best places to live and work, build additional products and services and enable partnerships to create true value to our customers throughout their entire experience with us.
AFGRE is responsible for master planning of all projects in its portfolio, including two large scale mixed use destinations: Dubai Festival City and Cairo Festival City.

About the Company

Established in the 1930's, the Al-Futtaim Group initially operated as a trading enterprise. Rapid development throughout the 1940's and 50's saw it establish itself regionally as an integrated commercial, industrial and services organisation, positioning itself one of the leading business houses in the lower Gulf region. Today, it operates collectively over 40 companies bearing the Al-Futtaim name, dominates many market segments in the UAE, and has expanded its sphere of operation to include Bahrain, Kuwait, Qatar, Oman and Egypt.

The Group comprises a diverse range of strategically positioned operating subsidiaries and associate companies, structured to give the Al-Futtaim Group the flexibility and versatility to keep ahead of local competition while keeping pace with the ever-evolving global business scenario. The Groups continued investment in world-class systems technology is clear evidence of its commitment to maintain leading edge performance and service delivery.

The success of the Al-Futtaim Group can be attributed to a business approach that combines the ability to change with the traditional values of integrity, service and social responsibility that define its core business philosophy. This, linked with the Groups belief in decentralisation, gives the heads of the operating companies a high degree of functional autonomy and authority, providing the Group with essential flexibility, and individual employees a clearly defined work culture and sense of responsibility.