General Manager – Retail Leasing – AFGRE
Al Futtaim Group
About Al-Futtaim Group Real Estate (AFGRE)
Al-Futtaim Group Real Estate (AFGRE) is the real estate development and operations arm of Al-Futtaim group which is headquartered in Dubai. AFGRE is responsible for the origination, conception, development, procurement and construction of mega projects and the leasing, sales and operation of these projects after completion.
In addition, AFGRE develops and operates an extensive multi-million dollar portfolio of individual corporate real estate and investment assets across the MENA region.
The two current flagship mixed use urban communities under the Festival City brand are the award winning, Dubai Festival City (5.2 million square metres) and
We are currently looking to recruit a General Manager - Retail Leasing, to work from our Real Estate Head Offices in Festival City, Dubai.
Reporting to the Director of LeasingÂ your role will be responsible for the following:
* Setting the tactics of the AFGRE Leasing strategy on the Retail Portfolio that is aimed at ensuring the viability of the business and meeting AFGRE's overall objectives
* Managing the rental of retail units to ensure maximum occupancy at all times and high renewal rates
* Managing the team undertaking lease negotiations, renewals and regears
* Ensure accurate completion of paperwork of current and prospective tenants
* Driving improvements to the tenant mix of Festival Center with a view to improving footfall and income
* Assisting the Cairo and Doha teams where appropriate in leasing these centers
Along with this, the incumbent will ensure:
* Understand variety of the leasing field's concepts, practices, and procedures
* Consistently apply experiences and judgment to plan and accomplish goals and to sustain and expand AFGRE's market share
* Effectively lead and direct the work of others, specifically the direct reports and supporting departments.
* Planning: Manages the preparation and implementation of leasing plans and leasing tactics to exploit the current market demand and generate future demand for the shopping centre to achieve or exceed projected units and revenue target.
* Targeting Prospective Customers: Manages the preparation of the target list of prospective tenants, local and international.Â Prepares company profile, and performs due diligence on prospective tenants as appropriate.
* Viewings & Presentation: Manages the invitation of prospective tenants to a presentation of videos, drawings, models ect or on site meetings in order to generate interest in the shipping centre and work towards deal closure to meet revenue targets.
* Terms Negotiation: Negotiates and finalizes lease terms in line with prevailing Budgets, Delegation of Authority (DOA) and any other conditions required by the business.
* Arranging Legal Documentation: Manages all documentation to ensure it is correctly prepared in accordance with the Standard Operating Procedures (LAF/LCA, Lease Contract ect.) and is signed by the authorized person as per the DOA in order to avoid any litigation in future and to serve as a point of reference. Maintains awareness of local legal procedures and practices, ensuring that they are upheld and/or not contradicted in lease terms.
* Asset/Property Management: Manages lease agreements to ensure they are renewed on time; and changes in the terms and conditions or rentals are correctly recorded and the rental is collected on time and in full to avoid any loss of money or dispute with the tenants. Proactively manages the Tenancy Schedules of all assets to regear the Lease contract to increase valuations on DFC's portfolio.
* Financial Analyst and Progress Reporting: Manages the preparation of the progress reports on weekly/monthly/annual basis as appropriate, on the current status of the business; comments on assessment of future market trends and prospects and propose measures and strategies to achieve or exceed the projected target.
* Budgeting: Evaluates historical performance, and market information on future market trends, to arrive at a rational budget projection both in terms of units and revenue so as to contribute effectively in meeting company's overall objectives set for the year.
* Budget Review: Reviews the actual performance against budget on regular basis to ensure that projected units and revenue target are being achieved.Â In case of shortfall, examine the reason and take corrective measures to bring it back on target.
* Marketing: Manages the undertaking of marketing initiatives as applicable to the portfolio including competition database and new marketing strategy that is within the budget, not exhaustive and reviewed and updated as necessary.
* Human Resources: Manages the team on all the HR issues including proactive management of ongoing training, internal and external.Â PDR's Disciplinary and Promotion of team, including ancillary benefits, taking into consideration cost/benefit of each undertaking.
* Administration: Manage all administrative functionality of the department including managing of resources, IT administration, CRM system.
* Audit: Manage any audit studies and requests. Action any findings/recommendations as are feasible and necessary.
Qualifications, Experience, and Skills
Minimum Qualifications and Knowledge:
* Degree or equivalent level of education in any discipline preferable but not mandatory, dependent on previous experience and aptitude.
* Minimum 10 years' experience in handling property leasing/portfolio management including lease negotiations and management with a reputable real estate company in MENA region with sound knowledge of written and spoken English
* Sound knowledge of Leasing procedure and practices in the local market
Research, insights, and Analysis:
* Obtain and analyses information through effective intelligence gathering systems and interpretation of results
* Deliver and manage effective customer relationship and infrastructure
* Establish, promote and use metrics to improve effectiveness
* Create and use a system of critical review to make more informed future decisions
* Manage self
* Manage cross-functional relationship effectively
About the Company
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 Group’s 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 Group’s 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.